Friday, June 19, 2009
The Nation is in Deep Financial Doo Doo
The Nation is in really dire financial straits.
Serious cash flow problem.
It is basically borrowing to stay afloat at this point.
It has no assets to leverage--except an over-inflated inventory.
It lost 60 million baht in the last quarter.
Its sales revenues declined by 24% in one quarter.
Earnings per share (.36)
What I find laughable is that it actually increased its value of "goodwill."
It owes 800 million baht in short-term loans.
I guess the publishers at The Nation haven't been reading Thanong's lectures on sufficiency economy.
Guess what? Things are only going to get worse.
Posted by Fonzi at 4:39 AM