AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Thai Tile Maker Signs 1.47 Billion Baht Deal with Creditors.
Byline: Busrin Treerapongpichit
Aug. 2--Union Mosaic Industry Plc (UMI) expects to return to profitability and earn about 100 million baht this year after reaching a debt-restructuring agreement worth 1.47 billion baht with its creditors.
The producer and distributor of mosaic tiles under UMI brand, and granite and ceramic floor and wall tiles under the Duragres and Lila brands signed the agreement yesterday with the Thai Asset Management Corporation (TAMC) and Tisco Finance Plc.
TAMC president Somjate Moosirilert said the agreement would require UMI to provide 200 million baht in cash and 160 million baht in convertible unsecured debentures with a five-year maturity to the two creditors within 90 days after the contract signing.
In exchange, UMI will receive a 27 percent discount on loan principal and an extended payment period to 10 years for the remaining 700 million baht.
Prasert Uekamolsukho, a TAMC vice-president, said that reducing the principal by 27 percent would allow UMI to meet its debt-service obligations.
He said the planned debentures would be convertible to capital-increase shares at par value. Once the company was performing well, creditors could benefit further from the conversion, he said.
- Thailand's Natural Rubber Committee has agreed in principle to approve a fund...
- Newspaper article from: Xinhua English Newswire February 16, 1996 700+ words
short-term loans to help exporters with cash flow between the time of shipment and payment. Deputy Agriculture Minister Charnchai Pathumarat said that proper warehouses are needed to store rubber when its prices are low. He added that having somewhere to keep their inventory would give farmers more
- Bangkok Post, Thailand, Business Briefs Column.
- Newspaper article from: Knight Ridder/Tribune Business News November 16, 2002 700+ words
...months was 83.66 million baht, compared with 71...which publishes the Bangkok Post, attributed the 16...interim dividend of 1.40 baht per share for the nine...auctioned one billion baht worth of six-year bonds...To see more of the Bangkok Post, or to subscribe to...
- Bangkok Post, Thailand, business briefs column.(Financial report)(Column)
- Newspaper article from: Bangkok Post (Bangkok, Thailand) August 11, 2007 700+ words
...the publisher of the Bangkok Post and Post Today daily...profits of 8.733 million baht (0.02 baht per share...1,228.3 billion baht, compared with -1...money was 803.7 billion baht, compared with 809...To see more of the Bangkok Post, or to subscribe to...
- Bangkok Post, Thailand, business briefs column.(Column)
- Newspaper article from: Bangkok Post (Bangkok, Thailand) May 14, 2007 700+ words
...trade worth 543,000 baht. POST PROFIT DOWN 39...the publisher of the Bangkok Post and Post Today, reported...profits of 12.19 million baht, down 39 percent from...money was 829.8 billion baht, compared with 820...To see more of the Bangkok Post, or to subscribe to...
- Bangkok Post, Thailand, business briefs column.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) November 11, 2006 700+ words
...the publisher of the Bangkok Post and Post Today newspapers...profits of 23.9 million baht, a decline of 11.57...were -663.6 billion baht, compared with -681...money was 787.9 billion baht, compared with 777...To see more of the Bangkok Post, or to subscribe to...
- Bangkok Post, Thailand, Business Notes Column.
- Newspaper article from: Knight Ridder/Tribune Business News March 2, 2004 700+ words
...at an offering price of two baht per share. Seamico Securities...yesterday auctioned one billion baht worth of 28-day treasury bills...Also sold were three billion baht in 92-day bills for a weighted...72 times. To see more of the Bangkok Post, or to subscribe to the newspaper...
- [0] Bangkok Post, Thailand, Business Briefs Column.
- Newspaper article from: Knight Ridder/Tribune Business News August 24, 2001 700+ words
...government were 130.3 billion baht, compared with 136.2 billion...institutions were 35.4 billion baht, compared with 33.2 billion...Reserve money was 484.6 billion baht, down from 488.8 billion the week before. To see more of the Bangkok Post, or to subscribe to the newspaper...
- Bangkok Post, Thailand, business briefs bonus column.
- Newspaper article from: Knight Ridder/Tribune Business News October 19, 2004 700+ words
Bangkok Post, Thailand Knight Ridder...of 15.36 billion baht, a rise of 67 percent...auctioned six billion baht in 182-day bills...yesterday at 99.50 baht, down 50 satang. To see more of the Bangkok Post, or to subscribe to...