A major property developer has informed the Stock Exchange of Thailand that it has defaulted on 10.65 million baht in interest payments on a tranche of bonds, raising concerns about its ability to repay debentures of 1.2 billion baht due this year.

Investors should beware of concentrating their investments in the bond issues of only a few giant corporates as this could expose them to risks, Tada Phutthitada, president of the Thai Bond Market Association (ThaiBMA), warned on Friday (October 11) in what was perceived as a reference to issues by CP Group and Thai Beverage.