Alphatec may hold key to Thailand's future
Article Abstract:
Alphatec Electronics, the bankrupt Thai computer-chip maker, may restore investor confidence in Thailand if it succeeds with its restructuring plan. Price Waterhouse, Alphatec's court-appointed planner, is anticipated to submit Alphatec's restructuring plan to Thai officials as early as Monday, Nov. 9, 1998. Alphatec's plan involves the restructuring of $375 million in debt and the infusion of new capital by a substantial equity investor or investors. According to Robert Appleby, a partner with Hong Kong-based Asia Financial Products, Alphatec's success will be tantamount to saying that debt-ridden Thai companies have found a way to solve their debt problems.
Comment:
May restore investor confidence in Thailand if it succeeds with its restructuring plan
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Plan brings hope for cash
Article Abstract:
Aphatec Electronics PCL, a low-end computer chip company in Thailand, proposed a restructuring program and will be the first to try the new bankruptcy laws enforced in the country in early 1998. The company's restructuring plan, which was filed by PricewaterhouseCoopers, includes new capital from a strategic equity investor as well as writing off of a significant portion of its debt in exchange for an equity stake. The company, which owes around $375 million in past due credit, will need the approval of 75% of its creditors to realize the reorganization.
Comment:
Proposes restructuring program & will be first to try new bankruptcy laws enforced in country in early 1998
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Thai reinsurance attracts but stalwart stock proves elusive to investors
Article Abstract:
Shares of Thai Reinsurance PCL are considered valuable assets by fund managers and investors. The firm has reported steady profit growth for all quarters since 1993. Thai Reinsurance posted a net profit growth of 14% to $3.4 mil (140 mil baht) from January to June 30, 1998 compared to the 123 mil baht of the same period in 1997. Thai Reinsurance, created in 1978 by Thai nonlife and life insurance firms, is composed of more than 30 insurance firms, several foreign and local institutional financiers and 2 mutual funds.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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