Debt manager

People browse cars displayed at the Bangkok International Grand Motor Sale 2020. (Photo by Somchai Poomlard) Auto loan providers have launched new debt restructuring packages to control non-performing loans (NPLs) after forecasting higher bad debts in the first quarter due to the impact of the pandemic. Tisco Bank, the country's leading automotive lender, introduced a debt pay-off campaign for customers purchasing commercial vans, who largely operate in tourism-related businesses and have been battered by the pandemic. The bank launched the campaign late last year for businesses operating tour vans, which are considered on a case-by-case basis, said president and chief operating officer Sakchai Peechapat. The solution is a financial instrument to help customers who cannot service their debts to close their loan accounts and maintain a good credit record with the National Credit Bureau. Instalments for borrowers average between 15,000-25,000 baht per month. Given the ... » Learn More about Campaigns aim to ease auto loan stress

Building on a relationship spanning two centuries, Thailand and the United States took an important step forward to work even closer together. Elevating our already strong and dynamic relationship over the Mekong River. On Friday, along with Deputy Prime Minister Don Pramudwinai and officials from the four other countries in the lower Mekong basin, the United States launched the new Mekong-U.S. Partnership, which will also build on decades of collaboration and $3.5 billion in U.S. assistance provided under the Lower Mekong Initiative over the past 11 years. In upgrading our efforts with the Mekong-U.S. Partnership, the United States will support even greater connectivity and development in the region for years to come. With more than $150 million in regional initiatives already in the pipeline, our cooperation through this partnership will also expand to include the full range of economic, security, governance, health, and environmental efforts – a fitting approach to collectively ... » Learn More about US Ambassador to Thailand: Building the Mekong River-U.S. Partnership

In August 2019, migrant teachers were arrested and deported from Ranong leaving 2,800 migrant children without an education. This event has been called the ‘Ranong Raid’ by local media. It has also captured NGO’s and Human Rights Advocates attention within Thailand. Advocates say the school closures have driven many former pupils into Thailand’s illegal seafood industry jobs. Chit Su has been stuck at home peeling crabs with her grandmother since her school for Burmese migrants closed last year in southern Thailand. Even working together, they make less than a daily minimum wage. “This is hard work… if I study I’ll get to do a job that’s less tough,” said Chit Su, 15, whose name has been changed to protect her identity. “But now, if I don’t help my grandma, we won’t have any money.” She and her grandmother earn 240 baht ($7.60) a day – less than the 315-baht minimum in Ranong, and a drop in the ocean as they try to clear the family’s 8,000-baht debt. Educational centres close ... » Learn More about School Closures Force Migrant Children Labour in Thailand’s Seafood Industry

GRATITUDE: Buan Losuwan, 89, right, is greeted by a senior army officer who presented her with money donated by fellow military personnel to help her repay debt to the state. Buan Losuwan got the shock of her life when an official letter arrived on her doorstep demanding the return of more than 80,000 baht of pension payments she had received over the years. It turns out Buan, 89, of Chalerm Phrakiat district in Buri Ram, had been picking up two cheques each month, her official pension and a stipend granted her by the army after the death of her son, Jakkrawut Losuwan, a sergeant major first class who died guarding an arsenal depot in Nakhon Ratchasima in an explosion there in 2001. She had been receiving the monthly stipend of 5,000 baht since 2001 and the pension since 2010. But receiving both payments similarly classified as financial aid at the same time is against the law. Now, the Comptroller General's Department (CGD) wants her to hand back 10 years worth of pension ... » Learn More about Pension drama didn’t have to happen

A gunman who allegedly shot and killed a senior police officer at a petrol station has been arrested at an apartment in Chon buri’s Sriracha district. He’s accused of Killing Police Sub-Lieutenant Charnwit Ditjaroen,53. Police Sub-Lt Charnwit, was shot dead by a member of a group of young people comprising six men and three women, who were drinking at a PTT petrol station in Suphan Buri on Sunday night. A witness said that Sub-Lt Charnwit, who was wearing civilian clothes, warned the group about turning the music on too loud. He also advised them to go home, when the gunman walked up to him from behind and shot him on the nape of the neck . After the shooting, the suspect and their group fled the scene on motorcycles and a pickup truck . Police reviewed the CCTV footage and identified the alleged shooter as Sitthiphong Jasa-ard, aged 23 years. A Police manhunt tracked him down to an apartment in Sriracha district in Chonburi province. Police also reportedly found a 38 ... » Learn More about Gunman Who Killed Policeman in Cold Blood Captured in Chiang Buri

In 2019, the Philippines government debt-to-gross domestic product (GDP) ratio stood at 41.5 percent, and last year’s negative GDP growth of 9.5 percent raised this higher. The ratio will also increase because of higher government spending, though it is still low compared to that in other countries. The ratio is at the same level and those in strong European economies. In my view, this strong fiscal situation leaves room to support the domestic economy, but the fiscal firepower used must be well-considered. Most Western countries are also facing these challenges, though governments in the old economies have a mental barrier because they trust in a zero-risk solution for their societies. In contrast, emerging economies have a better understanding of risk management. The Philippines is one example; despite the different quarantines imposed across the country, these have been eased since June. This doesn’t mean the coronavirus has disappeared, but the current number of new infections ... » Learn More about The Philippines in a difficult outperformance

Bank of Thailand Governor Veerathai Santiprabhob says that businesses and governments should prepare for “the current world of volatility.” . . BANGKOK – Businesses and emerging Asian Countries must brace for a time of volatility by stepping up foreign exchange hedging and lowering their dependence on foreign currencies and financing, Bank of Thailand Governor Veerathai Santiprabhob said in an interview with the Nikkei Asian Review on Friday. Thailand recently began talks with Indonesia to promote settlement for trade and investment between the two countries in their local currencies instead of in the U.S. dollar. “This is an example of benefits of promoting one form of regional financial connectivity at a time when the global financial environment is very volatile,” Veerathai said. Much of the cross-border transactions within Asia are quoted in U.S. dollars. In 2015, 84% of trade between Thailand and Indonesia was via the dollar. But the “dollar has become very ... » Learn More about Bank of Thailand Governor Says We Must Brace for a Time of Volatility

Running a business is far complicated from an easy job. In fact, businesses owners are said to have stress levels as high as anyone else if not more. It has forever been thought that owning your own business absolves you of stress. This is far from the case. Business owners are people who have to manage the business, their own household and ensure that the employees get paid on time so that they too can take money home to their families. The business owner or the person managing the company has an immense task of making sure that everything goes right. The fact that they have to invest and make sure that the investment pays off, in the long run, is bad enough. It’s a major burden to take a risk like that and know that you are responsible. You are responsible for the entity in society and the lives which it effects, your own included. Though debts have forever been seen as this monster which you need to be aware of all the time, it is important to understand how imperative it is ... » Learn More about Eight Things to Avoid When Applying for a Business Loan