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Thai Asset Management Corp. Finalizes Restructuring Plan for Ceramics Firm.

Bangkok Post (Bangkok, Thailand)

| June 06, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Jun. 6--The Thai Asset Management Corp. has finalized a restructuring plan for Union Mosaic Industry by rescheduling its debt over a 10-year period.

Total debt owed by UMI, a ceramics company listed on the Stock Exchange of Thailand, was 1.46 billion baht in principal, with accrued interest of 253.2 million.

Some 90.46 percent of claims are held by the TAMC, with the rest by Tisco Finance, according to TAMC managing director Somjate Moosirilert, TAMC managing director.

Of the principal, 700 million baht backed by collateral will be repaid over 10 years at an annual rate of minimum lending rates minus one percentage point for the first three ...

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Source: HighBeam Research, Thai Asset Management Corp. Finalizes Restructuring Plan for Ceramics...

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