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...
The SEC’s instruction followed the latest developments within IFEC organization, namely the resolution of IFEC Extraordinary Shareholders’ Meeting No. 1/2561, appointing new directors to fill in the vacancies, the company’s registration of the replacing directors with the registrar at the Department of Business Promotion, the Ministry of Commerce, the registrar’s acceptance of the registration of the six new directors on 8 March 2019, causing the IFEC Board to fully comprise 8 directors,and the...
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
The move follows the Commerce Ministry’s decision today to declare the whole IFEC board of directors consisting of only the three named individuals. On 7 June 2018, the Commerce Ministry’s Business Development Department issued an order rejecting IFEC application to change its directors’ list to register Mr. Wiphu Maharakkakla and Mr. Manusak Deawwanich as two additional directors. The Department’s decision means that the list of IFEC directors as appeared on the company certificate only i...
On 25 December 2023, the SEC issued a letter to NUSA’s Board of Directors regarding their resolution, passed on 7 December 2023, to sell the company’s six assets for a total amount exceeding 11 billion baht, and to authorize NUSA’s Executive Board to consider the sale conditions for each asset. On 28 December 2023, NUSA informed the SEC that the company had not yet entered into any contracts to sell the aforementioned assets and that any future sale of these assets would be executed in complianc...
Bangkok, 26 February 2018 ? The SEC has filed a criminal complaint against Mr. Wichai Thavornwattanayong, former chairman of Inter Far East Energy Corporation Public Company Limited (IFEC), with the Economic Crime Suppression Division (ECSD) on the ground of performing duties dishonestly when he failed to disclose IFEC default on its bills of exchange. In addition, the SEC has instructed IFEC directors and the persons whom IFEC identified as director via the Stock Exchange of Thailand (SET) to s...
On 20 November 2023, JKN submitted information through the SET Electronic Information System regarding an issue where certain board members did not receive the invitation to the Board of Directors meeting for the consideration of the business rehabilitation petition. This incident played a role in the resignation of some JKN directors. In this regard, JKN explained that the decision not to send a formal meeting invitation was prompted by the urgency of the matter. The meeting was therefore condu...