Latest news with #SET
BusinessToday
an hour ago
- Business
- BusinessToday
Thai Airways Resumes Trading In August After Pandemic Triggered Bankruptcy
Thai flag carrier Thai Airways International will resume trading in August, the stock exchange said on Wednesday, marking the end of a long restructuring process triggered by the pandemic. In 2020, the national carrier went into bankruptcy-protected restructuring, and drew up plans to restructure debts worth 400 billion baht ($11.17 billion). As part of those plans, it reduced its workforce by half and trimmed its also appointed Piyasvasti Amranand, the airline's president from 2009 to 2012 to its restructuring committee, along with a number of veteran bankers. Thai Airways had already been making losses since 2012 as a result of growing competition from budget carriers. As part of the restructuring programme, the government reduced its stake, meaning that the carrier lost its state-owned enterprise status. 'The SET approves the removal of THAI securities from the possible delisting list, the lifting of its suspension and non-compliance designations,' the Stock Exchange of Thailand said in a statement. Reuters Related
Bangkok Post
3 hours ago
- Business
- Bangkok Post
SET approves THAI's return to trading from Aug 4
The Stock Exchange of Thailand (SET) has approved the reinstatement of Thai Airways International Plc (THAI) on the main trading board from Aug 4, following a long debt restructuring process. THAI was flagged for potential delisting after its 2020 financial statements showed negative shareholders' equity. Since then, the national carrier has completed a bankruptcy court-approved debt restructuring process to rectify its financial position and meet all criteria required to resume trading. As part of the reinstatement process, the airline has submitted a formal request to the SET for the removal of the delisting alert and to resume trading. It has agreed to comply with the Silent Period regulation, which restricts strategic shareholders from selling 55% of paid-up capital for a period of one year. The SET has consequently removed the 'SP' (suspension) and 'NC' (non-compliance) signs on THAI securities and will allow trading to resume under the Services Industry Group, Transportation and Logistics Sector, starting on Aug 4. Investors and shareholders were advised to review THAI's latest disclosure and financial summary via the SET information system. On the first day of trading, THAI shares will not be subject to the usual ceiling and floor price limits, dynamic price bands or auto-pause mechanisms. These measures will be reintroduced on the following trading day, once the shares are actively traded. In addition, THAI shares will be included in the SET Index calculation starting the next business day after trading resumes.
Bangkok Post
9 hours ago
- Business
- Bangkok Post
THAI expects relisting, to resume trading in August
Thai Airways International (THAI) expects to resume trading on the Stock Exchange of Thailand (SET) early next month, while reaffirming its commitment to the maintenance, repair, and overhaul (MRO) investment at U-Tapao Airport. CEO Chai Eamsiri said Monday the company is awaiting confirmation of the official relisting date this week. Although global markets have been affected by recent US tariff policies, THAI only anticipates a limited indirect impact. The company views its return to the SET as an attractive opportunity for investors, particularly with the high tourism season approaching. THAI remains confident in its financial stability following a successful rehabilitation, Mr Chai said. On June 16, the Central Bankruptcy Court officially lifted the airline's rehabilitation status after it met all conditions outlined in its restructuring plan. These included a capital increase to support equity restructuring; full compliance with debt repayment terms; achieving earnings before interest, taxes, depreciation and amortisation (EBITDA) of 40.3 billion baht -- well above the 20-billion-baht benchmark -- and returning to positive shareholder equity; and the appointment of a new board of directors. Despite the second quarter typically being a low season, Mr Chai said, THAI reported a solid performance. Passenger traffic from China has remained steady, mostly comprising independent travellers and transit passengers. The airline, meanwhile, has seen increased passenger numbers from Europe during this period. Regarding the MRO project at U-Tapao, Mr Chai addressed the recent cabinet resolution that revoked THAI's access to land in the Eastern Economic Corridor (EEC), following its transition from a state enterprise. He said the company expects the EEC Office to either reopen the project for bidding under a public-private partnership model or offer the site under a lease agreement. THAI reaffirmed its commitment to the project, highlighting its potential to stimulate investment and economic growth.
Deccan Herald
2 days ago
- General
- Deccan Herald
Seshadripuram English High holds student orientation
Seshadripuram English High School conducted an orientation for high school students, presided over by SET Honorary General Secretary Dr. Wooday P. Krishna and Committee Chairman B.C. Loknath. Chief guest Lavanya, senior coordinator at Disha Bharath, delivered a powerful talk titled 'Building the Better You,' focusing on confidence, empathy, and social skills.
Bangkok Post
2 days ago
- Business
- Bangkok Post
PTTEP wins two honors at Money & Banking Awards 2025
Mr. Montri Rawanchaikul (left), Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), received two prestigious accolades at the Money & Banking Awards 2025: Best Public Company of the Year 2025 on the Stock Exchange of Thailand (SET) and Best Public Company of the Year 2025 in the Energy & Utilities Sector. The awards were presented by Dr. Sethaput Suthiwartnarueput (center), Governor of the Bank of Thailand, and Mr. Santi Viriyarungsarit (right), Chairman of Money & Banking Magazine, at Hyatt Regency Bangkok Sukhumvit. Organized by Money & Banking Magazine, the Best Public Company of the Year 2025 awards were determined through a fundamental analysis of business information from companies listed on the SET. The evaluation was based on four key factors: size of the firm, profitability, return on investment, and investment liquidity.
