SCB offers loan to buy overseas assets
By Ekarin Bumroonpguk
Published on April 9, 2009
As many companies overseas have been forced by the global financial crisis to dump their properties or businesses at cheap prices, a local bank is supporting companies here to scavenge for bargains abroad.
Many companies are in the pipeline to snap up foreign assets, Siam Commercial Bank said on Tuesday.
It aims to lend to strong Thai companies that wish to buy cheap foreign assets in order to expand their core business.
Recently, SCB was the solely provider of a Bt12-billion, 10-year loan to energy conglomerate PTT, part of which would be used to buy a coal mine in Australia. Read More