The Bank of Thailand said it would lift restrictions on same-company foreign currency loans and on fully hedged borrowings and funds raised from bond sales. Foreign loans with a maturity of less than 180 days used to pay for exports will also be exempt from capital controls. "The relaxation for some transactions will provide companies in Thailand more options in raising foreign loans for their business, not for speculation on the baht," said Suchart Sakkankosone, director of the exchange control department. "It makes sure that those loans and borrowings will not have an impact on the baht's volatility."
Bloomberg
Bloomberg

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AP
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Thailand risks losing some of its resort home market to Southeast Asian rivals Malaysia and the Philippines if it goes ahead with plans to close a loophole in the Foreign Business Act, according to regional analysts. The government has proposed changes to the law that allows non-Thais to hold property through a local company that they control because Thai nominee majority shareholders waive voting rights. "Thailand is seen as a desirable place for resort property, but Malaysia has, quite frankly, a better legal framework," said David Simister, chairman of property consultants CB Richard Ellis. Malaysia recently eased curbs on foreign ownership of residential property in an effort to cut red tape and spur economic growth. Meanwhile, Songkran Issara, managing director of developer Charn Issara, complains that the government, which has said it wants to promote high-end tourism, was sending out mixed signals. "I want the government to be clear on its policies about foreign investments in Thailand, whether we want to boost them or we don't want to," Issara said.
Reuters
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Asia Property Report
Bangkok Post
Reuters
TNA
Asia Property Report
Bangkok Post