Post by Fletchsmile on Sept 22, 2015 10:38:42 GMT 7
I wonder if Thai language forums like englishvisa.com will be full of threads reciting the mantra: "Don't invest in the UK more than you're prepared to walk away from..." 
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SSI creditors baulk at pay plan
Three major creditors of Sahaviriya Steel Industries Plc (SSI), Thailand's largest maker of hot-rolled coil, are likely to reject a request to reschedule a 28-billion-baht debt repayment due on Sept 30, narrowing its chances to keep from being delisted from the Stock Exchange of Thailand.
SSI has suffered hefty losses driven by the poor performance of British subsidiary SSI UK Ltd, which operates a plant the group acquired in 2011.
The Thai steel maker posted consolidated net losses of 3.24 billion baht for the second quarter and 6.26 billion baht for the first half, with negative shareholders' equity of 1.78 billion.
The negative shareholders' equity poses the risk of SSI moving to the non-performing group. If the equity remains in the red through the end of the year, it will necessitate a rehabilitation plan.
SSI has temporarily ceased operations at its loss-making steel plant in England, and selling the facility is one option to turn around the ailing steel maker, SSI president Win Viriyaprapaikit said.
Analysts previously said SSI had no hope to survive despite healthy Thai operations, given the dire situation of its English subsidiary.
contd.
www.bangkokpost.com/business/news/701340/ssi-creditors-baulk-at-pay-plan
=====================================================
SSI creditors baulk at pay plan
Three major creditors of Sahaviriya Steel Industries Plc (SSI), Thailand's largest maker of hot-rolled coil, are likely to reject a request to reschedule a 28-billion-baht debt repayment due on Sept 30, narrowing its chances to keep from being delisted from the Stock Exchange of Thailand.
SSI has suffered hefty losses driven by the poor performance of British subsidiary SSI UK Ltd, which operates a plant the group acquired in 2011.
The Thai steel maker posted consolidated net losses of 3.24 billion baht for the second quarter and 6.26 billion baht for the first half, with negative shareholders' equity of 1.78 billion.
The negative shareholders' equity poses the risk of SSI moving to the non-performing group. If the equity remains in the red through the end of the year, it will necessitate a rehabilitation plan.
SSI has temporarily ceased operations at its loss-making steel plant in England, and selling the facility is one option to turn around the ailing steel maker, SSI president Win Viriyaprapaikit said.
Analysts previously said SSI had no hope to survive despite healthy Thai operations, given the dire situation of its English subsidiary.
contd.
www.bangkokpost.com/business/news/701340/ssi-creditors-baulk-at-pay-plan
