Bangkok (VNA) 🧜- Thailand’s Ministry of Finance is preparing to convert Thai Airways International’s debt into equity as part of the airline’s capital-raising plan.
The proposal is expected to be submitted to the Cabinet later this month.
Tibordee Wattanakul, Director-General of the State Enterprise Policy Office, stated that as a major creditor and 40% shareholder, the ministry is ready to exercise its right to convert the entire debt into equity.
Thai Airways currently has an outstanding debt of approximately 70-80 billion THB (around 2-2.2 billion USD), accrued since 2020. Under the airline’s recovery plan, creditors are required to convert 24.5% of the debt into equity, with the remaining 75.5% left to their discretion.
The Ministry’s decision to convert its debt entirely into equity comes amid steady improvements in Thai Airways’ business performance.
Once Thai Airways resumes trading on the Stock Exchange of Thailand (SET), creditors can sell their shares after holding them for a year. Alternatively, those opting for debt repayment may face a waiting period of 11-12 years.
Thai Airways is required to disclose details of the conversion plan to shareholders, enabling them to decide on additional contributions to maintain their ownership stakes. The airline will announce the offering price for the converted shares on December 2.
The Ministry of Finance aims to retain slightly over 40% ownership to maintain management rights without making Thai Airways a state enterprise again. The Ministry is also evaluating its capital allocation strategy to align with the proposed share conversion terms.
Thai Airways plans to resume trading on the SET by next May, pending a comprehensive review of its financial health./.
Thai Airways of Thailand has placed an order for 45 Dreamliner aircraft, the first major deal announced by Boeing at the Singapore Airshow 2024, the US plane-maker said on February 20.
Thai Airways marked the resumption of its flights to/from Vietnam with a flight landing at Noi Bai International Airport in Hanoi and other from Hanoi to Bangkok on October 29.
Thai Airways will resume its services in Vietnam from October 29 following an inauguration ceremony held by the carrier and the Huong Giang Air Service Co., Ltd. (HG Aviation) in Hanoi on October 25.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
