KBank’s Lao unit helps finance Bangkok Chain group for construction of hospital in Vientiane
As part of its continual support for investment in Laos, Kasikornthai Bank Ltd, Lao PDR, has offered a financial facility to Bangkok Chain Hospital (BCH), a listed Thai company, for the construction of the 254-bed Kasemrad International Hospital Vientiane, which is scheduled to be operational in 2021.
Pattanapong Tansomboon, chairman of the Lao unit of Kasikornbank (KBank), said the Thai bank aimed to be a driving force for Asean economic growth, especially in Laos, which has seen rapid growth and thriving industrial sectors, as evidenced by rising purchasing power of Laotians who are seeking quality goods and services.
Healthcare business is one of the industries under the Lao government’s support as it aims to promote greater access to quality medical services on a par with international standards, in line with the country’s economic expansion, he said.
KBank Lao PDR realises that healthcare business, and chiefly hospitals, is an essential area in which Laos needs to improve its people’s quality of life, he added.
Therefore, Pattanapong explained, KBank Lao PDR is providing financial support to Bangkok Chain International (Lao) Co Ltd, under the BCH group which is a long-time business partner of KBank, for the construction of Kasemrad International Vientiane Hospital to provide medical services meeting international standards.
BCH currently operates leading private hospitals under four groups: World Medical Hospital, Kasemrad International Hospital, Kasemrad Hospital and Karunvej Hospital.
BCH has expanded its medical-service network to the Asean region in accordance with its target.
KBank is confident in the potential, experience and professionalism of the management and staff of BCH, and hopes that this overseas business expansion succeeds, the bank chairman said.
The business collaboration is also in line with KBank’s strategy of participating in the economic development of countries in Asean.
KBank Lao PDR has succeeded in expanding its SME business customer base, which is an area of KBank expertise.
Additionally, KBank manages to reach out to big business groups in Laos in both the public and private sectors, especially foreign investors from Japan, South Korea and, more importantly, Thailand, which are business partners of KBank, Pattanapong said.
Dr Chalerm Harnphanich, chairman of BCH and chief executive officer of Bangkok Chain International (Lao), said the construction of Kasemrad International Hospital Vientiane required an investment of around US$50 million (Bt1.56 billion).
The company is committed to offering advanced medical services under the Kasemrad International Hospital brand to ensure that general patients, both local consumers and foreign nationals working and travelling in Laos, receive quality medical services on a par with international standards, he added.
Bangkok Chain International (Lao) is a joint venture between BCH and a company in Lao PDR under the supervision of the country’s Health Ministry.
Kasemrad International Hospital Vientiane will have 254 beds and 38 examination rooms.