Finance Ministry Orders SEC to Probe TRUE Shareholding Amid Confidence Concerns

Post Today•Economy•20d ago

Reader Briefing

Thailand's Finance Ministry has instructed the Securities and Exchange Commission (SEC) to expedite its fact-finding investigation into an individual named Supaporn Pimphong's substantial shareholding in TRUE Corporation, citing concerns over potential impacts on market confidence.

•The Ministry of Finance has ordered the SEC to urgently investigate Supaporn Pimphong's 7.0992% shareholding in TRUE Corporation.
•The investigation aims to ensure transparency and investor confidence in the capital market.
•Concerns include the source of funds and potential nominee shareholding issues.

Overview

•The Ministry of Finance has instructed the Secretary-General of the SEC to urgently follow up and investigate factual details regarding the mentioned case in order to foster transparency in the capital market and build investor confidence.
•The issue involves Supaporn Pimphong appearing on a report of securities acquisition or disposal (Form 246-2) as a shareholder of True Corporation Public Company Limited (TRUE), holding 7.0992% of total shares.
•Society has raised questions about the source of investment funds and whether the shareholding might constitute nominee holding.
•The matter is considered an issue that could affect investor confidence, and it is the SEC's duty to effectively regulate the capital market.
•A source from the Revenue Department stated that solely entering into a high-value share purchase is not a reason for the Revenue Department to immediately investigate the shareholder's tax.
•Taxpayer audits must adhere to legal criteria, requiring reasonable suspicion or identified tax risks.
•Criteria that may lead to tax audits include discrepancies between tax filings and actual facts, abnormal findings from data analysis systems, risky tax refund requests, unusual additional filings, or credible complaint information sufficient for fact-finding.
•If the Revenue Department's data analysis system later detects abnormalities, such as income filed not aligning with financial status or tax data not matching transactions, it may meet the criteria for consideration for audit according to legal procedures.

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Key Entities

Organization

Ministry of Finance(คลัง)ℹ️

Thai government ministry responsible for fiscal policy and financial regulation.

SEC(ก.ล.ต.)ℹ️

Thai regulatory body overseeing the securities and stock exchange markets.

True Corporation Public Company Limited(บริษัท ทรู คอร์ปอเรชั่น จำกัด (มหาชน))ℹ️

A Thai telecommunications company, a subject of investigation due to a significant shareholder's stake.

TRUEℹ️

Abbreviation for True Corporation Public Company Limited.

Revenue Department(กรมสรรพากร)ℹ️

Thai government agency responsible for tax collection and enforcement.

Person

Supaporn Pimphong(สุภาพร พิมพงษ์)

Individual whose shareholding in TRUE Corporation is under investigation by the Ministry of Finance and SEC.

Mr. Ekniti Nitithanprapas(นายเอกนิติ นิติทัณฑ์ประภาศ)

Deputy Prime Minister and Minister of Finance who ordered the SEC to investigate the shareholding.