Finance Minister Arkhom Termpittayapaisith has told the Securities and Exchange Commission (SEC) to take action regarding Stark Corporation's negative shareholder equity to protect investors' interests and build confidence.
He said he spoke to the secretary-general of the SEC regarding the stock problem, asking the regulator to use its available tools to build investor confidence.
"We must find a way to take care of investors, in line with the SEC's role in the development and supervision of the securities market and businesses," said Mr Arkhom.
Last week, he gave a keynote address at an SEC conference on the future of capital markets by highlighting the pivotal role of the International Organization of Securities Commissions in developing internationally recognised standards for securities and futures markets, including emerging capital markets such as crypto asset markets.
These standards could help to protect investors and maintain fair, transparent and efficient global capital markets, said Mr Arkhom.
The Stock Exchange of Thailand (SET) recommends investors trade Stark's securities with caution and carefully study the company's financial statements, the auditor's disclaimer of opinion on its financial statements, the summary of special audit results, and any other information related to Stark.
In compliance with SET regulations on the process for the delisting of securities, the bourse is posting a NC (non-compliance) sign on Stark's securities and announcing they are subject to possible delisting because of negative equity from June 19.
Stark's securities can be traded temporarily between June 1-30, the SET noted.
The SET plans to post a SP (suspension) sign on Stark's securities, with the shares suspended from trading from July 1 until the company is able to dismiss the grounds for delisting and possesses the qualifications for the resumption of trading, according to the bourse.
