SET Announcements
CLARIFY THE CAPITAL INJECTION TO BCP
1600 / 057 / 2002
May 20, 2002
The Stock Exchange of Thailand
62, Ratchadapisek Road, Klongtoey
Bangkok 10110
Attention : President of The Stock Exchange of Thailand
Subject : Clarify the Capital Injection to BCP
Dear sir ,
According to the news appeared in Krungthep Turakij
newspaper on May 20, 2002 concerning capital injection to BCP amounting
to BHT. 6,000 million., which leads to BCP's decrease in debt to equity
ratio leveling at 1.7 times. And this ratio will lower than the
industry's which averages at 2.5 times.
The Bangchak Petroleum Public Company Limited (BCP) would like
to clarify that such capital injection option is a part of phase I
preliminary study Re: Business Enhancement Study for Bangchak Petroleum
providing consulting services by McKinsey & Company (Thailand) Co., Ltd..
Nevertheless, the McKinsey's phase II study shall provide details of
capital injection option by July 2002. Then, the result of phase II
study shall be proposed to the Ministry of Finance as to get approval
for the final option from the Cabinets.
Please be informed accordingly.
Yours sincerely,
(Mr. Narong Boonyasaquan)
The President
Corporate Planning Office
Tel: 0-2335-4583