SET believes Dubai financial crisis has no impact on Thai registered corporates

Dubai financial crisis


The Managing Director of the Stock Exchange of Thailand (SET) believed the financial crisis in Dubai had no impacts on Thai registered corporates, since the incident differed from the crisis in United States.

Ms Pattariya Benjapolchai, the Managing Director of SET said that the organization had coordinated with the registered corporates and Thai joint venture businesses, to gather information of affected firms from the debt moratorium of Dubai World Company at 3,500 million USD. It was found that some businesses were defunct and some got 100 million THB damages, the situation was not a cause of concern anyway.

Most of investors were not worried about such incident as it was an individual problem of Dubai World‘s liquidity and would not affect businesses on a wide scale. However, the situation assessment would be conducted again due to huge amounts of investment of the troubled company. (NNT)