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President Agri debt at dead end

Local bankers hold out little hope of recovering billions of baht worth of loans made to the defunct rice exporter President Agri Trading. Nine banks have filed claims with the Legal Execution Department after the Bankruptcy Court earlier this month placed assets of the company and its managing director, Apichart Chansakulporn, into receivership. The court order took effect on Jan 12. Bank claims against President Agri are: Bt2.2b to TMB Bank, Bt2b to Krung Thai Bank, Bt1.7b to CIMB Thai, Bt1.4b to Bangkok Bank, Bt1b to HSBC Thailand, Bt580m to United Overseas Bank (Thai), Bt220m to the Islamic Bank of Thailand, Bt140m to Kasikornbank and Bt29m to ACL Bank.

ThaiVest Editorial Team