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Thai Petrochemical Industry Asks Creditors to Reduce Interest Rates.
Byline: Wichit Chantanusornsiri
Oct. 4--Planners of Thai Petrochemical Industry have petitioned local and foreign creditors to reduce interest rates.
Gen. Mongkol Ampornpisit, chairman of the TPI planning team, said that without an interest reduction, the company would be unable to meet debt payments.
"But if the creditors can agree, then we will be able to move forward and repay the debt," he said yesterday following a meeting with Finance Minister Suchart Jaovisidha.
TPI currently pays Thai creditors interest equal to two percentage points over minimum lending rates. The petrochemical company is seeking to cut rates to one point ...
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