Anyone Know How To Sell Siam Commercial Bank Issued Debentures On A Secondary Market?

[alanho803]

I have bought a million baht worth of debentures from SCB a few years ago and will like to sell it. Spoken to the people at SCB but not eventful. Is there anyone out here that knows what to do? Thanks in Advance.

[MJCM]

So they sold you some of their debt, but they don't wanna buy it back ?

Whom did you buy it from ? Maybe that's a good place to start.

[meatboy]

who wants to buy bills of exchange,there has been plenty flying round lately by the banks you would be lucky to get half of your so called investment back.there is no protection what so ever.

[alanho803]

I had bought it from Siam Commercial bank maybe 4-5 years ago.. The manager of the branch handled the transaction. I had tried to sell it back to them but all i got from them is they have acknowleged my request and are waiting for a buyer That was back in May. Obviously they had stonewalled me. I am not too worried about making profit I am still getting the promised Interest credited to my account biannually am just worried about the liquidity. Just in case i need to sell it urgently I want to know if there is any market for it. My missus had just being diagnosed with brain tumor (non-invasive) she is taking medication to see if it will go away by itself. No mention of surgery in the immediate future but just want to make sure i am financially prepared if it ever gets there.Any information will be greatly appreciated. Thanks in advance

[Naam]

I had bought it from Siam Commercial bank maybe 4-5 years ago.. The manager of the branch handled the transaction. I had tried to sell it back to them but all i got from them is they have acknowleged my request and are waiting for a buyer That was back in May. Obviously they had stonewalled me. I am not too worried about making profit I am still getting the promised Interest credited to my account biannually am just worried about the liquidity. Just in case i need to sell it urgently I want to know if there is any market for it. My missus had just being diagnosed with brain tumor (non-invasive) she is taking medication to see if it will go away by itself. No mention of surgery in the immediate future but just want to make sure i am financially prepared if it ever gets there.Any information will be greatly appreciated. Thanks in advance

why don't you tell us about the interest rate (fixed or floating) and maturity? interest rates where higher 4-5 years ago if i recall correctly.

perhaps somebody would be interested if the paper can be transferred without any problems.

[meatboy]

reading behind the lines it seems they are tranferable to another person but you must guarantee the loan that is what it is,it also can be used against borrowing,so if u needed money in a hurry go back to scb and see what they will lend you,seeing how thai banks work i woudnt think it will be much,it does seem difficult to sell them good luck and hope your partner gets better.

[alanho803]

The details of this debenture is as follow:

Issuing Date : 15 May 2008

Redemption Date : 15 May 2018

Fixed interest rate from First to the second year is 4.25% per annum, from the 3rd yr to the 6th year 5.25% per annum and from the 7th to the 10th year is 6.25% per annum

Interest is paid semi-annually every 15 may and 15 Nov of each year.

By the end of the 10th year I will get back my 1 million baht.

Now If any of you guys out there want to invest. I am willing to take a loss just to have a peace of mind. Make me a firm offer just don't insult me please.

Of course we will go to SCB bank together to complete the deal before any money changes hand.

Thanks

Alan

[Naam]

where are you located Alan?

[meatboy]

The details of this debenture is as follow:

Issuing Date : 15 May 2008

Redemption Date : 15 May 2018

Fixed interest rate from First to the second year is 4.25% per annum, from the 3rd yr to the 6th year 5.25% per annum and from the 7th to the 10th year is 6.25% per annum

Interest is paid semi-annually every 15 may and 15 Nov of each year.

By the end of the 10th year I will get back my 1 million baht.

Now If any of you guys out there want to invest. I am willing to take a loss just to have a peace of mind. Make me a firm offer just don't insult me please.

Of course we will go to SCB bank together to complete the deal before any money changes hand.

Thanks

Alan

you should put this on e-bay.

[Naam]

you should put this on e-bay.

a no no! cash against documents at an SCB branch which can verify the debenture's authenticity.

[alanho803]

Naam, I live in bangkok at Ram Intra. If you or you know anyone that is interested you can call me Mobile : 0832976667. I attached a copy of the debenture here for whoever that is interested.

[Naam]

Alan,

my guess why the bank can't point to a secondary market is because it's a subordinated and unsecured debenture, meaning interest won't be paid in years in which the bank doesn't make any profit. there's also no mentioning of "cumulative" which means if interest was not paid due to lack of profit but next year(s) balance sheet shows a profit, interest in arrears has to be paid.

it's therefore save to assume interest is non-cumulative. "unsecured" is rather irrelevant because it is fair to assume that SCB doesn't go bankrupt till may 2018 even though the doom&gloomers in the thread "Financial Crisis" will beg to differ

i'm sending you a PM later.