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US, Japan Set Up Fund to Revive Thai SMEs March 20, 2001 A major US investor and two Japanese banks yesterday set up the Thailand Corporate Recovery Fund (TCRF), aimed at reviving the fortunes of troubled medium-sized companies, while the Thai government warned growth would slow this year. The US$150 million fund has been set up by Cerebus Capital Management, a US group controlling US$6.7 billion in capital, Japan`s Shinsei Bank, and the government-run Japan Bank for International Cooperation (JBIC). The role of the fund will be crucial as the economy slows down, growing at a slower-than-expected 3.5%-4% this year, down from earlier estimates of 4%-4.5%, the National Economic and Social Development Board (NESDB) said. To Support Local SMEs The TRCF will also be open for additional Thai investors. It will, however, focus its assistance and support to selected local SMEs whose potential is accepted by the fund`s management. Assistance would be either by extending new loans or acquiring stakes in the selected firms.SMEs initially eligible will be those with debts between Bt10-100 million (US$227,000 -2.27million) Bank of Thailand (BOT) governor Chatu Mongol Sonakul pointed out that the TRCF would be a new alternative for private SMEs in the country to acquire fresh funds for their business expansion under the management control of the professional executives of the TRCF. (hm/fw)Business Times 20.3.01 |
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| aus der Diskussion: | Waste or make money in Thailand |
| Autor (Datum des Eintrages): | BodyG (20.03.01 16:05:08) |
| Beitrag: | 566 von 611 (ID:3137515) |
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