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M-Link stops bidding for government deals.
Byline: Srisamorn Phoosuphanusorn
Mar. 1--M-Link Asia Corporation, a handset distributor led by two sisters of Prime Minister Thaksin Shinawatra, said yesterday that it would give up bidding for government contracts this year since they tend to lead to losses and debts.
The company, however, denied the deepening political crisis faced by the premier was a factor behind the decision.
"The move reflects our higher interest costs and debts. We had to borrow money from financial institutions to fund the winning bids, resulting in soaring debts," said president Anusorn Amornchat.
"As well, government projects require high investments and ...
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Source: HighBeam Research, M-Link stops bidding for government deals.