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BANGKOK AIRWAYS

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Bangkok Airways PCL : Thai tycoon resigns from Bangkok Dusit, Bangkok Airways after regulator's order

01/21/2019 | 12:03am EDT
Bangkok Airways logo at Suvarnabhumi International Airport in Bangkok

BANGKOK (Reuters) - Thai tycoon Prasert Prasarttong-osoth resigned on Monday as CEO of Bangkok Dusit Medical Services and Bangkok Airways after the regulator barred him from holding executive positions in listed Thai firms citing share manipulation.

Prasert also stepped down as chairman of Bangkok Dusit, Thailand's largest hospital network, and vice chairman of Bangkok Airways, the companies said in separate statements.

Late on Friday, the Securities and Exchange Commission of Thailand said Prasert, his daughter Poramaporn and another executive Narumon Chainaknan executed and matched trading in Bangkok Airways shares between Nov 2015 and Jan 2016 that caused price and volume to be inconsistent with market conditions.

They were fined 499.45 million baht ($15.75 million) and barred from holding directorships and executive positions in listed companies. Poramaporn, chief operating officer at Bangkok Dusit, and Narumon, executive secretary to the CEO of Bangkok Airways, also resigned from their positions on Monday.

The accused will "prove their innocence in the matter", the companies said.

Currently, Prasert holds 18.4 percent of Bangkok Dusit and nearly 6 percent in Bangkok Airways, while Poramaporn, has a 6.49 percent stake in the boutique airline, according to Refinitiv data.

Bangkok Airways shares fell more than 5 percent while Bangkok Dusit slid 7 percent on Monday morning.

($1 = 31.7200 baht)

(Reporting by Chayut Setboonsarng; Editing by Muralikumar Anantharaman)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BANGKOK AIRWAYS 2.00% 10.2 End-of-day quote.59.38%
BANGKOK DUSIT MEDICAL SERVICES 0.00%End-of-day quote.0.00%
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Financials
Sales 2021 4 411 M 139 M 139 M
Net income 2021 -2 768 M -87,4 M -87,4 M
Net Debt 2021 4 971 M 157 M 157 M
P/E ratio 2021 -7,76x
Yield 2021 -
Capitalization 19 982 M 630 M 631 M
EV / Sales 2021 5,66x
EV / Sales 2022 1,53x
Nbr of Employees -
Free-Float 35,1%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 9,70 THB
Average target price 8,08 THB
Spread / Average Target -16,8%
EPS Revisions
Managers and Directors
NameTitle
Puttipong Prasarttong-Osoth Vice Chairman, President, CEO & EVP-Operations
Anawat Leelawatwatana Director, Senior VP-Finance & Accounting
Kaset Rochananil Chairman
Pradit Theekakul Director & Executive Vice President-Administration
Sripop Sarasas Independent Director
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