Banks' performance is seen undermining Thai upturn

Article Abstract:

Thailand's banking industry posted a generally poor third quarter performance in 1998 that doused enthusiasm for rallies in some share prices and also dampened market expectations following a stock market surge. Low interest rates have not made substantial gains for financial services companies, which increased the level of their nonperforming loan assets. Meanwhile, banks are withholding loan commitment pending the passage of a new regulation covering property seizure for debtor companies.

Securities issued, listed, Thailand

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Interest burden is heavy

Article Abstract:

Bangkok Expressway PCL of Thailand's roughly 62% decline in its share price is still not enough to convince analysts that the company stock is a sound choice. The company's stock price has been increasing as investors anticipate the cost of Bangkok Expressway's funding to decline amid discussions of potential interest rate reductions. The company will be able to save just 300 mil baht on interest expenses in 1998 even if local rates decrease by one percentage point.

Securities, Bangkok Expressway PCL

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Citibank halts due-diligence review on acquisition target

Article Abstract:

Citibank NA has postponed a due-diligence study in its proposed acquisition of Thailand's First Bangkok City Bank PCL, but refused to confirm if the decision is permanent. Several analysts claimed that the move indicates that Citibank may either demand that First Bangkok straighten up or maybe Citibank is scouting for a new acquisition. Citibank disclaimed reports that its decision was prompted by the government's seizure of Siam City Bank PCL.

Savings Institutions, Mutual Savings Banks, Management, Citibank N.A. (New York, New York)

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