Italian-Thai Development (ITD) Plc, currently facing financial distress, is set to receive an infusion of funds from its major creditors. The provision of fresh capital is aimed at bolstering the company’s operations without necessitating any rehabilitation plan.
Bangkok Bank (BBL) President Chartsiri Sophonpanich, who is also a key ITD creditor, underlined the strong long-term business prospects of ITD, despite the company currently grappling with liquidity issues. Chartsiri confirmed that BBL, along with other significant creditors, is ready to offer financial support to ITD.
“BBL is committed to assisting the customer by providing supplementary liquidity, working capital and facilitating debt restructuring. In addition, every major creditor has assisted ITD with its debt restructuring efforts, so ITD does not need to prepare any rehabilitation…
