DSI summons SEC, SET officials over Solution Corner

[webfact]

DSI summons SEC, SET officials over Solution Corner
The Nation

BANGKOK: -- The Department of Special Investigation has summoned officials from the Securities and Exchange Commission and the Stock Exchange of Thailand to give statements in relation to stock price manipulation allegations levelled against prominent businessman Chai Bunnag and eight others.

The SEC has alleged that Bunnag and the eight others manipulated software and IT solutions provider Solution Corner (1988) Plc's share price on the Market for Alternative Investment in 2010.

DSI deputy chief Lt-Colonel Wannapong Kacharak yesterday said he had summoned the officials after the agencies filed a complaint with the DSI in September last year.

The agencies alleged they found irregularities in the trading of Solution Corner stock between March 31 to April 29 in 2010, with the suspected transactions constituting 55 per cent of the total Solution Corner stocks traded during that period.

They said the trading by Chai and the eight other shareholders raised the company's price from Bt6.10 on March 30 to Bt7.20 on April 29 - an 18-per-cent increase.

Over the same period, the MAI Index dropped 3.3 per cent.

The SEC and SET claimed the volume of trading during the 18 working days of suspected manipulation compared to the 30 working days prior increased from 660,000 to 2.2 million shares - a 239-per-cent spike.

The only explanation for the price hike was manipulation, they alleged.

Source: http://www.nationmultimedia.com/politics/DSI-summons-SEC-SET-officials-over-Solution-Corner-30251548.html


-- The Nation 2015-01-09

[Thai at Heart]

That's a big name to be dragged in for this.

[SOTIRIOS]

........never enough....

...then again....that was the business climate......do anything you like.....

[IMA_FARANG]

........never enough....

...then again....that was the business climate......do anything you like.....

-----------------------

And it still is.

Anyone who actually believes that the Thai stock market is a fair and honest market is a fool.

It's just that the "elites" have become more sophisticated in hiding their manipulations now than back then.

Now they have computers to help them.

[slapout]

you have those with a poor knowledge of how to monitor a system/trading company, trying to police a organization/company/individuals who have years of experience in working around the legal system. you have to have the brightest, most experienced as well as the best on your team if you expect to win. of course the coaches and the refrees can play a real part in the outcome of the game.

seems like those involved on both sides, just want to watch the game continue, as it has in the past, for the benifet of a few.