Energy Absolute Proposes Debt-to-Equity Swap for Thai Smile Bus
Energy Absolute (EA) has announced a plan to convert debts owed by Thai Smile Bus (TSB) into equity to improve financial stability.
On October 29, 2026, the board of directors of Energy Absolute Public Company Limited (EA) approved a proposal to restructure the debt held by Thai Smile Bus (TSB) group. According to a report by Prachachat Business, EA intends to present a debt-to-equity conversion plan to its extraordinary general meeting of shareholders. This strategic move is designed to alleviate the financial burden on TSB, which operates a significant portion of Bangkok's public bus network, and to support the company's long-term recovery and operational sustainability.
For residents and regular commuters in Bangkok, this restructuring is significant as it aims to ensure the continued stability of the Thai Smile Bus service, a key provider of electric public transportation in the capital. By reducing debt obligations, EA hopes to preserve the company's viability and protect shareholder interests. While the board has approved the proposal, the final implementation remains subject to the formal approval of the shareholders during the upcoming extraordinary meeting. Further details regarding the specific terms of the conversion and the timeline for completion have not yet been finalized. Stakeholders are advised to monitor official disclosures from EA for updates on the progress of this financial restructuring plan.
