TAMC announces nine-month results
The Thai Asset Management Corp (TAMC) yesterday reported revenues of Bt109.68 billion for the first nine months of the year, of which Bt105.58 billion was used to redeem promissory notes issued to financial institutions.
The TAMC issued the promissory notes to pay financial institutions for assets transferred to it.President Somjate Moosirilert said that as of the end of the third quarter, the TAMC had completed managing its impaired assets of Bt772.21 billion representing 15,268 debtors, or 99.49 per cent of Bt776.13 billion worth of transferred assets. Of the completed debt management, Bt507.55 billion was restructured debt or completed rehabilitation debt from the Central Bankruptcy Court, Bt49.3 billion of which were completely settled debts. These debtors have been moved to normal financial institutions, in order to help them operate normally. However, Bt264.66 billion worth of debt representing 7,793 debtors could not be restructured. The TAMC must enforce collateral foreclosure of these debts for repayment and value-add them further. The Nation
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