Bangkok--10 Aug--KASIKORNBANK
KASIKORNBANK has become the first bank in Thailand to establish a Chinese-Thai business center, joining with leading Chinese banks and specialized organizations to support trade and investments between the two nations with in-depth information, advice and financial services.
KASIKORNBANK CEO and President Mr. Banthoon Lamsam said it has been KBank’s policy to consistently support Sino-Thai business. The Bank has opened the Chinese - Thai Business Center, KASIKORNBANK on the 16th floor of Chamchuri Square, which will become Thailand’s first complete Chinese-Thai business center of a commercial bank. The center provides advice in business undertakings and investment for Thai investors who wish to invest in China, as well as Chinese investors who aim to do business in Thailand.
Additionally, the center will act as a business gateway for business operators and the Bank’s allies, and will provide financial advisory as well as business matching services. The business center’s services comprise three main types, as follows:
Necessary information will be offered by well-trained specialists to help enhance investors’ operations, e.g., fundamental data of Thailand and China, including their respective societies, geographies, and economies; news reports; Sino-Thai investment procedures and regulations; and work permit application procedures. Investors can also study these matters on their own from relevant books or seminars or workshops provided by the center.
Advisory service on business planning, regulations regarding Sino-Thai business establishment regulations and operations will be offered. KBank, in cooperation with specialists of four key areas, will give advice that addresses investors’ concerns, namely laws and investment, accounting and taxation, land rental and purchase for establishing a company, and general advice on Sino-Thai matters from academics and experts from leading organizations.
Financial services, including a business matching service, will be provided for investors in Thailand and China. Apart from the more than 800 KBank branches in Thailand, services will also be provided via KBank’s branch in Shenzhen and network in China of allied leading Chinese bank branches, in order to enhance flexibility of investment transactions between the two countries.
At the Chinese-Thai Business Center, KASIKORNBANK, the Bank’s officials, both Thai and Chinese, are ready to serve customers with their good understanding of both countries’ cultures. They are fluent in both the Thai and Chinese languages, in order to provide convenience for investors of both nations. Interested business operators and investors are invited to visit the Chinese-Thai Business Center, KASIKORNBANK on the 16th floor of Chamchuri Square, or call the K-Biz Contact Center at 0 2888 8822 on business days, Monday to Friday from 9 a.m. to 5 p.m., except bank holidays.
Mr. Banthoon added that KBank has consistently supported Sino-Thai trade via multiple financial services, including one-day U.S. dollar transfers to China, and diverse and complete RMB transactions, e.g., foreign exchange risk hedging tools, import L/C issuance, export L/C advising, export collection and import payment, global outward and inward, and trust receipt. Additionally, KBank’s more than 60 International Trade Service Offices are available nationwide for investors. The introduction of the Chinese-Thai Business Center, KASIKORNBANK will support business operators and investors with greater thoroughness and efficiency.
Kasikorn Research Center reported that Thailand’s exports to China in the first half of 2011 increased 23.8 percent over-year, a higher-than-expected growth. Thailand’s export value to China in June 2011 alone reached USD2,214.6 Million, close to the record high figure of USD2,344.8 Million in March 2011, largely driven by agriculture products and agro industry.