KP Financial Troubles in Thailand

[Foxy-Lady]

3 hours ago, Ricey said:

What?! From the same people that brought these beauties to the people of Leicester...

 

...it just doesn't add up.

Have they ever released any figures on Sales of these items...??

 

Curious to know how "successful" these were as dont recall ever seeing any of these beauties in the pubs and clubs of leicester..?!?

[sylofox]

But will all the prawn sandwich happy clappers see this or here about it by Friday.

 

 

Looking forward to 10yrs in div2 with these bleeding us dry.

[Kopic]

Eagerly awaiting the Foxes Trust response.

[adam]

So these loans we've been getting from that aussie bank that are secured on our tv money, there not for us then!

[Mark_w]

4 hours ago, HitchinFox said:

 

There was a strong argument that they were definitely up there with the best, before Vichai died. 

 

Now? Miles off. Mixture of incompetence and in-fighting across every aspect of KP's businesses. 

 

 

4 hours ago, Larry_LCFC said:

Top is riding off his dad's reputation both in business and as a football club owner. He doesn't even come close to Vichai. 

4 hours ago, Nolucklcfc said:

This is the problem. Just because Vichai was a very good businessman, it doesn’t mean his son is. We are seeing this now through the football decisions and evidently king powers business. 

Let’s not pretend we were incredibly well run before Vichai died. The first thing they did when they came in was try to get rid of the Birch - an obvious PR disaster. Before we reverted to the manager who had been doing good work pre-King Power we adopted a reckless scatter gun approach of spending lots of money on anyone who was high profile by Championship standards (both managers and players) and willing to come. By all accounts we were sounding out Harry Redknapp while Pearson was still in the job, and they later fired Pearson and u-turned the next day (thank god, the right decision in the end but never should have put themselves in that position). Once Pearson/Walsh/Shakey were gone we reverted back to being a pretty clearly directionless football club fumbling along, appointing ex-Premier League managers the owners had heard of with seemingly no consistent tactical approach. And that 14 seconds late Adrien Silva deal? Vichai was still our owner. 

A switch didn’t just flick when Vichai died and we suddenly became incompetent.

Edited 19 February by Mark_w

[pleatout]

The retailer currently owes AOT more than 4 billion baht in outstanding MGs, incurring a hefty 18% annual interest (1.5% monthly). King Power has requested a reduction in this interest rate, prompting AOT to consider a rate linked to the Minimum Lending Rate (MLR) plus 2%, which would be approximately 9% per year.

 

4 billion baht or £95m  Or less than Top has just written off. 

 

£17m in interest down to £8.5m

 

I dont think anyone is losing sleep in KP at the moment.

 

[Zear0]

PSR's fault.

[Danizen]

4 hours ago, Kopic said:

Eagerly awaiting the Foxes Trust response.

Something about them having a conversation with the board about it but not being able to tell us anything. 

[MattFox]

43 minutes ago, pleatout said:

The retailer currently owes AOT more than 4 billion baht in outstanding MGs, incurring a hefty 18% annual interest (1.5% monthly). King Power has requested a reduction in this interest rate, prompting AOT to consider a rate linked to the Minimum Lending Rate (MLR) plus 2%, which would be approximately 9% per year.

 

4 billion baht or £95m  Or less than Top has just written off. 

 

£17m in interest down to £8.5m

 

I dont think anyone is losing sleep in KP at the moment.

 

I mean if I sent the share price of the worlds second biggest airport company tumbling which is majority owned by the government I’m reliant on for my patronage , I’d probably be losing sleep.

 

 

[Richmondfox]

Someone will get their tea money then it will be paid and forgotten about. 
 

 

 

 

[splinterdream]

4 hours ago, Sol thewall Bamba said:

From a 2 second Google search and a nice agentic generative AI summary:

 

"According to recent data, Thailand welcomed approximately 35.5 million international tourists in 2024, marking a significant rebound from the pandemic lows, with the majority of visitors coming from the Asia-Pacific region followed by Europe; this figure is close to the pre-pandemic level of 39.8 million visitors in 2019."

 

So it's lower by 10% or so.

Could that be because flights are so much more expensive now?

[coolhandfox]

Not surprised.

 

I'd imagine KP are just looking to  leveraging pandamic and other factor reduce its liability.

 

It you paying interest on loan, you'd be looking at options to reduce it.

 

 

 

 

 

Edited 19 February by coolhandfox

[Globalfox]

7 hours ago, TheStig said:

As far as I can read 58% of the shares of Leicester City are personally owned by Top and the rest by (I guess) family members. So that should financially put us outside the KP Group - but correct me if Im wrong please

 

Incorrect Top owns more than 75% of the shares in Leicester City Football Club, I suspect he owns 100%. King Power owns nothing in Leicester City Football Club. Other than as a sponsor they have no fiscal risk in the club. What happens at King Pwer has no direct influence on the club. If it stops supplying money to Top as an individual then his ability to spend becomes a problem. As regards financial lines of credit with Macquarie bank they can only be spent on Leicester City Football Club business unless Top makes a loan to KP and records it. Complete irrelevance this topic.

[Parafox]

9 hours ago, Ricey said:

What?! From the same people that brought these beauties to the people of Leicester...

 

...it just doesn't add up.

 

5 hours ago, Foxy-Lady said:

Have they ever released any figures on Sales of these items...??

 

Curious to know how "successful" these were as dont recall ever seeing any of these beauties in the pubs and clubs of leicester..?!?

 

You never see them because they're sought after collectors items and they have them in glass cases so they can stare at them before bed and impress guests with their style and classiness.

 

You know, like a unique Versace dress.

 

 

[Clever Fox]

58 minutes ago, coolhandfox said:

Not surprised.

 

I'd imagine KP are just looking to  leveraging pandamic and other factor reduce its liability.

 

It you paying interest on loan, you'd be looking at options to reduce it.

 

 

 

 

 

That's all It's just a sensible business decision to challenge recent events.

 

If the Aot hasn't supplied the customers during the pandemic then it's unreasonable to expect companies continue to pay pre pandemic prices.  

[Dreadnought]

9 hours ago, Micky said:

King Power is considered to be very stable (Moody's Investors Service), indicating a strong financial position with minimal risk of significant changes in the near future; their main source of revenue, the duty-free business, benefits from its close ties to the Thai government, acting as a largely government-sanctioned monopoly.

Moody's has affirmed King Power Capital's credit rating with a stable outlook, signifying confidence in their financial health.

Having worked in credit for almost 30 years, I would have absolutely zero confidence in anything that Moody’s say. 

[Lambert09]

With each passing day I find myself more and more convinced that this family made a deal with the Thai devil for our title win 

[Nick]

12 minutes ago, Lambert09 said:

With each passing day I find myself more and more convinced that this family made a deal with the Thai devil for our title win 

Stop doing crack on Wednesday's it's not the new you.

[Paninistickers]

31 minutes ago, Dreadnought said:

Having worked in credit for almost 30 years, I would have absolutely zero confidence in anything that Moody’s say. 

Didn't one of the investment banks that packed up the shite mortgage funds persuade Moody's to rate them favourably, with Moody's knowing full well the funds were crap? 

[K789]

2 hours ago, pleatout said:

The retailer currently owes AOT more than 4 billion baht in outstanding MGs, incurring a hefty 18% annual interest (1.5% monthly). King Power has requested a reduction in this interest rate, prompting AOT to consider a rate linked to the Minimum Lending Rate (MLR) plus 2%, which would be approximately 9% per year.

 

4 billion baht or £95m  Or less than Top has just written off. 

 

£17m in interest down to £8.5m

 

I dont think anyone is losing sleep in KP at the moment.

 

Lets be honest this is just haggling and with KP being gov backed they can get away with it

[fazzyfox]

You try running an Airport Duty Free business in a lockdown. Those Toblerone have expiry dates you know 

[Greg2607]

that doesn't sound great does it. 

 

[Phil Mitchell]

650 million baht sounds eye watering but works out at about only 15 million.

 

Not sure how to feel about this, because it may mean he hopefully sells up in the grand scheme 🤞🏻🤞🏻

[MPH]

Hold your horses, everyone.

 

 

im not convinced that king power are in genuine financial difficulty,  if they were they wouldn't have recently converted debt to equity.

 

it really only helps the sale  of the club if we are a thriving prem club not one heading to relegation. He’d be able to get that money back in his asking price if we were in the prem. Price goes down if in the champ.

 

 

 

im sure multi billion dollar companies are rinsing their creditors all the time.

Edited 20 February by MPH

[st albans fox]

3 minutes ago, MPH said:

Hold your horses, everyone.

 

 

im not convinced that king power are in genuine financial difficulty,  if they were they wouldn't have recently converted debt to equity.

 

it really only helps the sale  of the club if we are a thriving prem club not one heading to relegation. He’d be able to get that money back in his asking price if we were in the prem. Price goes down if in the champ.

 

 

 

im sure multi billion dollar companies are rinsing their creditors all the time.

How much of the club is owned by KP ?   could be smoke and mirrors re where the money is from but the conversion of debt for equity was moot because they were never getting the debt repaid.