ASEAN Finance / Green River-KY's Thai Subsidiary Halts Operations, Converts Self-Used Real Estate to Investment Assets

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(CNA, Taipei, June 15) Green River-KY announced that its subsidiary, Green River Panels Trang (Thailand) Co., Ltd., will halt operations due to sustained losses caused by changing economic conditions, and will reclassify certain real estate assets as investment properties.

Green River-KY stated that due to ongoing losses resulting from recent economic and market changes, and in consideration of the group's overall operations and financial health, the subsidiary GPT plans to cease operations and open its composite board Plant 3 in Trang Province to external leasing opportunities.

Green River-KY is the first Taiwanese manufacturer in Thailand to integrate composite board production with solid wood processing. It primarily operates manufacturing facilities in the border region of Songkhla Province in southern Thailand, serving markets in Taiwan, China, Hong Kong, Singapore, South Korea, Malaysia, and Indonesia. 1150615