Nation Multimedia Group (NMG), a SET-listed media company, will sell its non-core assets, including its shares in digital TV channel Now26, and a printing plant, for 1.4 billion baht ($42.8 million) through a bidding process next year.
The disposed assets include Nation U (NU), which operates Nation University; Bangkok Business Broadcasting (BBB), which operates Now26 digital TV channel; WPS (Thailand), which operates a printing plant; NML, which provides logistics service; and its land and buildings.
The auction is expected to be completed around March-April 2018 after it is granted the relevant approval by its shareholders on February 28, NMG said in a filing to the Stock Exchange of Thailand on Wednesday.
The company said the proposed transactions are part of its business restructuring plan. After the disposal process is completed, it will focus on the core businesses of printing media, activity and event organization, content production, NBC group’s television media business (Nation 22 news channel on digital TV) and the businesses of NINE Group.
Proceeds will largely be used to repay debts, reduce interest payments and as revolving capital, with a small portion to be used to cover operating expenses, NMG added.
DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.
Thailand’s Vaccine Strategy: What went wrong?
Questions are being asked, and not answered, over the decision to rely almost entirely on Siam Bioscience, a local, palace-owned company with no experience of making vaccines, for the country’s vaccine needs, until an unseemly scramble began this year to procure alternatives.
Last year Thailand won worldwide praise for its effective measures to contain COVID-19. This year the government is facing growing public outrage over the failure to control new covid outbreaks, and the slow acquisition of vaccines.(more…)
Thai economy in the pandemic era: can it ever be the same?
What is the way forward for Thailand, and how strong is the case for a radical overhaul of economic and development policies?
Forecasts for Thai economic growth this year have been widely slashed to less than 2%, some much lower, reflecting growing gloom about the trajectory of an economy battling the third wave of COVID-19 and resulting lockdowns and social distancing measures.(more…)
Subscribe via Email
How the COVID-19 situation may affect Thailand’s export sector
Thailand's export sector could face damage of 200-300 billion baht if the situation cannot be brought under control within six...
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...