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World Trade Tower Operator Says Bank Data Is Wrong.
Byline: Parista Yuthamanop
Nov. 9--Wang Petchaboon Co, the operator of the World Trade Tower, says incorrect information released by its creditor has hurt its plans to finish building new office and exhibition space.
Adul Thangsattayaapirom, the firm's legal director, said Siam Commercial Bank had falsely claimed that there had never been out-of-court discussions to restructure the developer's debt.
Mr Adul said SCB itself had noted in a meeting report in September that it needed 10 days to study one debt restructuring proposal.
He also rebutted bank claims that the firm had defaulted on rent to the Crown Property Bureau (CPB).
"We have been submitting cheques to the company every month for rent but it keeps sending them back," Mr Adul said. "The bank's claim has damaged confidence of our banks, one of which had planned to lend some 10 billion baht to us under a memorandum of understanding."
Mr Adul said Wang Petchaboon had been paying the CPB five million baht a month under a 50-year lease contract.
- Thai Developer Seals Deal for 30-Year Lease at World Trade Centre.
- Newspaper article from: Knight Ridder/Tribune Business News December 24, 2002 700+ words
...Property Bureau for the World Trade Centre property. The...court settlement with Wang Petchaboon Co, the former lessee of the World Trade Centre. The Bureau agreed...baht lawsuit against Wang Petchaboon. In return, the company...
- World Trade Tower Operator Says Bank Data Is Wrong.
- Newspaper article from: Knight Ridder/Tribune Business News November 9, 2001 700+ words
...News Nov. 9--Wang Petchaboon Co, the operator of the World Trade Tower, says incorrect...charges against World Trade Tower over a 900...subsidiary of Wang Petchaboon, is overseeing...adjacent to the giant World Trade Centre shopping...
- Thai Developer Threatens to Drop Bangkok World Trade Center Project.
- Newspaper article from: Knight Ridder/Tribune Business News November 27, 2002 700+ words
...all 300 tenants at the World Trade Centre that about 80 percent...the outgoing operator, Wang Petchaboon. But the CPN executive...not to pay their debts to Wang Petchaboon with an excuse that the World Trade Centre had not done enough...
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- Newspaper article from: Bangkok Post (Bangkok, Thailand) (via Knight-Ridder/Tribune Business News) January 23, 2002 700+ words
...acquire more than 50 percent of World Trade Centre Bangkok over the next two weeks. Wang Petchaboon Co, operator of the World Trade Centre, will relinquish a good...according to industry sources. The World Trade Centre is one of the three retail...
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- Newspaper article from: Bangkok Post (Bangkok, Thailand) (via Knight-Ridder/Tribune Business News) October 23, 2002 700+ words
...complete the purchase of the World Trade Centre at the Ratchaprasong...Mr Naris said of the World Trade Centre purchase. As well...has been negotiating with Wang Petchaboon Co to manage the World Trade Centre. CPN may sub-lease...
- Thai Firm Eyes World Trade Center Site for New Department Store.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) (via Knight-Ridder/Tribune Business News) October 22, 2002 700+ words
...opening a new store at the World Trade Centre. Central Pattana...that it would take over Wang Petchaboon, the current developer of the World Trade Centre, by the end of...department store at the World Trade Centre. However, Surangrat...
- Thai Developer Told to Repay Debt to Bangkok Metropolitan Bank.
- Newspaper article from: Knight Ridder/Tribune Business News August 21, 2001 700+ words
...Metropolitan Bank. Wang Petchaboon, a holding...operate the World Trade Centre, is...suit against World Trade Tower Co, a Wang Petchaboon subsidiary...contract for the World Trade complex to Wang Petchaboon. The bureau...
- Office Tower Construction in Thailand May Go Ahead Soon.
- Newspaper article from: Knight Ridder/Tribune Business News August 23, 2001 700+ words
...23--Wang Petchaboon Co, the operator of the World Trade Centre...41st floor. Wang Petchaboon and its subsidiary World Trade Tower have...build the World Trade Centre in...suit against Wang Petchaboon seeking compensation...