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

Reuters

BANGKOK, Jan 21 () - 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.

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)


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