Bondholders of Stark Corporation Public Company Limited called for immediate payment of about US$200 million after a special audit revealed accounting irregularities, the latest trouble for the Thai electrical components maker that has defaulted on debt and seen its shares plummet to near-zero.
Holders of three series of bonds maturing between 2024 and 2025 totalling 6.95 billion baht (US$200 million) submitted payment demand letters to Stark on Tuesday. The company has until July 20 to pay the principal and interest, Kasikornbank Pcl and Asia Plus Securities Co said in separate statements.
“It’s uncertain how much bondholders and other creditors of Stark can reclaim as the company doesn’t have many…
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