Standard Chartered expands: deal for Nakornthon Bank lifts Asian presence

Article Abstract:

UK-based Standard Chartered Bank PLC has consented to purchase Thailand's Nakornthon Bank, the second Southeast Asian bank it has acquired in a week. Observers see the deal as an important move in hastening the recapitalization of the debt-laden banking system of Thailand. Under the plan, Standard Chartered will provide 6.2 billion baht for an initial 68.4% share in Nakornthon Bank after existing stockholders agree to a write-down of their shares from 10 baht to 0.01 baht.

Commercial Banks, Commercial Banking, Asset sales & divestitures, Acquisitions & mergers, Banking industry, Mergers, acquisitions and divestments, Standard Chartered Bank PLC, Nakornthon Bank Ltd.

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TPI founder is ousted

Article Abstract:

Thai Petrochemical Industry PCL founder and former CEO Prachai Leophairatana has been fired by Effective Planners Ltd., the debt restructuring firm reworking the company's finances. He declared the firing illegal but did not say if he will take action against it.

Executive changes & profiles, Petrochemical Manufacturing, Cyclic crudes and intermediates, Petrochemicals, Officials and employees, Human resource management, Appointments, resignations and dismissals, Petroleum chemicals industry, Petrochemicals industry, Thai Petrochemical Industry Company Ltd., Leophairatana, Prachai, Effective Planners Ltd.

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