Business Services Industry
Bangkok asks state-run bank to set up loan for TPI Polene.
Australasian Business Intelligence, August, 2003
Aug 19, 2003 (The Asian Wall Street Journal - ABIX via COMTEX)
Thailand's Finance Ministry has requested Krung Thai Bank to lend $US750 million to cement maker TPI Polene. The ministry made its request after the bank announced on 14 July 2003 that it decided not to provide financial support to the company until its parent, Thai Petrochemical Industry, restructures its debts. TPI Polene planned to use the loan to buy back $US1 billion in debt from creditors. Trading in TPI Polene shares has been suspended because the company's auditor failed to provide the exchange with the financial statements on the second quarter of the 2003-04 financial year.
Publication Date: 18 August 2003
THAILAND. MINISTRY OF FINANCE:
TPI POLENE PCL:
THAI...
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