SET slaps warning on Stark shares

The Stock Exchange of Thailand (SET) plans to assign the “C” (caution) sign to shares of Stark Corporation today after the Securities and Exchange Commission (SEC) ordered the company to clarify its financial data within seven days.

The SET said on its website on Thursday the C sign will be posted on Stark shares today because “the SEC has notified the company to arrange a special audit”.

Securities with a caution sign must be purchased from a cash balance account and each SET member must ensure its customers pay the full amount in cash prior to trading for as long as a C sign is posted, according to the SET statement.

On Wednesday the SEC ordered Stark to clarify facts and progress regarding various operations, including arranging a special audit, especially for sales, accounts receivable and other related accounts, and money transfers among its group of…