JKN Global reassures traders after bond fee rescheduling

JKN Global Group Plc (JKN), the proprietor of the Miss Universe Organization (MUO), reassured buyers that its monetary status is strong, regardless of a current bond fee rescheduling attributable to a liquidity mismatch. Gift , the chief govt and managing director, stated at a briefing that the corporate is about to satisfy its income target of over three billion baht this yr and won’t miss any forthcoming bond curiosity funds.
The company had lately introduced that it couldn’t absolutely pay the 609 million baht due on its JKN239A debentures. Instead, it might pay 26% of the whole, 156.6 million baht, leaving an impressive steadiness of 443 million baht. The cost, comprising 146.62 million baht of principal and 9.ninety eight million in interest, was disclosed in a filing to the Stock Exchange of Thailand (SET). Jakkaphong explained the procedure.
“We have money of 156.6 million baht for the bond cost. For those that might be paid later, they will obtain interest for the delay and Asia Plus Securities, the bondholder representative, will contact them by Sept eleven for more details.”

The debentures in query are the primary of seven series of bonds worth three.36 billion baht in complete. The subsequent interest fee is due on September eleven, with subsequent funds scheduled for October 20 and Nov 10, 13, 15 and 24. The remaining six tranches of bonds, amounting to 2.76 billion baht, mature in 2024 and 2025.
Despite the recent rescheduling, JKN stays optimistic about its future income, due to the scheduled hosting of the 72nd Miss Universe pageant within the fourth quarter, which the corporate believes will considerably enhance its earnings.
JKN reported revenue of 1.5 billion baht within the first half of this 12 months, a 51% increase from the previous 12 months, with a web revenue enhance of 33% to 102 million baht.
The company has plans for additional expansion, including the introduction of latest product traces similar to drinks, skincare, and spa products, in addition to diversification into the tour enterprise. However, brokerage firm Yuanta Securities has expressed considerations that these ventures could put further strain on JKN’s liquidity.
JKN also expects to see an increase in income from the pageant enterprise in El Salvador, projecting 566 million baht in the second half of the 12 months, up from 230 million within the first six months, stories Bangkok Post..

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