Cash is king in Thailand

International banks are set to benefit as cash-rich Thai companies look to expand operations overseas, but the continued dominance of paper-based transactions proves a challenge.

Cash-rich companies in Thailand are taking advantage of currency liquidity to expand operations overseas and acquire cheap assets. The Thai baht is not internationally traded, while many of ThailandÆs products and services do travel overseas. This, experts say, is one of the drivers for local banks to expand offshore operations.

International banks are benefitting as many domestic Thai companies do not have global cash management operations in place to facilitate their expansion. The credit crunch is also encouraging Thai companies...

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