Author: Gill Baker Thailand has a huge number of debt restructuring cases and non-performing borrowers but they are steadily being dealt with. And the signs are that the authorities are starting to break the back of the problem, although there is still a long way to go.
In total some 282,000 companies were restructured, or were in the process of being restructured, in April and May alone, representing Bt2.286 trillion ($57 billion) of outstanding credit. Of those, 40,000 cases were pending completion, and that pile is growing by around 6,000 new cases a month, based on most recent figures, and work on sorting out the large defaulters is still only halfway through.
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