[Lending Arrangement] Yoshimura 1
[Lending Arrangement] Yoshimura 1
Posts
Showing posts from June, 1998
[THE NEW MYANMAR TIMES] JUST STOPPED OIL!!!
- Get link
- X
- Other Apps
Throughout heaven and earth, Myamnar's greatest strength and weakness has been its major export — OIL. The Burmese Student Warriors, recognising the environmental impacts of sustained oil drilling on their beloved Sumatran Rhinosaurus have recognised this time of chaos as the perfect opportunity for enacting their plans of demolition on Myanmar's largest oil refinery... and they have succeeded. It just so happens that the Central Bank of Myanmar had loaned USD 1 Billion to this very company that got struck. With the oil refinery on the brink of bankruptcy, default on the loan is widely expected. Investors on Wall Street see this issue as a potential chance of a bank run running across the entire nation, with the stock market seeing repercussions echoing across all sectors — not just oil. With the stock market dropping by 5,8% within 1 day and the exchange rate for the Kyat falling by 4%, severe issues plague once the protected nation of Myanmar in this time of crisis. ...
[Bernama] The collapse of the Malaysian Banking Sector
- Get link
- X
- Other Apps
Malaysian banks crash and burn as the IMF watches on, issues of NPLs set to be addressed? As the Asian Financial Crisis continues its rapid spread of contagion across the region, Malaysia's banking sector is showing signs of distress. The value of the ringgit has plummeted by over 20 percent since July 1997, and the Kuala Lumpur Stock Exchange (KLSE) index has fallen by over 13%. Billions in market capitalisation have been wiped out, while simultaneously eroding public confidence, resulting in nationwide protests. A potential reason for this collapse, perhaps, lies in the staggering rise of non-performing loans (NPLs). NPL ratios have skyrocketed from 2.97 percent in June 1997 to 18.23 percent in June 1998, with some estimates suggesting higher figures. As bankruptcy rises and retrenchment rates mount, banks nationwide are facing a sharp drop in borrowing and tight liquidity conditions, making it almost impossible to finance anything. While the government did attempt to defend the...