Nawarat Patanakarn Public Company Limited (SET: NWR) has announced via the Stock Exchange of Thailand (SET) regarding a filing of a petition for business rehabilitation with the Central Bankruptcy Court. The details are as follows:
The Board of Directors’ Meeting No. 6/2026, held on 29 May 2026, resolved to approve the filing of a petition for business rehabilitation with the Central Bankruptcy Court under the Bankruptcy Act B.E. 2483 (1940), as amended (the Bankruptcy Act). In this regard, on 29 May 2026, the company has already submitted the business rehabilitation petition to the Central Bankruptcy Court. The Court’s consideration on whether to accept the petition for rehabilitation is currently pending.
The reasons and necessity for the company, as debtor, to file the rehabilitation petition with the Central Bankruptcy Court are as follows:
- The company operates large-scale construction and infrastructure businesses and has extensive experience and expertise in the industry over a long period of time. The company has continuously earned trust from both government and private sector clients and still possesses the capability to continue its business operations and generate future revenue.
- The company has been affected by economic conditions and intense competition in the construction industry, including volatility in construction material costs, energy prices, labor costs, and liquidity constraints. These factors have adversely affected the company’s operating results and debt management, resulting in substantial liabilities and the inability to repay debts as scheduled.
- Entering into the business rehabilitation process will enable the company to restructure its financial obligations and establish a systematic debt management plan under legal protection.
- The rehabilitation process will allow the company to restructure debts with various groups of creditors, including financial institutions, debenture holders, and trade creditors, in a fair manner and in accordance with the legal framework.
- The company believes that entering into the business rehabilitation process is the most appropriate approach to maintaining business continuity and maximizing benefits for creditors, shareholders, employees, business partners, and all stakeholders, compared to the alternative of bankruptcy proceedings.
- During the rehabilitation process, the company will continue its normal business operations. Currently, the company has ongoing construction projects in both the public and private sectors, as well as several projects currently under bidding and preparation for future bidding. In addition, the company expects continued financial support from financial institution creditors who intend to provide financial assistance to the company.
NWR reported a net loss of 1 billion baht at the end of 2025. This followed a 3.98 billion baht of loss in 2024. Meanwhile, the performance in the first quarter of 2026 also dropped, seeing a net loss of 77 million baht.
At the end of the first quarter of 2026, the company had 1.14 billion baht of cash and cash equivalents, and total liabilities were at 15.1 billion baht.
