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Eastern Wire told to clarify B500m loans.
Mar. 3--The Stock Exchange of Thailand has directed Eastern Wire Plc (EWC) to clarify 500 million baht in loans provided to a listed factoring company.
The SET noted that EWC's auditors had flagged a 500-million-baht promissory note issued by a factoring company in December 2005.
The company's auditors noted that the transaction structure had also been used by EWC in the first quarter of 2005 to provide 328.7 million baht in loans to JJ Land Development, which were repaid in September of last year.
At EWC's board meeting on Dec 15, one director opposed the promissory note transaction because it was high risk. On Dec 22 directors agreed to have ...
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...general public 75.8 percent. EWC said yesterday that the change...previously held by the family. EWC yesterday reported that it had...million due on Sept 21. Shares of EWC on the SET yesterday closed...million baht. To see more of the Bangkok Post, or to subscribe to the newspaper...
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...found among investor lists of EWC, he said, but added that...identified to have been involved in EWC trades clearly "fancied risky investments." EWC earlier this week was cleared...disclosure. To see more of the Bangkok Post, or to subscribe to the newspaper...