JKN must settle the outstanding debt of 443 million baht, including capital and interest, for its JKN239A debentures by Sept. 1. The total debt is 609 million baht (about US$ 17.5 million).
JKN is best known for owning the rights to the Miss Universe pageant.
Gun Hathaisattha, an analyst at CGS-CIMB Securities, told Krungthep Turakij newspaper on Thursday that the failure to secure funding had severely impacted JKN’s liquidity.
Krungthep Turakij is part of Nation Group.
Citing similar incidents at STARK and ALL–two companies that had defaulted on debt repayments and caused significant losses to investors–he advised investors to avoid JKN’s debentures as well as the company’s ordinary shares.
“As JKN shares are on the selling trend, investors who can not bear the risk should not consider keeping them,” Gun said. “JKN’s balance sheet, budget and cash flow point to a…
