What's Good for GM Is Good For Us: Korn

"Liquidity is high and we expect bank lending to expand at 10 per cent this year, which should be adequate," Korn said yesterday on the sidelines of a loan-contract signing between three local banks - Bangkok Bank, Siam Commercial and Tisco - on the one side and US-based carmaker GM on the other.

Korn was replying to a question about whether Thai banks had adequate funds to finance other foreign investors.

Korn also praised the GM brand and its reputation. "GM Khemkhaeng [investing for strength] means Thailand will also Khemkhaeng," he said, referring to the government stimulus package known as Thai Khemkhaeng, through which the government plans to invest up to Bt1.43 trillion over three years.