atans1

Another Ang Mog bank retreats from Thailand

In Banks on 25/03/2012 at 4:10 pm

HSBC recently put put up a “For Sale” on its retail banking network in Thailand.

Now ING is doing the same for its stake in a Thai bank. http://www.reuters.com/article/2012/03/23/us-ing-tmb-idUSBRE82M05520120323. ING has  put a US$775m price on its 31%  stake in TMB. It .bought the stake in Thailand’s seventh-largest lender in 2007 for US$607m. Nice profit if it gets its asking price.

 

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  1. Interesting. Why do you think is the case?

  2. Unlike S’pore, Thai protects their people and companies. So although Thai got lots of prostitutes, but they don’t let their own get screwed, unlike S’pore where the people and companies get fucked and screwed upside down. Good for elites and PAPies though.

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