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Article: N-Park confident it can finance hotel: Selling Finansa stake possible.
- Article from:
- Bangkok Post (Bangkok, Thailand)
- Article date:
- April 29, 2005
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Copyright informationCOPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kanana Katharangsiporn
Apr. 29--Financially strapped Natural Park Plc is confident that it will find fresh funds to move forward with its planned investment to build a six-star hotel on land owned by the Treasury Department on the bank of the Chao Phraya River, which now serves as a residence for firefighters and marine police in Bang Rak.
N-Park president and chief executive Sermsin Samalapa said the company had enough cash flow to pay the upfront fee of 128.3 million baht on the day of the contract signing which is scheduled to take place on May 10.
He said that of that amount, about 125 million baht was the brokerage fee and 3.3 million baht would go ...
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