Thailand's Kasikornbank to buy majority stake in Indonesia firm

30/5/2022 5:26:00 PM

Thailand's Kasikornbank to buy majority stake in Indonesia firm

Kasikornbank, Thailand

Thailand 's Kasikornbank to buy majority stake in Indonesia firm

BANGKOK, May 30 — One of Thailand ’s largest banks bought a US$220 million (RM961 million) majority stake in Indonesia ’s Bank Maspion today. The deal will give Kasikornbank ,...

Monday, 30 May 2022 4:23 PM MYTBANGKOK, May 30 — One of Thailand’s largest banks bought a US$220 million (RM961 million) majority stake in Indonesia’s Bank Maspion today.The deal will give Kasikornbank, the kingdom’s second-largest lender by assets, 67.5 per cent of Maspion’s shares and is expected to be finalised by the end of the year, the Thai lender said in a message to the Stock Exchange of Thailand.

It comes as Thailand looks for investment abroad with the local economy stagnating under low interest rates and burdensome household debt.Indonesia — the region’s biggest economy — is a particular target, with the largest commercial firm and rival Bangkok Bank snapping up a US$2.28 billion stake in Bank Permata two years ago.

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for the latest news you need to know.05- 30- 2022 08:00 PM FILE PHOTO: An image created during an investigation into an outbreak of monkeypox, which took place in the Democratic Republic of the Congo, 1996 to 1997, shows the arms and torso of a patient with skin lesions due to monkeypox.Topping the list of nations contributing the most travellers to Thailand was Singapore, while the top five is made up of Asian nations.However, the department’s emergency centre urged vigilance among at-risk communities, including gay men.

Monday, 30 May 2022 4:23 PM MYT BANGKOK, May 30 — One of Thailand’s largest banks bought a US$220 million (RM961 million) majority stake in Indonesia’s Bank Maspion today. The deal will give Kasikornbank, the kingdom’s second-largest lender by assets, 67. They are all currently under quarantine here.5 per cent of Maspion’s shares and is expected to be finalised by the end of the year, the Thai lender said in a message to the Stock Exchange of Thailand. Meanwhile, 724,291 tourists registered for entry via Thailand Pass between April 29 and May 27. It comes as Thailand looks for investment abroad with the local economy stagnating under low interest rates and burdensome household debt. “To date, all 12 individuals have not shown any symptoms over the past seven days. Indonesia — the region’s biggest economy — is a particular target, with the largest commercial firm and rival Bangkok Bank snapping up a US$2. While anyone can contract monkeypox through close contact with an infected person, countries where the disease is now spreading are reporting a higher proportion of cases among communities of gay men.

28 billion stake in Bank Permata two years ago. He added that the confirmed case only developed monkeypox symptoms in Australia, where the diagnosis was made. On Sunday, Thailand recorded 3,649 Covid-19 cases and 24 deaths. The latest deal will allow Kasikornbank to establish a more permanent foothold in Indonesia, following a 2017 decision to invest US$20 million for 10 per cent of Bank Maspion. Kasikornbank opened its first branch in Vietnam last year, and is establishing a presence in Myanmar — having bought a 35 per cent stake in Ayeyarwaddy Farmers Development Bank in 2020 — in addition to Laos and Cambodia. He said five suspected cases of monkeypox in Phuket have tested negative. — AFP Advertisement .