(Jan 28): Thailand’s largest construction company, which is under investigation for its role in two deadly accidents, won investor approval to restructure its outstanding bonds. Italian-Thai Development pcl received bondholders’ consent to extend the maturity of five notes totalling 14.5 billion baht (RM1.83 billion) by three years, the company said in an exchange filing Wednesday (Jan 28). Thai Prime Minister Anutin Charnvirakul said he wants the government to terminate Italian-Thai’s contracts for the projects where the crane accidents occurred. Italian-Thai, founded in 1958 by Chaijudh Karnasuta, a Thai national, and Italian Giorgio Berlingieri, has pushed back on such statements. A sustained sell-off in Italian-Thai’s stock has seen the firm’s market value shrink to about one billion baht from 12 billion baht in 2021.

Source: The Edge Markets January 28, 2026 04:59 UTC