UWC cut off their Non-core business
UWC is restricting their business by propose their 3 Biomass Power Plants to ACE for 851 Million baht. This clearing would be able to offset the corporate debt all over 320 million baht. This amount will be paid the bonds in total of 300 million baht before due date which instantly impact its D/E from 3.38 times to 1.74 times. It will be proposed to the extraordinary general meeting (EGM) on this upcoming 20 August 2020.
Theerachai Leenabanchong, CEO said our company decided this key restructuring by cutting off our non-core business to be able to focus our main Electronic-related and Transmission Tower which are all in our professional path with over 53 years of experiences. Assure that this action would definitely make a change positively towards to the firm accordingly.