PwC said changes in the way financial instruments are classified under the new Thai Accounting Standards (TAS32) may result in perpetual bonds being reclassified from Equity to Liabilities and thus could increase D/E ratio and potentially leading to a breach of debt covenants and ultimately prompting banks to call in all outstanding loans. PTTEP, IVL, ANAN, CPALL, CPF, PF, MINT, TTCL, BCP are among those who had issued, and in the offing are IVL, BGRIM, TU.

Comment: I find this to be rather amusing, most of the listed companies here have incredibly strong balance sheets excl PF, and any investor with a 1/2 brain would know that a perp bond is a liability and not equity…

SCB reports avg deposit/withdrwal via banking agent, 7-11, at Bt137m/d, sees transactions saturated at fresh mkt where vendors in the mkt operate the whole night.

Comment: Hence why I’ve been calling SCB the purple chicken for the longest time. They’ve been effectively financing CP Group for the past decade and now ensuring that their creditor can pay back via putting their businesses through CP entities.

SNC expects to bk Bt200m gains from disposal of assets in 3Q, mulls to tap in waste pp to boost recurring income, will finalize plan by eoy.

  1. peter satrapa-binder

    well, also to my understanding bods of ANY kind, whereever, whenever, have ALWAYS been liablities/debt instruments. who ever had had the glorious idea to classify them as equity?:)

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