Stark Corporation Plc has issued a statement to reassure its shareholders, bondholders and creditors, saying its operations are continuing as normal with a strong backlog of orders that could generate enough capital to service its financial liabilities.
Stark, a wire and cable manufacturer, said in a letter issued yesterday that acting chief executive Vonnarat Tangkaravakoon would shore up problems with the company and restore the confidence of all stakeholders.
Mr Vonnarat, Stark's largest shareholder and director of the SET-listed TOA Paint (Thailand), took the helm following the resignation of Stark's board of directors and subcommittees earlier this month.
