SCB Asserts Involvement in WEH’s Dispute Is Misinformed

The Siam Commercial Bank Public Company Limited or SCB gives a statement on the matter of involving Wind Energy Holding Co., Ltd. (WEH)’s shareholders dispute that, as of now, SCB had approved the loan for WEH’s 8 projects. Three of the projects had been commercialized, and the borrower had settled the loan as agreed upon.

As for the other five projects that are in the process of construction, SCB approved the loans after reviewing the possibility of success on each project, the continual of construction, cash flow and the potential of loan settlement, along with collateral assets, which met all of the bank’s conditions.

Regarding the dispute with WEH’s shareholders, SCB has no involvement with the current dispute between the original shareholders and the new shareholders, because SCB did not take WEH’s shares as collateral assets. Also, SCB has no intention to approve a loan to the new shareholders to pay off their debts from the share purchase agreement with the original shareholders. As to the dispute in the new shareholders’ family, the company also has no involvement at all.

In addition, the approval of all WEH’s 8 projects correspond to the government’s policy to support the clean energy business as an important basic structure for the country. To conclude, SCB asserts that the circulating news about SCB’s involvement in the dispute has been misinformed.