Yggdrasil Group Faces Monetary Turmoil: SET Publish CB Sign Resulting from Mortgage Defaults and Main Q2 Losses

The Inventory Alternate of Thailand (SET) posted the image CB on the securities of Yggdrasil Group Public Firm Restricted, or YGG, beginning on August 16, 2024, as a result of the corporate did not repay debt to monetary establishments.

For securities said above Have to be bought with a Money Stability account (that’s, the member should course of it for the client. advance money deposit with the member in full earlier than buying the securities) from the date of signal on Till the stated case could be resolved.

YGG knowledgeable the Inventory Alternate that on April 2, 2024, the corporate issued a promissory be aware within the quantity of 9 million baht to the Export-Import Financial institution of Thailand. The promissory be aware is a secured kind. The corporate makes use of money as collateral within the quantity of 1.3 million baht with an rate of interest of 5.75% each year and is predicted to repay the principal. With curiosity from 26 June 2024

Nevertheless, because of the firm’s uncertainty concerning liquidity circumstances, on June 28, 2024, the corporate was in a position to repay the principal quantity of just one million baht plus curiosity. The corporate has did not repay the excellent short-term mortgage of 8 million baht from monetary establishments, which is within the means of negotiating to postpone reimbursement of the principal and curiosity.

By way of working leads to the 2nd quarter of 2024, the corporate had a internet lack of 378.10 million baht from the identical quarter final 12 months with a internet revenue of 25.72 million baht as a result of throughout the 2nd quarter the corporate acknowledged anticipated credit score losses. occur Losses from the write-off of assorted belongings totaled 375.60 million baht, resulting in the primary half of 2024, the corporate had a internet lack of 347.15 million baht from the identical interval final 12 months with a internet revenue of 57.23 million baht.

Due to this fact, the Board of Administrators assembly on 14 August 2024 determined to chorus from paying dividends from the working interval from 1 January – 30 June 2024.