Date – March 15, 2010

State Enterprise Policy Office (SEPO)’s Director-General Supa Piyajitti disclosed to the plan for clearing accumulated losses of TMB Bank Plc, which hasn’t yet been concluded, that it is under the consideration of SEPO’s officials. 

The source from the Ministry of Finance said to the problem of the plan that there is a main issue: how to reduce par of TMB’s shares. Both the ministry and ING Group have disagreed in this topic because the ministry disagrees to reduce the price of par to be lower one Baht, while ING wants to cut par to clear all of accumulated losses of 100 billion Baht at one time, so it needs to be lowered to one Baht.

However, the plan is under the consideration because TMB’s shareholders will have a meeting by this April and the topic will get a conclusion on time in order to present in the meeting for sure. As for selling plan of shares that the Ministry holds, it is awaiting for clearer and certain policy from the Ministry of Finance that what the ministry wants to do next after clearing all of TMB’s losses.