thegreglowe.com

by Greg Lowe

Thailand´s property market will see little direct impact from the Lehman Brothers sell-off and corresponding US financial crisis, according to local analysts, but secondary knock-on effects may crimp sales, particularly at the top end.

Lehman Brothers Holdings, one of America´s oldest investment banks, went bankrupt last September, with assets worth US$613 billion (21,144 billion baht). A local subsidiary Lehman Brothers Holdings (Thailand) had Bt50 billion of assets, about 80 percent of which was in property – including investments in local developers Raimon Land, Grande Asset and Ascon Trading. more…