Briefs

Canada’s Bank of Nova Scotia has approached a unit of Bank of China, Fubon Financial Holdings, Maybank and Japanese lenders to gauge interest for its US$1.7-billion (Bt61 billion) stake in Thai lender Thanachart, people familiar with the matter said.

Scotiabank, as Bank of Nova Scotia is known, has hired Morgan Stanley as adviser for the sale of its 49-per-cent stake in Thanachart, which has been approaching the prospective bidders, they said.

First-round bids for the sale are expected next quarter, one of the sources said.

"No final decision has been made with respect to this investment and no further update is available beyond what was announced in December," Scotiabank spokesman Marcelo Gomez-Wiuckstern said. Thanachart Bank declined to comment.

Bank of China’s unit BOC HK is showing interest in the stake, one of the sources said.

Scotiabank’s adviser has approached Japanese lenders Mizuho Financial Group and Sumitomo Mitsui Banking Corp, a unit of Sumitomo Mitsui Financial Group, the sources said. The sources declined to be identified because the talks are not public. – Reuters

Krungsri Consumer woos young cardholders

Krungsri Consumer, a subsidiary of Krungsri Group, is attempting to acquire young consumers through its new Krungsri JCB Platinum Card.

Krungsri is the market leader with 3.8 million cardholders, but most of them are middle-aged.

Thakorn Piyapan, head of Krungsri Consumer Group, said yesterday that the company targeted 100,000 Krungsri JCB Platinum cardholders this year, of whom 70 per cent would be new to the bank as young consumers.

Ichiro Hamakawa, president and CEO of JCB Co and vice chairman of JCB International, said the partnership with Krungsri was a remarkable step forward for JCBI in increasing its presence in this market.

JCBI wants to expand its cards to Asia, and Thailand is one potential market for the firm, he said.

Phase 2 of credit guarantee scheme approved

The Thai Credit Guarantee Corporation will launch the second phase of its guarantee scheme for micro-entrepreneurs to help them access capital after the first phase ended last year.

Phase 2, which gained the Cabinet’s approval yesterday, will provide up to Bt13.5 billion in guarantees.

Under additional conditions, micro entrepreneurs applying for this scheme cannot have fixed assets excluding land of Bt5 million or more.

The guarantee is up to Bt200,000 per micro-entrepreneur for 10 years.

The new phase runs to next year.

 Thailand plans 10 ‘trade villages’ this year

Peninsula wins two 5-star awards

Peninsula has scored two new five-star hotel awards, one in Bangkok, according to Forbes Travel Guide’s 2016 Star Rating Awards.

Across the globe, 154 hotels achieved the coveted five-star award, with Forbes Travel Guide now rating in 29 countries and more than 100 of the world’s top destinations.