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Thailand Steel Firm to Cut Loss by Reducing Capital.
Byline: Yuthana Praiwan
Aug. 1--Sahaviriya Steel Industries Plc (SSI) will reduce its capital in an attempt to cut its accumulated loss.
The management would soon ask the board and shareholders to approve the capital reduction, said company president Sittichai Thiensathaporn.
"We cannot deal with the accumulated loss of 8.28 billion baht unless we reduce capital in the interests of the shareholders who will still have a small return through a dividend payment," he said.
The company, registered with 8.53 billion baht in capital in 1994, makes hot-rolled steel sheets. Losses accumulated from the outset, with the company blaming cheaper ...
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