Business Services Industry
National Housing Authority to Ease Financial Burden in Thailand.
Knight Ridder/Tribune Business News, August, 2003
By Krissana Parnsoonthorn, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Aug. 6--The National Housing Authority (NHA) plans to reduce its hefty financial burden by converting some 4.07 billion baht in outstanding debt instruments into e...uity by the end of the year.
The proposal is subject to approval by the National Economic and Social Development Board and the cabinet.
"We expect to see our paid-up capital raise to five billion baht from one billion baht at the present and this will make us more flexible to invest in new projects in the near future," one senior NHA director said.
After the debt conversion, the state-run agency is expected to have its outstanding debts reduced to 20 billion baht, of which most...
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