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Bangkok Post

Business

Shares of KBank, SCB plunge amid Stark issues

Stark KBank SCB SET Siam Commercial Bank Stark Corporation

Shares of STARK have been suspended by the SET since March 1 after the company failed to submit financial statements for 2022.

Shares of Kasikornbank (KBANK) and Siam Commercial Bank (SCB) fell sharply on Thursday as investors were concerned that Stark Corporation (STARK) may default on loan payments with both banks, say analysts.

Stark, a holding company with subsidiaries involved in cable manufacturing and logistics, informed the Stock Exchange of Thailand (SET) on Wednesday it needs to "delay the submission of the consolidated and separated financial statements" for 2022 from the end of the reporting period on April 21.

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