Millcon Steel, or MILL, announced that its subsidiary WestTech Exponential Co., Ltd. is facing liquidity and operating cash flow problems, and has been sued by Intergreen Revolucy Co., Ltd. as plaintiff to recover debt for goods totaling 21.154 million baht. The two parties were unable to reach an agreement after negotiating repayment terms. The court has already issued a ruling in the case, and the two sides are currently still negotiating to settle the dispute jointly. Mr. Prawit Horungruang, Chief Executive Officer, stated that the counterparty and the counterparty's ultimate shareholders have no relationship with the company, its directors, executives, or major shareholders, and that the transaction was an ordinary commercial transaction and does not constitute a connected transaction. As for the impact on the group, there is no additional impact beyond what has already been stated in the consolidated financial statements and the One Report. The creditor item has been recorded in the financial statements since 2024, along with default interest from the date of the judgment to the present, in full. In addition, WestTech also defaulted on bond payments. On 30 June 2026, it failed to pay part of the principal on the STRD 24 DA bond series amounting to 40.81 million baht, representing 10 percent of the bond value at the issuance date, plus interest for the 14th coupon period of 4.695 million baht, bringing the total defaulted amount to 45.50 million baht. This stems from WestTech's liquidity problems, having previously defaulted on payments and requested extensions of time to pay.
WestTech faces liquidity problems, was sued for 21.154 million baht in goods, and defaulted on 45.50 million baht in bond principal and interest.
Intergreen Revolucy is the plaintiff suing WestTech to recover 21.154 million baht in goods debt, but the article does not indicate a clear positive or negative impact on it.
