The Securities and Exchange Commission of Thailand today fined Anonchai Veeraprawat Bt500,000 (US$15,000) for manipulating the share price of Singha Paratech. The company, established in 1994, manufactures high-quality instant wood floor plank products under the Singha Parket brand.
Thailand’s The Nation reports that Anonchai was found manipulating the Singha Paratech share price on June 9, 2009, when transaction value and share prices were higher than usual. The irregularity was a result of Anonchai’s transaction orders.
In a separate matter, Olarn Viravan, chairman of Phatra Insurance’s audit committee was fined a similar amount for insider trading in Phatra Insurance. Olarn used inside information on the company’s merger with Muang Thai Insurance for trading during June 2009, less than a week before the information was revealed to the public.