National Bank freezes 5-year debt, carrying 1 billion in travel

National Bank-Travel-1

“Magic” pushing a big package to carry the tourism sector Covering the supply chain – airlines, “BOT – Treasury” knocked “debt freezing” measures for 3-5 years for debtors to transfer debt repayment. With the opening of the “buy-back” condition, the project budget is 100 billion, the owner can request for rent, do business, find liquidity, feed employees, prepare to brew the cabinet. Prepare to announce tax exemption, strike, transfer, pay off debt

Mr. Archom Termpittayapaisit The Minister of Finance said, “Prachachart Business” said that the Ministry of Finance is now rushing to reach a conclusion for the package of measures to take care of the tourism sector. Which will be gathered into a large package covering the entire supply chain With many parts Some of them are existing measures.

And another part is the proposal of the Chamber of Commerce of Thailand The request to take care of the tourism sector and SMEs will try to complete this within February.

Mr. Krisada Chinavichana The Permanent Secretary of the Ministry of Finance said that the initial tourism measures have been approached. But still remaining clarity in the details Which the relevant departments are considering By on February 9, the past Supatthanaphong Phanmichaow, Deputy Prime Minister and Minister of Energy, also visited the Ministry of Finance to discuss the matter, expecting to be able to propose to the Cabinet for consideration.

“All tourism groups want us to help out. But I understand that what the government is looking at and is about to issue is helping all groups. Including the airline business And will be revised The Bank of Thailand (BOT) Softloan Act, which the Minister of Finance is discussing with those involved in this matter “ Mr. Krisada said.

Frozen 5-year travel debt

A source from the banking industry revealed. “Business Nation” that due to the situation of the COVID-19 epidemic It was so violent and protracted that the tourism sector was in a difficult situation. And it is unclear when foreign tourists will be able to return. Latest Bank of Thailand (BOT), Ministry of Finance

The Fiscal Policy Office (FPO) has agreed in principle to the project “Asset Warehousing” to assist tour operators who are incapable of debt repayment in a manner “Freeze the debt” to help the debtor without the burden of both principal and interest for a period of 3-5 years.

However, tourism operators to participate in this program must be those affected by the COVID-19 period. If you have had business problems before you will not be able to participate in the project. And must have real estate collateral with creditors such as business groups, hotels, restaurants, tourist attractions, etc.

“It is considered to help entrepreneurs who have the potential to do business. But faced the COVID-19 crisis Therefore giving the debt freeze first Because if the bank does not do this The debtor will become a bad debt. Because of the current situation, it is still unsure how quickly the tourism sector will recover. The project is open for 3-5 years, depending on the agreement of the bank with the debtor. “

Open the way of repurchase receivables

For the participating debtor must “Transfer property to pay debts” to help the debtor no burden on both principal and interest. There will be a condition that entrepreneurs can buy back from the bank after the freezing. Along with the bank will provide additional credit as well In order to fully resume business after the tourism sector recovered.
In addition, the debtor has the right to lease such property for business during the period. “Freezing debts” such as renting a hotel, restaurant to open for services to allow employees to work and earn a living.

However, it all depends on the willingness of the bank and the debtor. Which is considered to be a mechanism to help both parties Because in the part of the bank creditor, if there is no way to help, the debtor will become an NPL. And eventually become the burden of the bank

Set a limit of 1 billion

The source said that the BOT and NESDB had a meeting with the Thai Bankers’ Association. To help entrepreneurs in the tourism industry all along However, for the debt freeze project designed by the BOT and NESDB, each creditor bank will operate in a similar way. “Who bank, bank it?”

Because of the information found that although 1 debtor, but there are many creditors, but most of the collateral will be separated, for example, one hotel has 3 creditors, but the collateral or the title deed will be different. Therefore, each bank must separately negotiate with the debtor. From the original idea that all creditors come together to restructure the debt.

“For the freeze-off credit limit Initially, it is expected to be approximately one hundred million baht, because from the exchange of information together, assessing the eligible debtor and who will join the project will not exceed the said limit. While the debtor does not want to transfer assets to pay the debt, there will be a channel of the National Softloan Bank. Which is in the process of revising and unlocking to make the operator easier to access “

However, the revaluation of assets The National Bank will issue a requirement Details are guidelines in order not to disadvantage the debtor, for example, if the transfer price is not expensive. To buy back, it must not be expensive.

Bank of Thailand – Treasury accelerates unlocking

The source said In principle, there should be no change. Which is expected to be offered Cabinet in late February or early March, but in the details of the practice On the part of the National Bank, various requirements have to be revised in order for the bank to operate. While the Ministry of Finance has to be unlocked. Except for tax matters such as tax on property transfer So as not to be a burden to the operator or the bank And support the success of the mechanism of this project This is similar in the case of tax exemptions for debt restructuring.

Savings reserve another ten billion

While a source from the Ministry of Finance told “Prachachart Business” expects to propose tourism measures for The Cabinet approved it after the government’s distrust debate was completed. Which is currently in the process of preparing details of the measures Because General Prayut Chan-o-cha, Prime Minister and Minister of Defense, has ordered the Ministry of Finance Instructed to act carefully And provide comprehensive assistance to the tourism sector

Because in the past, although there were various credit measures to take care of, but tourism operators still could not access all credit. Therefore want to fix the problem at this point as well

“One of the packages from this tourism measure will add liquidity to the tourism sector. By allowing state financial institutions such as the Government Savings Bank to issue lenient loans The government will be a subsidy for low interest, total amount of 10,000 million baht. Many operators are not yet accessible. Therefore will try to cover the operators as much as possible Currently, the Fiscal Policy Office (FPO) has approved the guidelines for issuing Government Savings Bank loans. In the process of proposing The cabinet will continue to approve “ The source said.


Source: ประชาชาติธุรกิจ by www.prachachat.net.

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