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  1. #1
    Thailand Expat tomcat's Avatar
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    Share Fiddling Uncovered!

    ...I suspect such felonious behavior happens more frequently than is reported in the local press...was this chicanery even noticed by the Post?

    Thai Billionaire Prasert Banned From Positions in Listed Firms
    By Anuchit Nguyen



    Bangkok Airways Pcl Chief Executive Officer Prasert Prasarttong-Osoth has been banned from holding director and executive positions in listed companies in Thailand for manipulating the share price of the airline.

    Civil sanctions have been imposed on Prasert and his daughter, Poramaporn Prasarttong-Osoth, the chief operating officer at Bangkok Dusit Medical Services Pcl, as well as Narumon Chainaknan, the executive secretary in the CEO’s office at Bangkok Airways, the Securities & Exchange Commission said in statement on its website dated Friday.

    They have been ordered to pay a fine of 499 million baht ($15.7 million) for “concealing their trading activities” in
    Bangkok Airways’ shares to mislead the public regarding the carrier’s stock price and volumes, the Thai regulator said. The transactions took place between November 2015 and January 2016, it said.

    Prasert is also the chief executive officer of Bangkok Dusit Medical, the nation’s biggest private hospital operator. He owns an 18.5 percent stake in the medical company valued at $2.1 billion, making him its biggest shareholder, according to data compiled by Bloomberg. He also owns 10.8 percent of Bangkok Airways.

    Nobody picked up calls to the investor relations departments of Bangkok Airways and Bangkok Dusit on Saturday.

    Thai regulators have stepped up oversight of executives at listed firms.

    The SEC will forward the proposed fines to public prosecutors to seek court orders for payment if Prasert and the other two people refuse to comply, it said in the statement.
    Last edited by tomcat; 20-01-2019 at 09:10 AM.
    Majestically enthroned amid the vulgar herd

  2. #2
    ความรู้ลึกลับ HuangLao's Avatar
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    Whatta surprise.
    Corruption at the Thai corporate/govt level.

  3. #3
    Thailand Expat

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    Quote Originally Posted by tomcat View Post
    has been banned from holding director and executive positions in listed companies in Thailand for manipulating the share price of the airline.
    forgot someone's tea money....he'll remember next time

  4. #4
    Thailand Expat tomcat's Avatar
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    Ban on Thai Billionaire Prompts Slump in Top Hospital Operator

    By Randy Thanthong-Knight (Bloomberg)

    Shares of Thailand’s top hospital operator by market value and its No. 2 airline sank after the resignation of their billionaire founder, who was
    banned by the country’s securities regulator for share-price manipulation.


    Bangkok Dusit Medical Services Pcl plunged as much as 8.1 percent to its lowest intraday price since February. Bangkok Airways Pcl lost as much as 7.9 percent, the most since June.

    Prasert Prasarttong-Osoth, who was chief executive officer of Bangkok Dusit Medical and Bangkok Airways, and his daughter Poramaporn Prasarttong-Osoth, chief operating officer of the hospital operator, have tendered their resignations effective Jan. 21, according to statements released Monday by the two companies.

    The Thai Securities & Exchange Commission banned them and Narumon Chainaknan, the executive secretary in the CEO’s office at Bangkok Airways, from holding director and executive positions in listed Thai firms and imposed civil sanctions on them for manipulating the airline’s stock price in transactions from November 2015 to January 2016.

    The regulator fined the trio a cumulative 499 million baht ($15.7 million) for “concealing their trading activities” to mislead the public on stock price and volumes. All three will seek to prove their innocence through the justice system, according to the company statements released Monday.

    Prasert owns an
    18.5 percent stake in the medical company valued at $2.1 billion, making him its biggest shareholder, according to data compiled by Bloomberg. He holds 10.8 percent of Bangkok Airways.

  5. #5
    lom
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    Thailand Expat lom's Avatar
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    The tree can never get enough water...

  6. #6
    Thailand Expat tomcat's Avatar
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    Quote Originally Posted by lom View Post
    The tree can never get enough water...
    ...akin to the tree of liberty then: never gets enough blood...still, I don't know why the authorities are making such a fuss over misdeeds of one of their own...it's not like he borrowed watches and kept them...

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