This morning (9 Nov. 2023) JKN Global Group Public Company Limited (JKN) reported to the Stock Exchange that Has filed a request for business rehabilitation (Filing for bankruptcy) and proposing a business rehabilitation plan to the Central Bankruptcy Court.
As a result, the stock price fell to 0.77 baht, decreasing 29.36% or falling to the floor level after trading opened.
The main points of the business rehabilitation petition are as follows:
- The Company, as the debtor, filed a petition for business rehabilitation with the Central Bankruptcy Court.
- The company proposes JKN Global Group Public Company Limited to be the plan maker.
- Guidelines for the initial rehabilitation plan include:
Adjusting the business and financial structure to be in line with the current financial economy. Edit working capital Create liquidity and restructure the organization
Extend the repayment period Sell assets that are not generating income Then use the money to pay off debt. To keep the company going
The interesting thing is that JKN has more total assets than liabilities. The total assets are 12,161 million baht, while the total liabilities are 7,398 million baht, or this may be called JKN falling on the mattress.
Picture from SET
