Live Inc revamps to clear debt

Live Incorporation will overhaul its business structure in an effort to clear up Bt50 million worth of accumulated debt as recorded at the end of last year by placing the businesses of its seven subsidiaries into four categories.
To prepare for the business restructuring, the company increased its registered capital from Bt230 million to Bt460 million late last year, said CEO Sivaporn Chomsuwan, who took up the position six months ago.He said the four new categories were outdoor-media services, entertainment-programme producer for television, entertainment-business operator and information technology, the last one being a new business that Sivaporn said would support the growth of the first three. The new business structure will be seen at the beginning of the third quarter. Next year, after the restructuring has settled down, the new structure will show a clear business direction. He said Live was negotiating with several companies with annual revenues of Bt10 million to Bt100 million. Sivaporn said joining with those companies would support Live, both in terms of customer expansion and revenues, but that he could not identify exactly how much this would help increase Live's revenues until it was decided whom to join with. Live's old structure also consisted of four businesses, but they categorised differently: radio stations, films, entertainment-programme production for cable television and outdoor-media service provider. By restructuring the business, Live expects the target groups of all of its current businesses to be expanded and its sales revenues to grow from last year's Bt385.04 million with reduced losses. This year's first-quarter performance still showed a loss of Bt51 million, but that figure was better than last year's first quarter, which ended up Bt78 million in the red. Overall revenues for the period this year was Bt57.62 million. So far, it has used about Bt100 million from the increased capital to buy new equipment and new facilities for its studio. Nitida Asawanipont, The Nation
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