Dear Tip,
I strongly recommend PJT pay at least USD1.1 mil instead of USD0.5 mil to IRIS by end of this month. Holding Company cannot afford to top up any shortfall for PJT due to our heavy bank commitments in these two months. Furthermore, Standard Chartered Bank intends to proceed the mandatory prepayment clause by requesting PJT transfer the sale proceeds of Amata Plant as an early prepayment of Phuket Term Loan, please find attached the email from SCB regarding this matter for your reference. It is therefore, if you don’t transfer the shortfall to IRIS, the balance sum may still go to SCB for early settlement of the Phuket Term Loan as per the Phuket Facility Agreement.
I have yet to receive the PV from you. Can we get another bank authorizer in IRIS (either Michael Eow or Mr. Su) to sign the PV and Remittance Advice since Mr. Wuthikorn still on vacation? So that the balance sum can be transferred to IRIS by beginning of next week. In the interest of time and avoid the mandatory prepayment clause, please send the shortfall money direct to IRIS’s bank account, please find below the bank details for your onwards action.