MINING
Banpu declines to set provision for payout
- Published: 2 Oct 2012 at 00.00
- Newspaper section: Business
Banpu's shares improved slightly after the company decided not to set a provision for damages set by the Civil Court in a legal dispute with Siva Nganthavee's group over Hongsa Power Co in Laos.
Banpu submitted a statement to the Stock Exchange of Thailand on Sept 20 regarding the court ruling that ordered the company to pay damages totalling 33 billion baht to Mr Siva and his group for opportunity loss.
Analysts had said Banpu would have to set a provision of more than 4 billion baht this year.
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