Most TPI lenders agree to major parts of debt proposal

Article Abstract:

A $3.2 billion debt-restructuring plan for Thai Petrochemical Industry PCL (TPI) is almost fully approved by the firm's lenders which would allow TPI to avoid bankruptcy. The only issue that remains to be settled is how creditors might call TPI into default in the future. The plan calls for the company to repay part of its debt by raising $700 million over the next five years through the sale of new shares. In addition, creditors will be allowed by TPI to get a 30% stake in the firm. In return, interest payments of TPI amounting to $400 million will be converted.

Petrochemical Manufacturing, Cyclic crudes and intermediates, Petrochemicals, Economic aspects, Finance, External debt relief, Debt relief, Petroleum chemicals industry, Petrochemicals industry, Thai Petrochemical Industry Company Ltd.

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Cambodian club a real blast

Article Abstract:

The Marksmen Club, the only privately-owned firing range in Cambodia, features a T-54 tank, M-42 antiaircraft tank, and a Russian-made Mig-21 jet fighter is set to be delivered. The country's present political situation has jeopardized tourism and made it difficult for the co-owner of the club, Victor Chao, to purchase ammunition. In a bid to remove protests against the club, the Marksmen Club has vowed to give the government some undetermined profits and employ 250 Cambodians.

All Other Amusement and Recreation Industries, Misc Outdoor Recreation, Management, Cambodia, Outdoor recreation, Bombing and gunnery ranges, Bombing and artillery ranges

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