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CP scion prepares for bad debt bonanza 12 published : 6 Jul 2021 at 10:22 Schwin Chiaravanont (Photo supplied) Just three months after the government threw a 350 billion baht lifeline to businesses struggling to survive the pandemic, a scion of Thailand’s wealthiest business dynasty is betting the bailout won’t be enough to stanch a deluge of distressed assets. Schwin Chiaravanont  whose family controls the 100-year-old Charoen Pokphand Group is planning to raise $500 million for his flagship private-equity venture 9 Basil, which aims to use most of the new money to step up purchases of distressed assets. The fund is positioning itself to benefit from bad loans soaring from a 16-year high as the Thai economy battles its worst recession since the Asian crisis of the late 1990s.

Krung thep mahanakhonRathanon fookiatBunyong visatemongkolchaiSchwin chiaravanontCp groupFitch ratingsCharoen pokphand groupNgern tid lor plcCp group coUniversity of north carolina at chapel hillBangkok commercial asset management plcAlpha capital asset management coFederation of thaiCharoen pokphandCo vice chairman wallop chiaravanontBangkok commercial asset management