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Thailand: Ch Karnchang sets aside full provisions for unpaid cost overrun in building Bang Na Expressway.
(From Thai Press Reports)
Section: Corporate News - Firm loses court bid for compensation, The Nation reports.
Section: Corporate News - Ch Karnchang's board of directors agreed to set aside full provisions of Bt2.5 billion for failing to receive compensation from the Expressway and Rapid Transit Authority of Thailand (ETA) for the increased cost of constructing the Bang Na Expressway.
The figure is its share of the Bt6.2 billion that Ch Karnchang and other partners of Joint Venture BBCD, the expressway contractor, had claimed from ETA.
The Supreme Court last week ruled that ETA was not obligated to pay the claim on grounds that the ETA …
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