“Magic” invites EXIM Thailand to explore damage and lend loans to its subsidiary STARK

Bangkok, July 17-"Magic" invites "EXIM BANK" to explore the damage, lending to STARK's subsidiary, urges the SET to take care of account dressing problems.

Mr. Arkhom Termpittayapaisith The Minister of Finance said that after the Export-Import Bank of Thailand (EXIM BANK) had granted a loan to a subsidiary of Stark Corporation Public Company Limited or STARK EXIM. BANK reported that it did not directly lend to STARK but did lend to Phelps Dodge International (Thailand) Co., Ltd., a subsidiary. Made a cable business before STARK distributed shares on the stock market.

Instruct EXIM Thailand to follow up in detail. to bring progress reports because it is a joint loan with other banks Not a main lending bank But have to look at the details and terms of joint lending to assess the damage

Mr. Krisada Chinawicharana, Permanent Secretary of the Ministry of Finance, said that the Ministry of Finance Ordered the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand thoroughly examined including establishing a working group Follow up on companies in the stock exchange that have account manipulation problems. to come to work in the form of action in conjunction with the academic department together to take care of the problem to keep up with the situation While the Bank of Thailand (BOT) has ordered banks involved to lend to STARK. Reserve money for 100% of doubtful debts already.

The correspondent reported that EXIM Thailand has jointly granted loans to other commercial banks. EXIM Thailand has granted more than one billion baht in loans. For creditors of other commercial banks such as Siam Commercial Bank

Has directly granted credit to STARK, amounting to 2,000 million baht, and with Kasikorn Bank as well. As for the release to Phelps Dodge International (Thailand) Company Limited (PDITL), as a manufacturer and exporter Major lights and cables which is a subsidiary of STARK through EXIM BANK, is ready to join in making a debt resolving plan with other financial institution creditors. to vote on a debt solution plan according to the resolution of the majority of creditors - Thai News Agency

Source: Thai News Agency