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Published on January 30, 2008

Appearing at a GHB-sponsored seminar entitled "Residential Real-Estate Development - USA Perspective", he was ready to talk to reporters on all topics.

The event featured an American housing expert speaking about the US property market. That led reporters to ask Khan whether the seminar was hosted to tell Thai property developers there was room to invest in the US market.

"No," responded Khan, laughing. "Why should we, when the market is slumping? The expert wanted to share her views, and we hosted the event accordingly."

Notably, this event took place at the Pullman Bangkok, the newest hotel in town. This tells how affluent the GHB is that it can sponsor a seminar on a topic that is not expected to stimulate audiences.

For years, the bank has been a major player in the mortgage market and with the largest market share.

This year, it also hopes to raise capital by Bt10 billion, in order to expand its mortgage lending further. Despite delays, Khan is certain the plan will materialise this year.

Unsurprisingly, when asked to confirm a rumour he had been approached to replace TMB Bank CEO and president Subhak Siwaraksa, he laughed.

Rather than citing TMB's huge losses and unclear future as reasons for not joining the commercial bank, Khan said: "The government is giving me an additional Bt10 billion to manage. Why should I leave the GHB?"

Hmm, there seems to be no reason at all to leave the GHB now. With an additional Bt10 billion in capital, it will play an even bigger role in the property market. Though lending to Ua Athorn housing-unit buyers could contain some risks, the job at the GHB looks easier compared with operations at TMB, which involve lending to many sectors.

somluck@nationgroup.com

The Nation