กรุงเทพฯ--3 พ.ย.--EXIM Thailand
EXIM Thailand urges Thai exporters to utilize “Export Credit Insurance” to protect their business against non-payment risks from overseas buyers after making claim payment of approximately 74 million baht in October 2006 to three exporters whose regular and key buyers in the main markets remained in default of payment.
Dr. Apichai Boontherawara, President of Export-Import Bank of Thailand (EXIM Thailand), said that buyers’ repudiation of goods sold occurred mostly in the traditional markets and developed countries. As a result of long-standing relationship with major trade counterparts, many Thai exporters have increased their trade transactions and offered more flexible payment terms to their customers. In the first 10 months of 2006, claim payment totaling 84.5 million baht has been made by EXIM Thailand to compensate Thai exporters for loss arising from non-payment by 10 overseas buyers in the European and US markets.
In October 2006, the Bank compensated three exporters in the overall claim amount of 74 million baht. Of this total, 57.61 million baht was paid to Sawang Export Public Company Limited, manufacturer and exporter of jewelry and ornaments; 15.59 million baht to Songkla Canning Public Company Limited, frozen processed seafood manufacturer and exporter; and another 0.79 million baht to Sriwatana Wooding Industries Company Limited, wooden picture frame manufacturer and exporter. All three cases were caused by recent liquidity shortage of the exporters’ regular clients in the US market.
EXIM Thailand President added that Thai exporters should prepare well-defined business operation and management plans and work in partnership with Thai financial institutions with worldwide correspondent network to obtain reliable information and analysis on creditworthiness of their buyers before making decision on trade and payment terms. The financial institution should also offer efficient debt monitoring and collection facilities. In this regard, EXIM Thailand’s Export Credit Insurance and Buyer/Buyer Bank Risk Assessment Services are available to help boost the confidence of exporters, particularly SMEs, in penetrating or expanding export markets by providing protection against non-payment risk for political or commercial reasons.
Photos captions:
1. Dr. Apichai Boontherawara (third left), President of Export-Import Bank of Thailand (EXIM Thailand), presented a claim payment cheque for 57.61 million baht to Mr. Morakot Maneepairoj (third right), President of Sawang Export Public Company Limited and Mr. Paetai Maneepairoj (second right), Managing Director of Sawang Export Public Company Limited, manufacturer and exporter of jewelry and ornaments, to compensate for the company’s loss arising from non-payment by an overseas buyer at EXIM Thailand Head Office on October 3, 2006.
2. Dr. Apichai Boontherawara (second left), President of Export-Import Bank of Thailand (EXIM Thailand), presented a claim payment cheque for 15.59 million baht to Mrs. Attapan Masrungson (middle), Managing Director of Songkla Canning Public Company Limited, frozen processed seafood manufacturer and exporter, to compensate for the company’s loss arising from non-payment by an overseas buyer at EXIM Thailand Head Office on October 3, 2006.
3. Mrs. Worawara Boonnag (second right), Assistant Vice President of Export Credit Insurance Department, Export-Import Bank of Thailand (EXIM Thailand), presented a claim payment cheque for 0.79 million baht to Mrs. Paraporn Choochaisri (second left), Managing Director of Sriwatana Wooding Industries Company Limited, wooden picture frame manufacturer and exporter, to compensate for the company’s loss arising from non-payment by an overseas buyer at EXIM Thailand Head Office on October 3, 2006.
For further information, please contact Public Relations Division, Office of Top Management
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1140-6
สามารถคลิกดูภาพประกอบได้ที่ www.thaipr.net