The Islamic Bank of Thailand’s managing director admitted bank clients could experience more inconveniences in making international financial transactions after Thailand has been put on the watch list for money-laundering and terrorism financing. The bank also plans to adjust its business strategy this year after it has been slapped with the 0.47 percent premium contribution to the national development fund.
Managing Director of Islamic Bank of Thailand Teerasak Suwanyos played down the impact on overseas investments of the bank’s clients after Thailand’s name appeared on the money laundering and terrorism financing watch list.
Hot on the heels of the triple bomb blasts in Bangkok last week, Thailand was identified by intergovernmental organization, Financial Action Task Force, as uncooperative in the global efforts to combat money laundering and terrorism financing.
Islamic Bank MD said the bank has ten clients who invest heavily overseas with a combined investment value of hundreds of millions of baht. Teerasak noted that the bank will be more rigorous in checking documents and transactions to prevent any possibility of being linked with any money laundering or terrorism activities.
Teerasak also commented on the new 0.47 percent premium that was slapped on all banks by the Finance Ministry and the central bank. The banker said the premium, slated to go towards the National Development Fund, will cost the bank 500 million baht in operating revenue. That’s almost 50 percent of the net profit calculated from its current deposit base of 117 billion baht.
He said the bank may have to revise its strategic business plan for this year to take into consideration the new premium.
The Islamic Bank has set a loan target of 20 billion baht for this year, including six billion baht for SMEs, ten billion baht for retail borrowers and four billion baht for major clients.
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2012年1月2日星期一
KL property investment ranking slips in new survey
By Yow Hong Chieh KUALA LUMPUR, Dec 7 — Kuala Lumpur’s property outlook will continue to slide in 2012 while Singapore remains the most attractive Asia Pacific city for real estate investors, according to an Urban Land Institute (ULI) report.
Kuala Lumpur’s investment prospects slipped one spot to 16th out of 21 Asian cities tracked going into next year while development prospects dropped three places, also to 16th, the “Emerging Trends in Real Estate Asia Pacific 2012” outlook released yesterday said.
Singapore topped the list despite a less positive environment and falling yields this year, and was the only city besides Shanghai considered to have “generally good” development prospects.
Buying sentiment was stronger in Kuala Lumpur for retail and industrial property than in Singapore while the reverse was true for office, apartment and hotel property.
The largest group of experts polled for the report recommended a hold on all property sectors in Kuala Lumpur next year, while a “sizable minority” backed acquisitions in all areas.
“Construction financing (for Kuala Lumpur) might remain more limited as global economic concerned continue to linger,” the report added.
“However, government plans are in place to improve infrastructure over the coming years — always a boost for commercial real estate.”
It also said that despite recent declines investors still saw Malaysia’s capital as “an emerging city of interest”, noting that properties in the city were valued at one-fifth that of comparable properties in Singapore.
Investors also predicted bullish growth in Malaysia, with the report predicting that national GDP growth would remain at five per cent or above through to 2015.
The report was compiled by Washington-based ULI with PricewaterhouseCoopers International from interviews with 360 property experts, including investors, developers, asset managers, fund managers, brokers and architects.
Only three cities — Bangkok, Manila and Osaka — saw their investment ratings rise this year while Taipei, Bangkok, Sydney and Jakarta achieved the largest gains in investment rank.
Chinese cities dominated the investment prospect rankings, with Shanghai, Chongqing and Beijing placing second, fourth and fifth respectively; Guangzhou was the lowest ranked Chinese city at sixth spot.
Kuala Lumpur’s investment prospects slipped one spot to 16th out of 21 Asian cities tracked going into next year while development prospects dropped three places, also to 16th, the “Emerging Trends in Real Estate Asia Pacific 2012” outlook released yesterday said.
Singapore topped the list despite a less positive environment and falling yields this year, and was the only city besides Shanghai considered to have “generally good” development prospects.
Buying sentiment was stronger in Kuala Lumpur for retail and industrial property than in Singapore while the reverse was true for office, apartment and hotel property.
The largest group of experts polled for the report recommended a hold on all property sectors in Kuala Lumpur next year, while a “sizable minority” backed acquisitions in all areas.
“Construction financing (for Kuala Lumpur) might remain more limited as global economic concerned continue to linger,” the report added.
“However, government plans are in place to improve infrastructure over the coming years — always a boost for commercial real estate.”
It also said that despite recent declines investors still saw Malaysia’s capital as “an emerging city of interest”, noting that properties in the city were valued at one-fifth that of comparable properties in Singapore.
Investors also predicted bullish growth in Malaysia, with the report predicting that national GDP growth would remain at five per cent or above through to 2015.
The report was compiled by Washington-based ULI with PricewaterhouseCoopers International from interviews with 360 property experts, including investors, developers, asset managers, fund managers, brokers and architects.
Only three cities — Bangkok, Manila and Osaka — saw their investment ratings rise this year while Taipei, Bangkok, Sydney and Jakarta achieved the largest gains in investment rank.
Chinese cities dominated the investment prospect rankings, with Shanghai, Chongqing and Beijing placing second, fourth and fifth respectively; Guangzhou was the lowest ranked Chinese city at sixth spot.
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