TPI Polene gets one-year extension for reorganisation plan
TPI Polene PCL, Thailand’s third largest cement maker, said Wednesday the Central Bankruptcy Court has approved Tuesday’s request from the company and its subsidiary to extend the implementation period of its business reorganisation plan for another year.
The company built up huge foreign currency debt, which it was unable to pay after the baht was floated in 1997.
The court extended the period to the end of December 2008, the company said in a statement to the Stock Exchange of Thailand.
The company reported a consolidated THB17.27bn in total liabilities as of the end of September this year. Published under Cement News
