Fitch: SVI, MBK unchanged

Fitch Ratings said that although the severe flooding in central provinces of Thailand will impact economic growth in the fourth quarter of 2011, the direct impact should be limited to two companies with operational sites in the affected area.

However, there is no immediate impact on SVI PCL and MBK PCL.

SVI is located in the Bangkadi Industrial Estate, which is at risk of flooding. While it has insurance for property damage and business interruption, the impact on its operations and financial position could be material, Fitch said.

MBK's golf course and rice-packaging facilities also could be flooded, although these are small contributors to that company's overall operating cash flows, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.