Dear Khun Natchapak,
Within the next days ZIEHL-ABEGG SE is going to transfer the last outstanding Registered Capital Payment to fill up the equity to 26 Mio. THB.
From then on, we will finance ZA Thailand with a loan provided by ZA SE. Therefore, I drafted a loan agreement, which I herewith attach for your reference.
There are several items we want to analyse in this connection:
1. Does the attached loan agreement, the general structure and its payment schedule with a credit line to fill up and empty demand based comply with Thai Law?
2. Is the interest rate of 5 % reasonable from Thai side?
3. Can we convert outstanding trade receivables for machines and parts from ZA SE into a loan or does the money always have be physically paid from Germany?
4. Is it possible to get an exemption from WHT for interest charges (e.g. in line with BOI promotion)?
5. In other countries (such as Brasil) we have the opportunity to supply equity to the subsidiary and the subsidiary internally calculates a “virtual” interest on that equity which is not paid to ZA SE but can be deducted as taxable expenses? Is there something possible like that in Thailand?
Please be so kind and let us know your rate for answering the mentioned questions.
Thanks and regards