Creditors of TPI approve a plan to restructure debt

Article Abstract:

Thai Petroleum Industry PCL's four-year restructuring plan for $3.7 bil in debt has been approved by creditors, but the firm's founder intends to challenge the deal in court. Under the proposed plan, creditors would trade $756 mil in unpaid interest for an equity stake of 75% in the company.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Mergers, acquisitions and divestments, Petroleum industry, Thai Petroleum Pipeline Company Ltd.

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Thailand is cheered by fund's purchase of Bangkok block; hints of life return to the country's moribund real-estate sector

Article Abstract:

Access Thailand Investment Funds has agreed to purchase a luxury residential block in Bangkok, Thailand, which is located in a central business district. The purchase is expected to bring life to an otherwise moribund real-estate industry. It provides a major breakthrough for the Thai market as well as benchmark for future transactions. The agreement between the fund-management firm and Patanapongs Property Co is said to involve $26.6 million.

Investment Advisory Services, Investment Advice, Purchasing, Investment advisers, Bangkok, Thailand (City)

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Thai Bank shares heat up as investor wariness eases

Article Abstract:

The Thai banking sector appears to be reviving after a prolonged slump, with the bank stock index regaining 20% of a nearly 50% decline experienced between mid-Jun 1999 and mid-Aug 1999. The industry's revitalization has particularly benefited Krung Thai Bank, which is likely the country's most troubled financial institution. The government's action in firing all but one member of the bank's directorial board encouraged local investors, who pushed its share price up by 28% on Sep 8, 1999.

Commercial Banks, Commercial Banking, Banking Institutions, Depository Credit Intermediation, Banking industry, Banks (Finance), Securities, Krung Thai Bank Ltd.

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