webfact Posted May 27, 2014 Share Posted May 27, 2014 BANKS BIDINGBanks interested in bidding for bridging loan to pay rice farmersSucheera PinijparakarnThe NationBANGKOK: -- Commercial banks have expressed strong interest in bidding for an overall Bt50-billion bridging loan under the rice-pledging project, as they believe the payment of long-overdue money to farmers marks the first step in fuelling the sluggish economy.Their interest comes after the Finance Ministry invited 32 state and private banks to bid for the first phase of a three-year programme of bridging loans totalling Bt50 billion to the Bank for Agriculture and Agricultural Cooperatives (BAAC), so that rice farmers can be paid.The first Bt30-billion tender will take place on June 6, while a second is scheduled for June 13.Vasin Vanichvoranun, executive vice president of Kasikornbank, said yesterday that assuming legal issues surrounding such lending were fully clarified, the bank should have no problems about participating in the bidding."Rice payment [to farmers] is a good way to fuel the economy. However, we also have to pursue other projects, including infrastructure projects, which have not been announced yet," he added.Bridging loans are not risky ventures for banks and, with many institutions interested in joining the bidding, the loan rate will be reasonable for the borrower - in this case, the BAAC.Under such lending, commercial banks will quote an interest rate based on the six-month Bangkok Interbank Offered Rate, which is currently 2.3 per cent.Chansak Fuangfu, director and senior executive vice president of Bangkok Bank, said a bridging loan would have a multiplier effect on the economy, but the bank would have to review its position in terms of overall potential lending demand for the remainder of the year."What the bank has to monitor is additional public investment projects, which will fuel the economy significantly. We are awaiting the upcoming economic road map from the National Council for Peace and Order [NCPO}," he said.Arthid Nanthawithaya, senior executive vice president of Siam Commercial Bank, said the bank was currently considering its liquidity position in light of its readiness to participate in the bidding.In his view, using such a loan to pay rice farmers may not shore up the economy greatly, as the farmers have to repay debt to their own lenders.However, what he does see as a positive sign for the economy - and for boosting private-sector confidence - is the fact that the NCPO has announced it will give importance to public investment, and especially to major infrastructure projects."This assures that public investment will happen soon," he said.When the 2015 fiscal-year budget is finalised, new investment by the private sector is expected to resume after having been largely suspended during the prolonged political unrest, he added.Piti Tantakasem, chief wholesale-banking officer at TMB Bank, said that paying money owed to farmers for rice pledged under the subsidy programme was the first positive sign that the economy and domestic consumption were being given a much-needed shot in the arm.-- The Nation 2014-05-28 Link to comment Share on other sites More sharing options...
webfact Posted May 27, 2014 Author Share Posted May 27, 2014 Please note Extraordinary events are taking place once again, and it is important that this venue remains a source of reliable and accurate information so that those needing information to keep their families safe and informed are able to do so without finding a forum cluttered up with senseless fighting, rumours and speculation. For the time being we will have a zero tolerance policy towards: - Abusive behaviour towards others. - Rumour mongering, speculation, or other inflammatory posts. - Political lobbying or propaganda of any kind. - Abusing the report system. Posts in violation will be deleted without comment and posting rights removed. It is time to set aside your bickering and arguments and help keep others informed. We thank you in advance for your co-operation. Thank You /Amin Link to comment Share on other sites More sharing options...
Popular Post Somtamnication Posted May 27, 2014 Popular Post Share Posted May 27, 2014 Interesting how the banks are now interested in giving these loans . They seem to trust this junta and trust they will get their money back vs. the old government. This is getting more surreal and surprising as the days pass. 7 Link to comment Share on other sites More sharing options...
Chris Lawrence Posted May 28, 2014 Share Posted May 28, 2014 It will be interesting to see how infrastructure spending is handled which may give confidence with the stock market. CNBC reports: 'So far this year, foreign and domestic investors in Thailand mutual fund and exchange traded funds (ETF) have pulled out around $1.28 billion, according to data from Jefferies. Foreign investors yanked $379 million in the May 15-21 period, the data show. In 2013, foreign investors pulled around 194 billion baht, or $6 billion, from Thai shares, reversing the inflows from the previous four years.' They also commented on: "If Thailand didn't have this heightened political unrest, the economy would have grown probably about 4-4.5 percent this year. Now we're looking at something between 1-2 percent," said Thomas Byrne, senior vice president in the sovereign risk group at Moody's. He noted the turmoil has put around $60 billion worth of promised infrastructure projects on hold." While putting the farmers payments back into the economy may help, there is that need to get the budget happening and infrastructure spending going. I wonder what rates the farmers have to pay back at? The 2.3% rate offered as a bridging loan appears generous. i realise that there is a economic road map being prepared, but will this be seen as a proper commercial plan for Thailand? The judge for this will be the international business community. The problem that may be faced is dramatic increase in inflation. Hope they get it right. Link to comment Share on other sites More sharing options...
tomyummer Posted May 28, 2014 Share Posted May 28, 2014 Great. The bridging loan rate is a mere 2.3% 6-month rate whereas the farmers got 10-15 times that from loansharks? True Thai equality at its highest. Link to comment Share on other sites More sharing options...
BillyBobThai Posted May 28, 2014 Share Posted May 28, 2014 It's nice to see life get back to normal after 3 years adrift. Link to comment Share on other sites More sharing options...
chainarong Posted May 28, 2014 Share Posted May 28, 2014 It seems the banks are in favour of this new administration , funny only a few weeks back, their bank charters wouldn't allow for this sort of deal to go through, as they say , twenty four hours in politics is along time. Link to comment Share on other sites More sharing options...
JRSoul Posted May 28, 2014 Share Posted May 28, 2014 It will be interesting to see how infrastructure spending is handled which may give confidence with the stock market. CNBC reports: 'So far this year, foreign and domestic investors in Thailand mutual fund and exchange traded funds (ETF) have pulled out around $1.28 billion, according to data from Jefferies. Foreign investors yanked $379 million in the May 15-21 period, the data show. In 2013, foreign investors pulled around 194 billion baht, or $6 billion, from Thai shares, reversing the inflows from the previous four years.' They also commented on: "If Thailand didn't have this heightened political unrest, the economy would have grown probably about 4-4.5 percent this year. Now we're looking at something between 1-2 percent," said Thomas Byrne, senior vice president in the sovereign risk group at Moody's. He noted the turmoil has put around $60 billion worth of promised infrastructure projects on hold." While putting the farmers payments back into the economy may help, there is that need to get the budget happening and infrastructure spending going. I wonder what rates the farmers have to pay back at? The 2.3% rate offered as a bridging loan appears generous. i realise that there is a economic road map being prepared, but will this be seen as a proper commercial plan for Thailand? The judge for this will be the international business community. The problem that may be faced is dramatic increase in inflation. Hope they get it right. "$60 billion worth of promised infrastructure projects on hold" equates closely to THB2.2 trillion which was to be borrowed. I hope it stays on hold permanently. 1 Link to comment Share on other sites More sharing options...
Eric Loh Posted May 28, 2014 Share Posted May 28, 2014 Seem now the banks are climbing all over themselves to provide loans to the rice scheme. The infrastructure and the water projects are back on the drawing board. OPEC wants the tablet scheme to continue and the budget is back on track. Looks like pre PDRC days. Except for stopping the amnesty bill, the 6+ months of PDRC really has not achieved anything. Link to comment Share on other sites More sharing options...
Pib Posted May 28, 2014 Share Posted May 28, 2014 I expect all Thai banks will participate to a degree...if nothing else to stay on the good side of the NCPO. Plus, the banks know there probably won't be anyone such as unions/employees, customers, or outside groups protesting against the bank if the bank does participate in the bidding....before some banks got some serious backlash for participating in the loans. 1 Link to comment Share on other sites More sharing options...
djjamie Posted May 28, 2014 Share Posted May 28, 2014 One can be glad the Junta is not a "caretaker" Junta lest the banks not offer the loans due to legality concerns. I see the General is a director of the TMB yet there is still transparent bidding going on though a diversified spread of financial institutions. Well done. I am sure the bidding will go smoothly. Link to comment Share on other sites More sharing options...
Chris Lawrence Posted May 28, 2014 Share Posted May 28, 2014 Interesting how the banks are now interested in giving these loans . They seem to trust this junta and trust they will get their money back vs. the old government. This is getting more surreal and surprising as the days pass. I think its a more of the 'have too'. If the rate went off-shore I don't think the low rate would not be the same. But the banks have to answer to their Directors who should answer to the shareholders. I wonder who some of the Directors may be? Link to comment Share on other sites More sharing options...
Popular Post Baerboxer Posted May 28, 2014 Popular Post Share Posted May 28, 2014 Seem now the banks are climbing all over themselves to provide loans to the rice scheme. The infrastructure and the water projects are back on the drawing board. OPEC wants the tablet scheme to continue and the budget is back on track. Looks like pre PDRC days. Except for stopping the amnesty bill, the 6+ months of PDRC really has not achieved anything. On the contrary. The last 6 months have precipitated the start of the much needed reform process, such as the police. This gives commercial banks confidence to loan money as they are confident the current government will pay back as promised. Such confidence in the previous administration had been eroded to nothing, The issue with the tablet scheme was the choice of a totally inappropriate supplier that needs to be fully investigated. The infrastructure and water projects are much needed. But with real project specifications and detail, planning and most importantly full transparency and accountability on the spending. These important elements were either missing or in the case of transparency and accountability undesired under the previous administration. Had these projects proceeded, as envisaged, it would have been very difficult to measure the outcome. Hopefully, correcting this, following appropriate procedures, including EIA's etc where necessary, and reducing the now very high levels of corruption will be part of the reform program. We shall see. 4 Link to comment Share on other sites More sharing options...
Eric Loh Posted May 28, 2014 Share Posted May 28, 2014 Seem now the banks are climbing all over themselves to provide loans to the rice scheme. The infrastructure and the water projects are back on the drawing board. OPEC wants the tablet scheme to continue and the budget is back on track. Looks like pre PDRC days. Except for stopping the amnesty bill, the 6+ months of PDRC really has not achieved anything. On the contrary. The last 6 months have precipitated the start of the much needed reform process, such as the police. This gives commercial banks confidence to loan money as they are confident the current government will pay back as promised. Such confidence in the previous administration had been eroded to nothing, The issue with the tablet scheme was the choice of a totally inappropriate supplier that needs to be fully investigated. The infrastructure and water projects are much needed. But with real project specifications and detail, planning and most importantly full transparency and accountability on the spending. These important elements were either missing or in the case of transparency and accountability undesired under the previous administration. Had these projects proceeded, as envisaged, it would have been very difficult to measure the outcome. Hopefully, correcting this, following appropriate procedures, including EIA's etc where necessary, and reducing the now very high levels of corruption will be part of the reform program. We shall see. Yes totally agreed with you that the projects require more transparency and accountability. Whether the methods employed by the previous government were in line with good practices are a moot point. Take for example the questions of the infrastructure out of budget loan, it has its merits and demerits depending on who is speaking. In any case, all the projects have been strongly challenged by activists and oppositions in courts which are good and sufficient as a check and balance without the need for the PDRC to step in with their physical and strong arm tactics. I will speak the same for police reform, it again is moot and seem to come from the deprived side. You don't hear them talk about the other uniformed group reform which is equally needed. Anyway all these are water over the bridge and I am looking foward to the proper reforms and a better Thailand. Link to comment Share on other sites More sharing options...
Popular Post rubl Posted May 28, 2014 Popular Post Share Posted May 28, 2014 (edited) Seem now the banks are climbing all over themselves to provide loans to the rice scheme. The infrastructure and the water projects are back on the drawing board. OPEC wants the tablet scheme to continue and the budget is back on track. Looks like pre PDRC days. Except for stopping the amnesty bill, the 6+ months of PDRC really has not achieved anything. On the contrary. The last 6 months have precipitated the start of the much needed reform process, such as the police. This gives commercial banks confidence to loan money as they are confident the current government will pay back as promised. Such confidence in the previous administration had been eroded to nothing, The issue with the tablet scheme was the choice of a totally inappropriate supplier that needs to be fully investigated. The infrastructure and water projects are much needed. But with real project specifications and detail, planning and most importantly full transparency and accountability on the spending. These important elements were either missing or in the case of transparency and accountability undesired under the previous administration. Had these projects proceeded, as envisaged, it would have been very difficult to measure the outcome. Hopefully, correcting this, following appropriate procedures, including EIA's etc where necessary, and reducing the now very high levels of corruption will be part of the reform program. We shall see. Yes totally agreed with you that the projects require more transparency and accountability. Whether the methods employed by the previous government were in line with good practices are a moot point. Take for example the questions of the infrastructure out of budget loan, it has its merits and demerits depending on who is speaking. In any case, all the projects have been strongly challenged by activists and oppositions in courts which are good and sufficient as a check and balance without the need for the PDRC to step in with their physical and strong arm tactics. I will speak the same for police reform, it again is moot and seem to come from the deprived side. You don't hear them talk about the other uniformed group reform which is equally needed. Anyway all these are water over the bridge and I am looking foward to the proper reforms and a better Thailand. Your memory shows interesting gaps. The lack of transparency in the Yingluck government for instance, the attempts to push through infrastructure projects without proper environment impact studies, without even trying to listen to people effected by such projects. Note that the 2014/2015 NationalBudget being prepared seems to be for 2.5 trillion Baht with planned deficit of 200 billion (2013/2014 2.52 tr. and 250 b. respectively). The budget also has provisions for restarting all infrastructure projects which the Yingluck government had taken out of the NationalBudget and put in their 2.2 trillion Baht loan proposal. Suwit Rojanavanich, an adviser to the Public Debt Management Office (PDMO), said the 2015 budget remains on track even though infrastructure investment would be included in the spending. Etc., etc. It's a moot point who was more devious the Yingluck government or you in trying to defend them. Edited May 28, 2014 by rubl 6 Link to comment Share on other sites More sharing options...
Gunna Posted May 28, 2014 Share Posted May 28, 2014 Interesting how the banks are now interested in giving these loans . They seem to trust this junta and trust they will get their money back vs. the old government. This is getting more surreal and surprising as the days pass. Really simple - When PTP was caretaker it was illegal, and now under the Army it is legal for BAAC to borrow to pay the farmers. 1 Link to comment Share on other sites More sharing options...
siampolee Posted May 28, 2014 Share Posted May 28, 2014 Eric Loh post # 9 Seem now the banks are climbing all over themselves to provide loans to the rice scheme. The infrastructure and the water projects are back on the drawing board. OPEC wants the tablet scheme to continue and the budget is back on track. Looks like pre PDRC days. Except for stopping the amnesty bill, the 6+ months of PDRC really has not achieved anything. Think again , Strange how after the Shinwatra clan and their ilk have been removed the banks are willing to advance financial support. That move might just be due to the fact that monies will be going to where they should be going without those ''commission payments'' and foreign currency exchange practices to exchange baht for the dirham. Look at the cleaning out of somewhat questionable officials too. Oh yes much has been achieved to the detriment of the Shinwatras and their ilk. 2 Link to comment Share on other sites More sharing options...
retsdon Posted May 28, 2014 Share Posted May 28, 2014 Same as the fuel shortage in Egypt. It's quite wonderful how a military regime with autocratic power can open financial channels which had previously been blocked by the good and wise. 1 Link to comment Share on other sites More sharing options...
bigbamboo Posted May 28, 2014 Share Posted May 28, 2014 Interesting how the banks are now interested in giving these loans . They seem to trust this junta and trust they will get their money back vs. the old government. This is getting more surreal and surprising as the days pass. Thaksinomics is no more and business confidence rises. Ironic isn't it. Link to comment Share on other sites More sharing options...
Chris Lawrence Posted May 28, 2014 Share Posted May 28, 2014 Interesting how the banks are now interested in giving these loans . They seem to trust this junta and trust they will get their money back vs. the old government. This is getting more surreal and surprising as the days pass. Thaksinomics is no more and business confidence rises. Ironic isn't it. Not ironic, but more of a paradox that is brought about by a phenomenon brought on by extreme pressure of the old boys network. Have inflows started on the stock exchange? from foreign investors. Your call may be premature. Link to comment Share on other sites More sharing options...
Publicus Posted May 28, 2014 Share Posted May 28, 2014 It's nice to see life get back to normal after 3 years adrift. Yes, the usual snouts are at the usual trough again. Link to comment Share on other sites More sharing options...
ginjag Posted May 28, 2014 Share Posted May 28, 2014 It's nice to see life get back to normal after 3 years adrift. Yes, the usual snouts are at the usual trough again. Why speak bad like that, we have a positive direction much more than before so why not go along with it for now. If it turns out bad then I will be amongst the critics as in the PTP government, for now lets crawl slowly and see what happens. Unless you are not willing to accept this way. 2 Link to comment Share on other sites More sharing options...
Publicus Posted May 28, 2014 Share Posted May 28, 2014 It's nice to see life get back to normal after 3 years adrift. Yes, the usual snouts are at the usual trough again. Why speak bad like that, we have a positive direction much more than before so why not go along with it for now. If it turns out bad then I will be amongst the critics as in the PTP government, for now lets crawl slowly and see what happens. Unless you are not willing to accept this way. A military dictatorship is never positive in any respect, shape, form. No more positive than those who assault innocent voters at polling stations to destroy a legitimate democratic election as occurred Feb 2nd and was supported by the rulings of the Bangkok ammart.. Crawling or groveling? Surely the latter. Link to comment Share on other sites More sharing options...
ginjag Posted May 28, 2014 Share Posted May 28, 2014 It's nice to see life get back to normal after 3 years adrift. Yes, the usual snouts are at the usual trough again. Why speak bad like that, we have a positive direction much more than before so why not go along with it for now. If it turns out bad then I will be amongst the critics as in the PTP government, for now lets crawl slowly and see what happens. Unless you are not willing to accept this way. A military dictatorship is never positive in any respect, shape, form. No more positive than those who assault innocent voters at polling stations to destroy a legitimate democratic election as occurred Feb 2nd and was supported by the rulings of the Bangkok ammart.. Crawling or groveling? Surely the latter. Give it a break-your never going to be satisfied. Sorry but look at your Pro PTP posts and you accuse others of groveling ?? Election--ammart--innocent voters---your wheel has come off, better you collect it and play catch up. Now it's doom and gloom for you is it, until PTP and election time comes around---Not going to happen. I think tread careful on the Army issues ---TVF has warned about it. your now out of date. Like the Dems were after Yingluck was elected. get over it, like it or lump it. Link to comment Share on other sites More sharing options...
rubl Posted May 28, 2014 Share Posted May 28, 2014 Why speak bad like that, we have a positive direction much more than before so why not go along with it for now. If it turns out bad then I will be amongst the critics as in the PTP government, for now lets crawl slowly and see what happens. Unless you are not willing to accept this way. A military dictatorship is never positive in any respect, shape, form. No more positive than those who assault innocent voters at polling stations to destroy a legitimate democratic election as occurred Feb 2nd and was supported by the rulings of the Bangkok ammart.. Crawling or groveling? Surely the latter. In the mean time back down here on Earth life seems to go on a wee bit more relaxed since all anti-government and anti-anti-government protesters have returned home. Plus of course Banks are more confident that they will have no legal problems lending short-term to the NCPO led 'government' which is letting the bureaucrats formulate a 2014/2015 National Budget of 2.5 trillion Baht with deficit of 200 billion AND even some of the intrastructure projects back into it rather than outside in a 2.2 trillion 'wishfull thinking' scheme. No details on the provisions (to be) made for the 2011/2014 RPPS obligations, nor what will come in its place. Link to comment Share on other sites More sharing options...
Publicus Posted May 28, 2014 Share Posted May 28, 2014 Yes, the usual snouts are at the usual trough again. Why speak bad like that, we have a positive direction much more than before so why not go along with it for now. If it turns out bad then I will be amongst the critics as in the PTP government, for now lets crawl slowly and see what happens. Unless you are not willing to accept this way. A military dictatorship is never positive in any respect, shape, form. No more positive than those who assault innocent voters at polling stations to destroy a legitimate democratic election as occurred Feb 2nd and was supported by the rulings of the Bangkok ammart.. Crawling or groveling? Surely the latter. Give it a break-your never going to be satisfied. Sorry but look at your Pro PTP posts and you accuse others of groveling ?? Election--ammart--innocent voters---your wheel has come off, better you collect it and play catch up. Now it's doom and gloom for you is it, until PTP and election time comes around---Not going to happen. I think tread careful on the Army issues ---TVF has warned about it. your now out of date. Like the Dems were after Yingluck was elected. get over it, like it or lump it. You're still carrying on as per usual - PTP and PTP and PTP etc etc etc. Is there going to be a massive purge? Enquiring minds want to know. I expect there will be and that we're in the embryonic stages of it. If a purge or purges happen, it will be the Army that conducts it, like it or disapprove of it - that is present fact. I'm addressing the present and the concerns of the present, not to mention the future. Killing the Feb 2nd election is a present reality manifest in the most recent adverse developments. I say again, the usual snouts have returned to the now expanded trough this time without any competition, checks or balances whatsoever. You defend that and dwell on the PTP, PTP and more PTP. Your warnings and threats make you sound like Mr Martial Law himself. Link to comment Share on other sites More sharing options...
rubl Posted May 28, 2014 Share Posted May 28, 2014 A military dictatorship is never positive in any respect, shape, form. No more positive than those who assault innocent voters at polling stations to destroy a legitimate democratic election as occurred Feb 2nd and was supported by the rulings of the Bangkok ammart.. Crawling or groveling? Surely the latter. Give it a break-your never going to be satisfied. Sorry but look at your Pro PTP posts and you accuse others of groveling ?? Election--ammart--innocent voters---your wheel has come off, better you collect it and play catch up. Now it's doom and gloom for you is it, until PTP and election time comes around---Not going to happen. I think tread careful on the Army issues ---TVF has warned about it. your now out of date. Like the Dems were after Yingluck was elected. get over it, like it or lump it. You're still carrying on as per usual - PTP and PTP and PTP etc etc etc. Is there going to be a massive purge? Enquiring minds want to know. I expect there will be and that we're in the embryonic stages of it. If a purge or purges happen, it will be the Army that conducts it, like it or disapprove of it - that is present fact. I'm addressing the present and the concerns of the present, not to mention the future. Killing the Feb 2nd election is a present reality manifest in the most recent adverse developments. I say again, the usual snouts have returned to the now expanded trough this time without any competition, checks or balances whatsoever. You defend that and dwell on the PTP, PTP and more PTP. Your warnings and threats make you sound like Mr Martial Law himself. Please elaborate on the 'usual snouts' that is assuming you're not into defaming the NCPO, something which for those of us in Thailand is against (Martial) Law. All in all you accuse without a shred of proof, just assumptions. BTW 'killing the Feb2 elections is present manifest'? You mean those elections almost FOUR months ago and invalidated TWO months AGO are still present in your manifest? Anyway farmers get finally paid after first the Yingluck administration lied about needing 270 billion for 2013/2014 and having made the reservation, than forgot to pay for many months and finally tried to borrow 130 billion while in caretaker mode. Criminally negligent I call that. 2 Link to comment Share on other sites More sharing options...
surangw Posted May 28, 2014 Share Posted May 28, 2014 in other words, the farmers are still waiting for their money. so much for the army promised paying rapidly Link to comment Share on other sites More sharing options...
Publicus Posted May 29, 2014 Share Posted May 29, 2014 A military dictatorship is never positive in any respect, shape, form. No more positive than those who assault innocent voters at polling stations to destroy a legitimate democratic election as occurred Feb 2nd and was supported by the rulings of the Bangkok ammart.. Crawling or groveling? Surely the latter. Give it a break-your never going to be satisfied. Sorry but look at your Pro PTP posts and you accuse others of groveling ?? Election--ammart--innocent voters---your wheel has come off, better you collect it and play catch up. Now it's doom and gloom for you is it, until PTP and election time comes around---Not going to happen. I think tread careful on the Army issues ---TVF has warned about it. your now out of date. Like the Dems were after Yingluck was elected. get over it, like it or lump it. You're still carrying on as per usual - PTP and PTP and PTP etc etc etc. Is there going to be a massive purge? Enquiring minds want to know. I expect there will be and that we're in the embryonic stages of it. If a purge or purges happen, it will be the Army that conducts it, like it or disapprove of it - that is present fact. I'm addressing the present and the concerns of the present, not to mention the future. Killing the Feb 2nd election is a present reality manifest in the most recent adverse developments. I say again, the usual snouts have returned to the now expanded trough this time without any competition, checks or balances whatsoever. You defend that and dwell on the PTP, PTP and more PTP. Your warnings and threats make you sound like Mr Martial Law himself. Please elaborate on the 'usual snouts' that is assuming you're not into defaming the NCPO, something which for those of us in Thailand is against (Martial) Law. All in all you accuse without a shred of proof, just assumptions. BTW 'killing the Feb2 elections is present manifest'? You mean those elections almost FOUR months ago and invalidated TWO months AGO are still present in your manifest? Anyway farmers get finally paid after first the Yingluck administration lied about needing 270 billion for 2013/2014 and having made the reservation, than forgot to pay for many months and finally tried to borrow 130 billion while in caretaker mode. Criminally negligent I call that. "Please elaborate on the 'usual snouts' that is assuming you're not into defaming the NCPO, something which for those of us in Thailand is against (Martial) Law." You're just too much rubl. Consistently. Actually, you're not enough there, just not enough there at all. Always and forever. rubl. Link to comment Share on other sites More sharing options...
Publicus Posted May 29, 2014 Share Posted May 29, 2014 in other words, the farmers are still waiting for their money. so much for the army promised paying rapidly Yes indeed so we ain't seen nuthin yet. For one thing, the Army finance officers think a bridge loan to pay the farmers means they get to build another bridge, which undoubtedly will be to nowhere. From Nontaburi over Bangkok to Samut Prakarn sounds about right for the mega bucks that would involve. For another thing, the Army is going to have to shit out the multiple billions of baht, which means the printing presses are going to get fired up again into overdrive, which will do wonders for the baht and for the government's own special accounting colors, which are in the red and nowhere near the black. And given that the Army is in this for the long haul, the opportunities for the boyz in the brass hats are simply without limit. Link to comment Share on other sites More sharing options...
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