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Bangkok Post
Bangkok Post
Business

SMK ordered to prepare rehabilitation plan

SMK OIC Insurance SET
People gather at the Central Bankruptcy Court on May 23 to demand that Syn Mun Kong Insurance pay compensation as stipulated in the firm's insurance policies. (Photo: Apichit Jinakul)

The Office of Insurance Commission (OIC) has ordered SET-listed Syn Mun Kong Insurance (SMK) to rectify its financial position and prepare a rehabilitation plan after the Central Bankruptcy Court ordered the company to undertake rehabilitation and also appointed SMK as a rehabilitation planner.

OIC secretary-general Suttipol Taweechaikarn said the commission is responsible for overseeing SMK's execution of the court order in order to fully protect the rights of the company's policyholders.

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