I explain the update on the LG as below after confirming with both SCB Malaysia and Thailand: -
1. SCB Thailand await the IRIS Corporate Guarantee as attached to be executed before they can issue LG. This Corporate Guarantee only can be signed now after Malaysian bank give approval on 18 July.
2. IRIS Corporate Guarantee just send to SCB Thailand for signature but need to courier back to SCB Malaysia to execute & stamp the document in Malaysia.
3. Thereafter, SCB Malaysia documentation team will give a clearance to SCB Thailand team to confirm this agreement is binding (acceptable in law) - SCB internal process to verify the document and applicable in Thai law.
4. Then, the Corporate Guarantee document original send to SCB Thailand team. SCB Thailand team will then issue the LG for PJT.
The whole process expected to complete by around 18 August 2014 because mainly the agreement execution + bank's internal process checking of the Corporate Guarantee + the delivery time of original document.