Thai firm finds novel cash-crunch cure

Article Abstract:

Wongpaitoon Group PLC has added some $100 million to its future funds by forging a securitization deal with Daiwa Securities America Inc. According to the terms of the deal, Wongpaitoon would repay its debt to Daiwa in five years time through its future export earnings. Experts cites the transaction as a potential means by which Thai companies could obtain alternative sources of loans. Wongpaitoon, whose shares increased by 27 cents during the early quarter of 1998, is a major distributor to Reebok International Ltd.

Footwear, Footwear Wholesale, Footwear Wholesalers, International trade, Footwear industry, Wongpaitoon Group PLC, Daiwa Securities America Inc.

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A setback for Next Media

Article Abstract:

Magazine publisher Next Media Group Ltd.'s planned public offering on April 1, 1997 was hampered when Sun Hung Kai International Ltd. resigned as its underwriter. The move reflects the uncertainty of doing business in Hong Kong as it reverts to Chinese rule on July 1, 1997. Sun Kung Kai International managing director Peter Fung declined to give full details on why his company backed out from the deal.

Financial services industry, Financial services, Next Media Group, Sun Hung Kai International Ltd.

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Cosmo goes to Indonesia

Article Abstract:

Hearst Magazines International, publisher of the Cosmopolitan magazine, will help Soetikno Soedarjo publish a local version of the magazine in Indonesia to be titled Kosmopolitan. The magazine, to be published through the license of PT Media Interaksi Utama that Soedarjo is acquiring, is expected to be welcomed despite the country's predominant Muslim population.

Publishing industry, Indonesia, Cosmopolitan (Periodical), Hearst Magazines International

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