Thailand to ask for US$1.5b loan

[hillbilly]

BANGKOK - THAILAND will request a US$1.5 billion (S$2.2 billion) loan from world institutions for infrastructure projects, the finance minister said on Thursday, after lowering the economy's growth target to five per cent.

Mr Suchart Thada-thamrongvej told reporters he would travel to a meeting of the World Bank in the United States Thursday, where he would request funds from its representatives as well as officials from the Asian Development Bank (ADB).

'The loans are to be used for Thailand's mega-projects, US$500 million from the World Bank and US$1 billion from ADB,' Mr Suchart said, without giving any further details of the projects.

Referring to his reduction of the growth rate target, Mr Suchart told reporters: 'It is difficult to forecast the economy growth considering the problems from the current economic crisis and political turmoil'.

'This year the Thai economy is likely to grow at five percent or lower.'
Mr Suchart said gross domestic product growth in the third quarter was expected to be more than four per cent while growth would slow further in the fourth quarter.

Previous finance minister Surapong Suebwonglee already lowered growth expectations when he announced on September 10 that Thailand would likely miss its 6 per cent target after political turmoil had sapped investor confidence. -- AFP

Breaking News

[robuzo]

BANGKOK - THAILAND will request a US$1.5 billion (S$2.2 billion) loan from world institutions for infrastructure projects, the finance minister said. . .Mr Suchart Thada-thamrongvej told reporters he would travel to a meeting of the World Bank in the United States Thursday, where he would request funds from its representatives as well as officials from the Asian Development Bank (ADB).

"Entire herds of buffalo are sick. Millions of my little brothers need money for school uniform, and millions more mothers want want to go tambun. Please, can you help us?"

[Butterfly]

not the best time to ask for a loan IMO

[good2bhappy]

some of the elite have lost a bit of money from the SET.
They need to relign their pockets.
Who better to ask than the rich Chao Tang Pratet

[robuzo]

Well, come on, $1.5 billion? Chaleo Yoovidhya walks around with that much tucked in his shirt pocket, and he isn't even the richest man in Thailand. But I have no idea who is.

[sabang]

Thai politicians live in a Fairyland. Then again, so does the World Bank and ADB. Who knows, they might even end up getting the Loan- the fact that a wedge will be lost in corruption, and that (as best I can see) Thailand has no pressing requirement for any infrastructural loans does not figure in the equation.

[Thormaturge]

not the best time to ask for a loan IMO

With Mega Projects such as Loy Krathong, Christmas and New Year coming in the next three months I would say it is a very good time, otherwise we might have to cancel a few celebrations.

[Mid]

The Thai deputy prime minister said that the Chinese government is also ready to provide US$400 million in loans to help finance in Thai government-sponsored mega-projects. (TNA)

MCOT English News : Beijing ASEM result: ASEAN+3 will use reserves to combat financial crisis

[Thormaturge]

Why doesn't Somchai just phone his brother in law?

[Happyman]

They can always borrow it from the Toxin funds they have frozen and promise to pay it back when he comes home !

[Camel Toe]

[I]The Thai deputy prime minister said that the Chinese government is also ready to provide US$400 million in loans to help finance in Thai government-sponsored mega-projects.

At what rate? Knowing the Chinese Somchai could do better with the Sicilian Mafia.

[Mid]

details , details .....................

[gjbkk]

It applies to Thailand too

1. Once you have their money ... never give it back.
2. Never pay more for an acquisition than you have to.
3. Never allow family to stand in the way of opportunity.
4. A man is only worth the sum of his possessions. (From Enterprise, episode "Acquisition"; sloppy script-writing, as rule 6 (see above) was already given in DS9)
5. Keep your ears open.
6. Small print leads to large risk.
7. Opportunity plus instinct equals profit.
8. Greed is eternal.
9. Anything worth doing is worth doing for money.
10. A deal is a deal ... until a better one comes along.
11. A contract is a contract is a contract (but only between Ferengi).
12. A Ferengi without profit is no Ferengi at all.
13. Satisfaction is not guaranteed.
14. Never place friendship above profit.
15. A wise man can hear profit in the wind.
16. Nothing is more important than your health--except for your money.
17. There's nothing more dangerous than an honest businessman.
18. Never make fun of a Ferengi's mother ... insult something he cares about instead.
19. It never hurts to suck up to the boss.
20. Peace is good for business.
21. War is good for business.
22. She can touch your lobes but never your latinum.
23. Profit is its own reward.
24. Never confuse wisdom with luck.
25. Expand, or die.
26. Don't trust a man wearing a better suit than your own.
27. The bigger the smile, the sharper the knife.
28. Never ask when you can take.
29. Good customers are as rare as latinum -- treasure them.
30. There is no substitute for success.
31. Free advice is seldom cheap.
32. Keep your lies consistent.
33. The riskier the road, the greater the profit.
34. Win or lose, there's always Hyperian beetle snuff.
35. Home is where the heart is ... but the stars are made of latinum.
36. Every once in a while, declare peace. It confuses the hell out of your enemies.
37. Beware of the Vulcan greed for knowledge.
38. The flimsier the product, the higher the price.
39. Never let the competition know what you're thinking.
40. Ask not what your profits can do for you, but what you can do for your profits.
41. Females and finances don't mix.
42. Enough ... is never enough.
43. Trust is the biggest liability of all.
44. Nature decays, but latinum lasts forever.
45. Sleep can interfere with profit. (DS9 season 2, episode 7 - "Rules of Acquisition")
46. Faith moves mountains ... of inventory.
47. There is no honour in poverty.
48. Dignity and an empty sack is worth the sack.
49. Treat people in your debt like family ... exploit them.
50. Never have sex with the boss's sister.
51. Always have sex with the boss.
52. You can't free a fish from water.
53. Everything is for sale, even friendship.
54. Even a blind man can recognize the glow of latinum.
55. Wives serve, brothers inherit.
56. Only fools pay retail.
57. There's nothing wrong with charity ... as long as it winds up in your pocket.
58. Even in the worst of times someone turns a profit.
59. Know your enemies ... but do business with them always.
60. Not even dishonesty can tarnish the shine of profit.
61. Let others keep their reputation. You keep their money.
62. Never cheat a Klingon ... unless you're sure you can get away with it.
63. It's always good business to know about new customers before they walk in the door.
64. The justification for profit is profit.
65. New customers are like razortoothed grubworms. They can be succulent, but sometimes they can bite back.
66. Employees are rungs on the ladder of success. Don't hesitate to step on them.
67. Never begin a negotiation on an empty stomach.
68. Always know what you're buying.
69. Beware the man who doesn't make time for oo-mox.
70. Latinum lasts longer than lust.
71. You can't buy fate.
72. Never be afraid to mislabel a product.
73. More is good ... all is better.
74. A wife is a luxury ... a smart accountant is a necessity.
75. A wealthy man can afford anything except a conscience.
76. Never allow doubt to tarnish your love of latinum.
77. When in doubt, lie.
78. Deep down everyone's a Ferengi.
79. No good deed ever goes unpunished.
80. [Quark's rule] When Morn leaves, it's all over.

[panama hat]

Lending a Thai money? Sure . . .

[Happyman]

^

On the other hand a Thai lady friend ( purely platonic I assure you ! - known her for 6 years)- was looking very pissed off a month or so ago when I bumped into her in town - all weepy walking down the road by herself.
Wouldn't tell me what the problem was but after a coffee and a chat it turned out she had fallen off her motocy and repairs were going to cost 2600 baht which she didn't have.
This was a Friday and she was due to start a new job on Monday but without the bike she couldn't get there.
Ah! f*ckit - I gave her the 2600 and she accepted protesting and promised to give it back at the end of the month when she got her pay - Yeah Yeah Yeah- but to be honest I didn't expect to see it again and wasn't really worried anyway.

Bugger me! At the end of the month she had found out where I live - 15 km from her place - and turned up with 2600 baht - a basket of fruit and a thankyou card !!!

Restored my faith in one Thai at least

[Thormaturge]

^
The key here is that you knew her well enough to know her story was genuine.

I agree there are decent Thai's who aren't our "friends" simply for what they can make out of it, and a motorsai is a big investment for a decent girl, so good on you for helping her.

The good thing about how Thai friendship works is that if you now fall off your motorsai she will move heaven and earth to help you too.

[Rural Surin]

Well, come on, $1.5 billion? Chaleo Yoovidhya walks around with that much tucked in his shirt pocket, and he isn't even the richest man in Thailand. But I have no idea who is.

Richest man in Thailand? You don't know?......well, sure you do.

[keda]

Lending a Thai money? Sure . . .

They paid off their previous loans ahead of schedule, under Toxin.