Many of Bangkok’s drivers owned riches beyond their wildest dreams – and never even knew about it. Mercedes, houses and even whole companies were in the names of lowly drivers as nominees for their bosses. As Thai authorities now grapple with the black hole of debt which engulfed the country, recovering the massive loans – many made to friends or relatives – is not proving as easy as hoped.
“Some of these drivers even have better credit than myself,” jokes Montri Chenvidyakarn, acting secretary-general of the Financial Sector Restructuring Authority (FRA), the body set up to sort out the assets of the 56 defunct finance companies closed down by the government last year.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
