Sino-Thai stresses transparency in wake of alleged bribery

By THE NATION

 

 

Sino-Thai Engineering and Construction Plc has affirmed that the company always conducts business in accordance with the principles of good governance and will never involve or support any form of corruption.

 

The company filed this statement to the Stock Exchange of Thailand today (November 13) in response to reports that the National Anti-Corruption Commission had accused the company and some persons in the company's senior management of abetting in a criminal offence of bribing government officials in exchange for allowing a ship transporting construction equipment parts from abroad to enter a harbour.

 

It added that the company has very strict measures in place to prevent corruption within the organisation in accordance with the principles of good corporate governance. Thus, all investors can be confident of the business operation of the company.

 

"The company firmly believe that it can provide explanations and evidences in defence of the allegation".

 

"In this regard, the company also want to inform everyone that the accusation in the press stemmed from an initial investigation. It is not clear whether the company was a participant in any wrongdoing or not at all. Pending a court judgement, the company is still deemed innocent".

 

"If anyone misrepresents or spreads the false news that the company has violated the law or involved in any kind of bribing act, the company will take legal action against such a person".

 

Source: https://www.nationthailand.com/news/30378316

 

-- © Copyright The Nation Thailand 2019-11-14

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NACC deems govt officials guilty over power plant bribery

By The Nation

 

There are grounds to believe that four government officials accepted a Bt20-million bribe from the Japanese firm awarded the contract to build a power plant in Nakhon Si Thammarat, Worawit Sukboon, secretary-general of the National Anti-Corruption Commission (NACC), said on Wednesday (November 13).

 

Full story: https://forum.thaivisa.com/topic/1133821-nacc-deems-govt-officials-guilty-over-power-plant-bribery/

 

 

12 minutes ago, webfact said:

There are grounds to believe that four government officials accepted a Bt20-million bribe

Business as usual then, happens every day,

loose lips sink ships!

Move along. Nothing to see here.

There is no corruption in Thailand.

Corruption, to a major corporation, is what their lawyers say it is.

5 hours ago, webfact said:

It added that the company has very strict measures in place to prevent corruption within the organisation in accordance with the principles of good corporate governance.

Let's put this issue partially at rest with a Thai law that no Thai registered company with the Thai SEC doing business in Thailand shall allow any company shares to be owned by a foreign state-owned enterprise, ie., China, or its nominees (aka "cutouts"). 

6 hours ago, webfact said:

Sino-Thai Engineering and Construction Plc has affirmed that the company always conducts business in accordance with the principles of good governance and will never involve or support any form of corruption.

Company speech.

6 hours ago, webfact said:

There are grounds to believe that four government officials accepted a Bt20-million bribe from the Japanese firm awarded the contract to build a power plant in Nakhon Si Thammarat, Worawit Sukboon, secretary-general of the National Anti-Corruption Commission (NACC), said on Wednesday (November 13).

 

Reality.

Well I work in this building, so I'm in the middle of a corruption scandal in disguise, technically speaking,.....