Credit Bureau sounds alarm over 610 billion baht in housing loans in default

14 Sept 02:33 Key points summarised by AI

The National Credit Bureau warns that approximately 610 billion baht in housing loans, mainly from low and middle-income earners, are at high risk of becoming non-performing loans (NPLs) due to missed repayments.
The Bureau urges the government to provide urgent assistance, such as debt refinancing, to these debtors to prevent a significant negative impact on the Thai economy.
This housing loan crisis is part of a larger national challenge, with Thailand's household debt at 91% of GDP, contributing to a 12.46% drop in car sales and a 50% rejection rate for car loan applications due to tightening credit.

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.