haben Kredit über 800 Millionen erhalten für die Ausstattung der Firma,ist die erste Solarzellen-Fabrik in Südostasien,anscheinend haben die für Shell produziert February 9, 2006
Subject : The details of Siam Commercial Bank Financial Package Support for Solar cell Factory Project To : President of the Stock Exchange of Thailand
Solartron Public Company Limited would like to inform the details of Siam Commercial Bank Financial Package in order to support the Solar Cell Factory Project of which total investment value around 1,100 million baht. This factory is the first solar cell factory in South East Asia, which will reduce the cost of goods sold up to 20%. To facilitate the project, beyond the proceed from IPO of 464 million baht couple with cash flow from operation, the Board of Directors No. 2/2549 (January 30, 2006) has passed the resolution to sign on loan agreement with Siam Commercial Bank, on Thursday February 9,2006 of which details are as follow:- 1.L/C + Loan (Letter of Credit + Loan ) Facility THB 800,000,000 (eight hundred million baht) Objective To purchase the process equipment of solar cell factory. The company can draws down the loan to reduce the L/C for 500 million baht within 2006. 2. F/F (S) (Forward Exchange Sold) Facility THB 800,000,000 (eight hundred million baht) Objective To protect the foreign exchange risk for L/C and process equipment loan. The loan collateral: process equipment, land with Solar Cell factory According to financial statement dated September 30, 2005. Company debt to equity ratio is 0.32 and the interest coverage ratio is 54.10. In the case where the company draws down all aforementioned loans, the interest expense is around 16 million baht per year which slightly affect the company operating performance. The company debt to equity ratio will increase to 0.85 while the interest coverage ratio will decrease to 24.60 which are still better than the average ratios of the energy industry. These could indicate that, despite higher leverage, the companys financial status has remained solid and also has plenty of repayment capability.
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