The Cooperative Promotion Department (CPD) has established a panel to study proposed increased investment in Thai Airways International (THAI).
Wisit Srisuwan, the department’s director-general, said that a subcommittee on investment under the National Committee on Cooperative Development (NCCD) on Friday considered a proposal that 87 cooperatives, all of them THAI creditors, be allowed to invest in debentures to raise capital and buy THAI’s shares so they can convert debt into equity shares.
THAI owes 45 billion baht in debt to the cooperatives. The proposal was submitted by the Federation of Savings and Credit Cooperatives of Thailand.
The cooperatives argued that the proposal will…
