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South Korea's Samsung Engineering says it has received a $1.1bn (£0.54bn) order from Thailand's PTT Public Company to build two gas plants.
The ethane and gas separation plants will be built in Map Ta Phut, and each have a capacity of 800 million standard cubic feet per day.
BBC NEWS | Business | Samsung wins $1.1bn Thailand deal
I read last week that the Samsung CEO for Thailand had been arrested because they owed a bucket of money
Samsung executives deny all allegations
Koreans to co-operate fully with police
KOMSAN TORTERMVASANA
The Korean executives of Thai Samsung Electronics yesterday strongly defended themselves against fraud accusations by the company's mobile phone distributors, saying they operated in Thailand with high ethics and always looked out for customers and trading partners.
Thai Samsung managing director Kwang Ki Park also expressed regret over the incident that he said had confused its consumers and business partners. He pledged to co-operate fully with police in bringing the truth to the public.
The defence from the Korean executives came after its main distributor, Sam Corporation, a subsidiary of SET-listed TWZ Corporation, filed fraud charges last week against Mr Park and Thai Samsung general manager Chung Jun Kim.
But at yesterday's brief press conference, Mr Park denied all the charges.
Samsung was accused of selling old models of mobile phones to Sam Corp and providing no marketing support. Sam Corp claims it suffered losses totalling 63 million baht.
In the last few days, Mr Park said, he had received hundreds of short messages from friends and acquaintances inquiring about the news, and he regretted the confusion.
He said he would continue working in Thailand with a high level of ethics. He refused to answer questions when he finished his statement, but left his Thai deputy to field questions.
Thai Samsung deputy managing director Anat Jangtrakul said accusations that the company sold old phone models to its distributor were untrue.
In the mobile phone industry, the parent firm does not hold stock but produces according to orders from around the world. Distributors help select phone models, patterns and colours before the phones are produced and delivered to them.
Discussing the US$1 million worth of marketing support that Sam Corporation claimed it did not receive, Mr Anat said Samsung was ready to provide the money only once Sam provided documentation on its past sales, new orders and inventory levels.
''If Sam Corporation has such evidence to show the movement of the stocks it held, then Thai Samsung has no reason to reject the support,'' he said.
Thai Samsung spent more than 150 million baht on marketing, recently, launching a major campaign featuring the Korean superstar Rain, Mr Anat said.
He also dismissed accusations that Mr Park had no authority to appoint distributors. The managing director was appointed by headquarters and has full authority to appoint and remove distributors, he said.
''We have been in the Thai market for over 18 years with a strong customer base and brand name,'' Mr Anat said, adding that these misunderstandings should be settled peacefully with talks.
The parent firm was also concerned about the dispute and hoped to find a resolution soon, he added.
Koreans. Ethics.Quote:
Originally Posted by William
I'm confused. :confused: