CPF TO RAISE CAPITAL TO SOLIDIFY FINANCIAL STATUS
Charoen Pokphand Foods (CPF) plans a Bt38.715-billion capital increase to adjust its financial portfolio, mainly to facilitate loan payments.
CPF chairman Adirek Sripratak said the company’s board of directors would seek approval from shareholders on the capital-increase plan at the ratio of five existing common shares to one new common share at the price of Bt25 apiece.
Once approved by shareholders, the company is expected to earn the capital in early August. It will be used for paying down loans both in Thailand and overseas, to reduce business costs by lowering the company’s interest-rate burden.
At present, CPF operates in 16 countries and targets sales growth of 8-10 per cent from last year. The growth will be mainly generated by its overseas operations.
It is also expected that the proportion of sales contributed by its overseas businesses will increase from 64 per cent to 70 per cent within five years.
ANALOG PHASE-OUT SCHEDULE APPROVED
The broadcasting committee of the National Broadcasting and Telecommunications Commission yesterday approved the time frame for the operator of Channel 7, Bangkok Broadcasting and Television (BBTV), to stop airing programmes on the analog system.
The plan to stop the analog broadcasting is divided into three phases. The first phase, beginning on August 1, will see the channel discontinuing the broadcasting in Chumphon, Songkhla, Sukhothai and Pang-nga provinces.
The second phase, which will start on December 31, will cover Pai and Mae Sariang districts of Mae Hong Son, Lampang, Kanchanaburi, Yala, Trat, Nakhon Si Thammarat, Nakhon Sawan, Ranong, Phrae, Satun and Buri Ram.
The third phase will begin on June 16 next year, the same date that the Army’s Channel TV 5 will cease broadcasting on the analog system. This phase will cover Hua Hin, Pattaya, Chon Buri, Sakon Nakhon, Ubon Ratchathani, Chiang Rai, Mukdahan, Phuket, Surat Thani, Loei, Rayong, Khon Kaen, Chiang Mai, Nakhon Ratchasima, Maha Sarakham, Nong Khai, Sa Kaew, Trang and Bangkok.