RS defaults on interest payment of 27.48 million baht, fears being pursued for the entire 2,875 million baht debt

RS accelerates debt restructuring negotiations after defaulting on 27.48 million baht in interest payments, facing bank demand for entire 2,875 million baht debt, Q1/68 heavy loss of 275 million baht

On May 16, 2568, RS Public Company Limited (RS) informed the Stock Exchange of Thailand that the company had failed to comply with the terms of loan agreements between the company and its subsidiaries with financial institutions. There was a default on interest payments totaling 27.48 million baht, resulting in the financial institutions having the right to demand repayment of the loan as follows:

• In the case of the Company, short-term and long-term loans amount to 940.20 million baht and 831.32 million baht, respectively.
• and in the case of subsidiaries, short-term and long-term loans of 225.23 million baht and 878.57 million baht, respectively (total of 2,875 million baht)

The Stock Exchange of Thailand has listed the CB symbol.

However, the Company and its subsidiaries are currently negotiating debt restructuring with financial institutions to resolve the situation as soon as possible.

RS reported its operating results for Q1/68 with a net loss of 274.63 million baht, a net loss per share of 0.1258 baht, compared to the same period last year with a net loss of 130.25 million baht, a net loss per share of 0.0609 baht.

Read all interesting business news here.