Shares of Kasikornbank (KBANK) and Siam Commercial Bank (SCB) fell sharply on Thursday as investors were concerned that Stark Corporation (STARK) may default on loan payments with both banks, say analysts.
By Jonathan Breen
17 Mar 2021
The controlling shareholder of Thailand’s Stark Corp has sold a chunk of his shares in the company, raising Bt3.77bn ($122.4m) after pricing the deal towards the top of price guidance. Vonnarat Tangkaravakoon, a member of one of Thailand’s wealthiest business families, turned to investors on Tuesday to sell 952m of his shares in Stark, equal to 8% of its share capital. Stark is an investment company that focuses on manufacturing and services in the industrial sector. Its main business
. Already a subscriber? Login
28 01 2021
An op-ed at both Asia Sentinel and Eurasia Review, titled “Hierarchy, Power And Inequality In Thailand,” and published a few days ago, there’s a useful, short account of the country’s oligarchy. We reproduce the interesting bits:
Although Thailand is one of the region’s wealthiest states and has been cited as a success story of modernization and development, the gap between rich and poor is widening. Thailand is placed in the world’s top inequitable countries, in terms of wealth and income distribution.
According to a recent Credit Suisse study,
one percent of the population holds 66.9 percent of the nation’s wealth, with 36 percent of equity held by only 500 people. According to the World Bank, poverty has grown from 7.21 percent in 2015 to 9.85 percent in 2018.