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Natural Park needs to do more, say analysts.
Byline: Kanana Katharangsiporn
Feb. 2--Proceeds of 1.1 billion baht from the sale of Bangkok Metro shares might not be enough for the struggling property developer Natural Park Plc to meet its short-term debt obligations, according to analysts.
N-Park on Monday announced that it would sell a 10 percent stake in BMCL, the operator of the Bangkok subway, to the construction giant Ch.Karnchang Plc for 1.1 billion baht.
The deal would reduce N-Park's holding in the subway to 14.71 percent from 24.71 percent now, and give the company some leeway to service its debts.
But one analyst noted that N-Park had debt obligations totalling 6.5 ...
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Source: HighBeam Research, Natural Park needs to do more, say analysts.