Local banks & political networks to buffet US$18 billion for Bangkok mass transit

Matichon reports Thailand’s junta, statement by Deputy Permanent Secretary to the Ministry of Finance, is looking to borrow, about US$15 billion to US$ 18 billion from “Local Banks” to fund 5 Bangkok areas, mass transit system. So who are the “Local banks?”

Of note, of course, Bangkok’s traditional elite has their Dictator, Prayuth, in place, and so of course, money for Bangkok. Not so long ago, the Bangkok traditional elite, was touting the idea, that the people in other parts of Thailand, should have little rights, such as the right to vote, because the Bangkok people, paid most of Thailand’s tax. Thai of course, is a lie, for many reasons, such as Thailand has a VAT Tax system, that is based on consumption, & most Thais, live outside of Bangkok.

Also of note, Thailand SMEs and the poor are starving for funding.

The following is from Matichon (Source)

นายพงษ์ภาณุ เศวตรุนทร์ รองปลัดกระทรวงการคลัง กรรมการการรถไฟฟ้าขนส่งมวลชนแห่งประเทศไทย (รฟม.) เปิดเผยว่า กระทรวงการคลังเตรียมกู้เงินจากสถาบันการเงินในประเทศเพื่อนำมาใช้ในโครงการ ก่อสร้างรถไฟฟ้าของ รฟม.ใน 5 เส้นทาง วงเงินประมาณ 2 แสนล้านบาท คือ 1.รถไฟฟ้าสายสีน้ำเงิน ส่วนต่อขยายช่วงบางแค-พุทธมณฑลสาย 4 2.รถไฟฟ้าสายสีเขียว หมอชิต-สะพานใหม่-คูคต 3.รถไฟฟ้าสายสีชมพู ช่วงแคราย-มีนบุรี 4.รถไฟฟ้าสายสีเหลือง ลาดพร้าว-สำโรง และ 5.รถไฟฟ้าสายสีส้ม ช่วงตลิ่งชัน-ศูนย์วัฒนธรรม-มีนบุรี เพราะจะได้ดอกเบี้ยที่ต่ำกว่าการกู้เงินจากต่างประเทศ

“เศรษฐกิจไทยจะฟื้นเร็วหรือช้าขึ้นกับการลงทุนภาค รัฐ โดยเฉพาะการลงทุนระบบราง หากรัฐมีความมุ่งมั่นในการพัฒนาโครงการเหล่านี้ จะช่วยสร้างความมั่นใจให้เอกชนไม่ว่าทางตรงหรือทางอ้อม ประกอบกับรัฐยังมีนโยบายเปิดให้เอกชนเข้ามาร่วมลงทุนด้วย” นายพงษ์ภาณุกล่าว

 Largest Thai Banks

Bangkok Bank (US$79.0 billion asset) is owned mostly by the Sophonpanich family, with Chartsiri Sophonpanich, its currwent president. Bangkok Bank, through family network, is linked to Thailand’s anti-Democracy, Democrat Party, and is rumored to be a big source of funds, for the various Democrat Party, linked, destabilizing tactics, to get rid of the Shinawatra Family influence in Thailand. The bank was boycotted by the mostly pro Democracy, Red Shirts.

Siam Commercial Bank (US$77.1 billion asset) Chairman of the Board is Anand Panyarachun, an iconic Bangkok traditional elite that gets involved in politics, being installed by a coup, as Thailand’s prime minister. His record of performance, includes, VAT Tax and massive corruption in the selling of state owned, oil refineries.

Krung Thai Bank (US$76.5 billion asset) major shareholder is currently the Ministry of Finance through a shareholding of 6,184 billion shares by the Financial Institutions Development Fund (FIDF) accounting for 55.31% of the total shares. The bank, for decades, has been involved in politics, and the rumor is, two of Thailand’s former best friends, Thaksin and Sondhi of ther Yellow Shirts, became enemies, when Thaksin refused to help Sondhi, in Sondhi’s troubled load portfolio at the bank.

Kasikorn Bank (US$69.7 billion asset), is Thailand’s most admired bank, having revolutionized its banking operation, that started a banking revolution in Thailand to modernize their operations. However, the bank has a deep net-work in Thailand and the rumor is Bantoon Lumsum, the bank president, have thought about a direct dibbled into politics, on the side of ther Neo Fascist, Bangkok traditional elite. Notable senior executive at the bank includes Prasarn Trairatvorakul (2004-2010)– 22nd Governor of the Bank of Thailand (2010), former Secretary-General of the SEC & M.R. Pridiyathorn Devakula (1971) – former Deputy Prime Minister and Minister of Finance (2006-2007), former (20th) Governor of the Bank of Thailand (2001), former President of Export-Import Bank of Thailand & now serving Thailand’s Dictator Prayuth.

On Bank of Ayudhya (US$35.9 billion asset), on 18 December 2013, The Bank of Tokyo – Mitsubishi UFJ, Ltd. (BTMU), which is the wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest banking group and one of the world’s largest and most diversified financial groups, replaced GE Capital as the major shareholder of Krungsri.

On Thanachart Bank (US$32 billion asset), Scotiabank has a strong presence in Thailand through its 49% owned affiliate Thanachart Bank. With the recent acquisition of Siam City Bank, Thanachart Bank is now the 5th largest bank in Thailand with over 16,000 staff serving almost 4 million customers through 680 branches and 2,100 ATMs across the country.

Other Thai banks include:

Kiatnakin Bank, CIMB Thai (subsidiary of CIMB of Malaysia), Standard Chartered Bank (Thai) (subsidiary of Standard Chartered Bank of the UK), United Overseas Bank (Thai) (subsidiary of UOB of Singapore), Tisco Bank, ICBC Bank (subsidiary of ICBC of China) & Mega ICB (subsidiary of Mega ICB of Taiwan)

Foreign Banks Include:

The Bank of Tokyo-Mitsubishi (Japan) US$7.3 billion asset

Citibank (US) US$5.7 billion asset

Sumitomo Mitsui (Japan) US$5.6 billion asset

Mizuho (Japan) US$4.4 billion asset

HSBC US$3.7 billion asset

Others US$3.8 billion asset

Total  US$36.1 billion asset

5 foreign banks (European):

ABN AMRO Bank N.V, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Deutsche Bank & HSBC

7 foreign banks (Asian):

Bank of China Ltd, Indian Overseas Bank, Oversea-Chinese Banking Corporation, RHB Bank Berhad, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Sumitomo Mitsui Banking Corporation & Mizuho Corporate Bank, Ltd.

4 foreign banks (North American):

Citibank Thailand, JP Morgan Chase, Bank of America N.A & Scotiabank (Bank of Nova Scotia) – through subsidiary Thanachart Bank


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