Hana Microelectronics Expects One-Time Gain of THB378 Million from Redemption of Credit Suisse Fund

Hana Microelectronics Public Company Limited (SET: HANA) is anticipated to report a one-time gain of THB378 million in the second or third quarter from the redemption of Credit Suisse Supply Chain Finance Funds.

UBS Group AG has announced its plans to refund investors in Credit Suisse funds impacted by the Greensill Capital collapse, aiming to address the legacy issues of its former rival. Investors in the Credit Suisse Supply Chain Finance Funds can redeem 90% of their net asset value starting from Feb. 25, 2021, according to a statement released by UBS on Monday. The redemption offer began on Monday and will be available until July 31.

The downfall of a $10 billion group of supply chain funds associated with Greensill Capital, coupled with the Archegos Capital Management crisis, played a role in Credit Suisse’s demise in 2023. UBS took over the struggling bank through a government-supported rescue.

In the yearly financial report of 2021, HANA stated that there were exceptional items of THB 420 million (USD 12.7 million) that had been written down to zero of the balance of the Credit Suisse Supply Chain Fund.


Finansia Syrus Securities (FSS) expects HANA to book this as a one-time gain to strengthen its liquidity and future business expansions.