Bangkok, July 18-STARK submits a special investigation progress report. Ready to extend the period for the second time
On July 17, 2023, Stark Corporation Public Company Limited (STARK) submitted a special audit report. (extended-scope special audit) to the Office of the Securities and Exchange Commission (SEC) as requested for an additional period extension. not finished with about 50 – 75 percent of progress in each part
In this regard, STARK informed that due to the SEC's order to freeze the assets of the company and its subsidiaries. This has a significant impact on the normal business operations of the Group. Although the order did not cause the group companies to cease all operations, it caused various other restrictions. Therefore, the company was unable to complete the special audit within July 17, 2023 as instructed by the SEC, therefore requesting to extend the submission period for the audit report to be within September 29, 2023, which The SEC is in the process of considering whether or not to extend the time as requested by STARK and will inform the result later.
In addition, the sequestration of assets in this case The action was undertaken with the approval of the SEC under Section 267 of the Securities and Exchange Act B.E. 2535 (Securities Act). 10 cases, the first batch, to the Department of Special Investigation (DSI) to prosecute the case of refurbishing financial statements. Disclose false statements in the registration statement for the offer for sale of debt securities. and acted with dishonesty and deceit and through such deceit gained property from the deceived people. which fall within the scope of an offense under the Securities and Exchange Act.
Source: Thai News Agency