GE Capital to boost jobs

GE Capital to boost jobs

BANGKOK (AFP): The Thai finance arm of General Electric said Tuesday it would hire over 300 more people in Thailand as a result of its successful bid for auctioned loans.

GE Capital (Thailand) and Goldman Sachs (Asia) jointly agreed to take four tranches of loan assets stripped from closed finance firms and sold by the Financial Sector Restructuring Authority last week.

The president of GE Capital's Thai operation said the move would raise the firm's total employment here to more than 2,200.

Goldman Sachs and GE Capital reportedly paid a total of 23.6 billion baht (US$656 million) for loan assets in the joint bid.