Bangkok, September 14, 2007 ? The SEC ordered Power Line Engineering Public Company Limited (PLE) to amend its consolidated financial statements for the first and second quarters of 2007. The order was issued after the company?s auditor reported that the said consolidated financial statements did not include the interim financial statements of subsidiary Technor Co., Ltd., which was a case of limiting the reviewing scope by the PLE management and not complying with the generally accepted acc...
Bangkok, November 9, 2011 ? The SEC ordered Tongkah Harbour Plc. (THL) to arrange a special audit with regard to the company?s internal control, appropriateness of connected transactions and asset management, conducted by an SEC-approved auditor working for one of the big four audit firms. The suspicious grounds for such audit are: (1) the placement of THL assets as collateral for stay of legal execution against related company, (2) high-interest rate loan agreement with related company, (3) oth...
Bangkok, August 8, 2013 ? The SEC ordered Millcon Steel Plc. (MILL) to arrange a special audit by either the auditor who audited the company?s 2012 financial statements or any other auditors on the SEC?s approval list who also work for leading auditing firms (big 4). The special audit will cover the transactions with MILL?s business alliances which may be considered as related parties and shares dilution in Million Miles Co., Ltd., formerly a subsidiary of MILL. In this regard, MILL must submit...
Bangkok, November 7, 2006 ? The SEC has issued seven administrative orders today ? one suspension and six probations ? against investor contacts involved in unregulated loans for securities trading
securities companies on account of failing to submit evidence of securities trading orders in the form of recorded tapes of phone conversations with their clients. Pursuant to the SEC Notification
decisions for a client without authorization, sending trading orders from a client?s account to inflate securities prices and the credit line of another client who held the same securities, and intentionally
Bangkok, August 10, 2009 ? The SEC ordered Siam General Factoring Plc. (SGF) to revise its 2009 first quarter financial statements. The SEC had found in SGF?s Q1/2009 financial statements an item on the reversal of allowance for doubtful accounts, which was booked into the company?s revenue in the amount of 10 million baht. Such accounting record is considered inconsistent with the generally accepted accounting standards as, under economic substance view, the loan burden which is transferred...
Bangkok, August 10, 2009 ? The SEC ordered Siam General Factoring Plc. (SGF) to revise its 2009 first quarter financial statements. The SEC had found in SGF?s Q1/2009 financial statements an item on the reversal of allowance for doubtful accounts, which was booked into the company?s revenue in the amount of 10 million baht. Such accounting record is considered inconsistent with the generally accepted accounting standards as, in consideration of economic substance, the loan burden which is trans...