Government to roll out new measures to tackle Thai indebtedness

22 Sept 17:50 Key points summarised by AI

The Thai government will announce new measures to address the nation's soaring debt, as household debt reached 13.7 trillion baht by year-end, including 1.05 trillion baht in non-performing loans (NPLs).
Prime Minister Srettha Thavisin will lead the announcement, targeting various debtor groups such as those affected by COVID-19, individuals with unstable incomes, and those with leasing, student, or state-bank NPLs.
Major concerns include rapidly increasing NPLs from car leasing (up 28% to 230 billion baht), non-performing housing loans (up 7% to 180 billion baht, impacting low/middle-income earners), and personal loans (up 12% to 260 billion baht in NPLs), largely attributed to the rising cost of living.
Additionally, 140,787 informal debtors have registered for government assistance, totaling 9.8 billion baht, with registration remaining open until the end of the month.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.