Bangkok, February 21, 2012 ? The SEC has instructed Chonburi Concrete Product Plc. (CCP) to rectify its financial statements for the year 2010 and the third quarter of 2011 which ? as the SEC findings, evidence and the company?s explanations showed ? failed to comply with the generally accepted accounting principles. In November 2010, Chonburi Kanyong Co., Ltd., a CCP subsidiary, sold its premises at the Pattaya branch to a third party at 160 million baht (the price appraised by an independent v...
According to the earlier disclosure made by CPAXT, the company will invest in The Happitat Project through a joint investment in AGP by holding 95 percent of the total issued shares with the total value of 7,970 million baht. Under this joint investment, AGP will hold shares in Happitat at the Forestias Co., Ltd. (HATF), which develops a mixed-use real estate project under the name “The Happitat.” However, the information disclosed by CPAXT may be incomplete or unclear regarding the joint...
Earlier, the SEC filed a criminal complaint against former directors and executives of NUSA with the Department of Special Investigation (DSI)* for colluding to dishonestly purchase a hotel located abroad at a significantly unreasonable price, selling NUSA condominium units at a price lower than the appraised price, and transferring NUSA funds into personal accounts and those of close associates. As a result, NUSA was required to amend its financial statements to ensure disclosure of accurate in...
Bangkok, February 6, 2013 - The SEC has instructed Thai Unique Coil Center Plc., (TUCC) to review and rectify its financial statements for the second and third quarters of 2012. TUCC is required to submit to the SEC and to publicly disclose the rectified financial statements that are reviewed by the auditor by March 8, 2013.Earlier, the SEC found that the company?s management prevented the auditor to obtain sufficient information and audit evidence necessary for reviewing the financial statement...
On 14 ? 15 March 2018, IFEC disclosed via the SET that the company's three directors ? i.e., Mr. Peerathuch Sukapong, Maj. Gen. Chainat Yatshimplee and Mr. Piyapong Wongsuwatana ? had resigned. Later, on 15 March 2018, the Civil Court made a decision to void the resolution of the annual general shareholders? meeting held on 2 May 2017, which has consequently resulted in the cancellation of Mr. Teetiphun Theppadungporn's directorship. Given such circumstances, the SEC views that an immediate arra...
In June 2017, the SEC required EARTH to arrange a special audit on the transactions of the advanced payments for goods and the payment for the right to purchase goods. The EARTH's plan preparer later submitted the special audit report in November 2017, which indicated that EARTH had used the advanced payments, the payment for the right to purchase goods and other assets in exchange for the mining property rights over the two mines in Indonesia, at the total amount of USD731 million.After conside...
SPRC disclosed information via the Stock Exchange of Thailand Information System during 21-26 February 2020 regarding the business email compromise that occurred in late 2019, which resulted in the payment of invoices to an incorrect account. The loss in the email compromise affected significantly the company and the overall shareholders.SEC is of the opinion that the supervision and management of information technology systems as well as the security of the information system is an essen...
On 4 January 2024, MORE sent an invitation to the Extraordinary General Shareholder Meeting No. 1/2567 to the shareholders with the agenda concerning the consideration for approval of a registered capital increase of 1,076.51 million baht (from the existing 358.84 million baht to reach the new amount of 1,435.35 million baht) by issuing additional 21,530,245,323 shares at the price of 0.05 baht per share, to be allocated to the existing shareholders in proportion to their shareholding (right off...
.” ______________________News and relevant laws: - SEC News No. 227/2023: SEC instructs Zipmex to rectify the fund condition and proceed in the best interest of clients, released on 25 November 2023. - Notification of the
Earlier, the Audit Committee of CMO had informed the SEC of the issues raised by the auditor from the audit of the company’s financial statements as follows: an irregular withdrawal of advance payment, a consulting payment without receiving service reports from the contracted party, and the reasonableness of the investment in purchasing additional shares of subsidiaries at the amount of 65 million baht from a juristic person whose shareholders have a close relationship with CMO directors. Such p...