Temporary measures to resolve NPLs at specialised financial institutions

13 Sept 05:54 Key points summarised by AI

The Bank of Thailand has authorized state-run banks and Asset Management Companies (AMCs) to establish joint entities to address non-performing loans (NPLs) at specialised financial institutions (SFIs).
These new entities, mandated for formation this year, will manage NPLs for 15 years through debt restructuring, aiming to assist debtors impacted by COVID-19 and enhance SFIs' effective NPL management.

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.