He said the DSI should be able to arrest the guilty parties within 2 weeks.
The wire and cable manufacturing company, listed on the Stock Exchange of Thailand (SET), is suspected of fraud by its former executives who allegedly tried to hide the company’s accumulated loss during 2021-2022 of 12 billion baht, 4 billion of which is reportedly negative shareholder equity.
The issue came to light after Stark Corporation failed to submit its financial statements within the deadline required by law.
The Securities and Exchange Commission (SEC) had earlier warned that the company was likely to default on five tranches of corporate bonds repayment of nearly 9.2 billion baht, as Stark’s financial statement, finally submitted on June 16, showed it has more liabilities than assets. The SET said Stark Corporation faces a possible delisting.
Suriya said the DSI has been working with the SEC,…
