Bangkok--May 25--SET
Executive Vice President of The Stock Exchange of Thailand (SET) Mr. Suthichai Chitvanich announced that during Q1/2005, one company was able to go back from the ”Companies Under Rehabilitation”, or REHABCO, sector to its normal one, i.e., Nakornthai Strip Mill Pcl. (NSM). Nevertheless, there are 45 other companies remaining in REHABCO. Of these firms, eight have qualified and are in the process of reinstatement. As for the other 32 firms, 20 have been completely restructured but are still waiting for their operational results to meet reinstatement requirements, and the remaining 12 are currently being restructured. In 2005 so far, 5 firms have moved into the REHABCO sector.
Mr. Suthichai reported, “Of the 32 companies which are waiting for their operational results to fully meet reinstatement requirements, 8 recorded improved performances in Q1/2005. The SET expects to help no less than 20 REHABCO companies be reinstated in their normal sectors by end-2005.
“Nevertheless, the SET is concerned that there may be some companies delisted when the deadline of March 27, 2006 arrives. There’s not much time left,” the SET’s EVP said.
Listed companies which have been in the REHABCO Sector for more than 2 years by March 27, 2006 but which haven’t completed their restructuring or improved their operational performances to meet the SET’s requirements will be turned over to the SET Board of Governors to consider delisting. The time period allowed is considered long enough for companies to restore their performances under existing improved economic conditions.
The 5 firms that have just been moved into REHABCO will be given 2 years starting from the date they were moved in to restore their operational performances. After the SET closes the REHABCO sector, the securities of these companies will be posted with a C sign (“Compliance”) and suspended from trading until these firms no longer face delisting.
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.