On Tuesday at 11:55 AM (Bangkok time), the share price of RS Public Company Limited (SET: RS) plummeted by 16.67% or THB 0.03 to THB 0.15, with a trading value of THB 3.81 million.
The continuous decline in RS’ share price is attributable to the Stock Exchange of Thailand (SET) marking a ‘CB’ (Caution – Business) sign on the stock as of May 18, 2026. This action followed the company’s disclosure of its first quarter 2026 financial statement on May 15, 2026, in which RS and its subsidiaries reported a default on a debt obligation to a financial institution. This development may impact investor perception regarding its financial stability.
RS clarified that, due to the ongoing economic slowdown, the company has been unable to generate revenue as originally planned, resulting in temporary liquidity issues across the group. Additionally, the group is currently in negotiations to restructure matured debt with a financial institution. This process has led to a default on promissory notes amounting to THB 317.37 million. The company has already recorded this amount as short-term borrowing and accrued interest in both its consolidated and separate financial statements.
As of May 18, 2026, the group was still negotiating repayment terms with the issuing financial institution. Management expressed confidence that these negotiations would soon reach a successful conclusion. Nonetheless, group executives are accelerating the implementation of both business and financial strategies to ensure adequate liquidity and debt-servicing capability, thereby supporting the continuity of business operations.
In 1Q26, RS posted total revenue of THB 333.4 million, representing a 19.2% decrease compared with the same period last year, when revenue stood at THB 412.6 million. The decline was observed across nearly all business segments. Furthermore, the company reported a net loss of THB 285.2 million, widening from the net loss of THB 274.6 million recorded in the first quarter of the previous year.
