On 10 January 2024, the Central Bankruptcy Court ordered the business rehabilitation of ACAP and designated the company as the plan administrator. Pursuant to the Bankruptcy Act B.E. 2483 (1940), the next step is for creditors to submit a request for debt repayment to the official receiver of the Legal Execution Department, within one month from the publication date in the Government Gazette on 12 February 2024. The deadline falls on 12 March 2024.* Missing it could result in the bondholders losing their entitlement to debt repayment.       

The SEC is therefore recommending that each ACAP bondholder submit a request for debt repayment via the following channels:

1) Electronic submission  

Bondholders may use the electronic form and attach supporting documents via the methods, terms and conditions specified on the Legal Execution Department website at: https://reorg-service.led.go.th.

2) Hardcopy submission at the Legal Execution Department offices  

Bondholders may submit a request for debt repayment to the official receiver at the Business Reorganization Division, the Government Complex Commemorating His Majesty the King’s 70th Birthday Anniversary, 5th December, Rajaburi Direkriddhi Building (Building A), 8th Floor, 120 Changwattana Road, Tong Song Hong Sub-District, Laksi District, Bangkok 10210 or the Legal Execution Department offices nationwide. The Request Form is downloadable on the Legal Execution Department website:  https://www.led.go.th/form/form.asp

Currently, ACAP has seven tranches of outstanding bonds with details as follows:    

1. Debentures of Asia Capital Group Public Company Limited No. 3/2017 Due 2019 (ACAP19OA);      

2. Debentures of Asia Capital Group Public Company Limited No. 1/2018 Due 2020 with The Issuer's Right of Early Redemption (ACAP202A);

3. Debentures of Asia Capital Group Public Company Limited No. 2/2018 Due 2020 with The Issuer’s Right of Early Redemption (ACAP207A);

4. Debentures of Asia Capital Group Public Company Limited No. 3/2018 Due 2020 with The Issuer’s Right of Early Redemption (ACAP209A);

5. Debentures of Asia Capital Group Public Company Limited No. 4/2018 Due 2020 with The Issuer’s Right of Early Redemption (ACAP20NA);

6. Debentures of Asia Capital Group Public Company Limited No. 1/2019 Due 2021 with The Issuer’s Right of Early Redemption (ACAP212A);

7. Debentures of Asia Capital Group Public Company Limited No. 2/2019 Due 2021 with The Issuer’s Right of Early Redemption (ACAP213A).

ACAP bondholders can access supplementary documents and submission guidelines for debt repayment requests on the Legal Execution Department website at: https://www.led.go.th/brd/efiling/ or call the Legal Execution Department at 0-2142-5201-13. For holders of four tranches of the bonds represented by the bondholder representative, further inquiries can be made with Pi Securities Public Company Limited.**

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Remarks:

* Notification of the Official Receiver regarding Order of Business Rehabilitation and Appointment of the Plan Administrator of Asia Capital Group Public Company Limited as Debtor.  

** Pi Securities Public Company Limited is the bondholder representative for ACAP209A, ACAP20NA  ACAP212A and ACAP213A.