Sansiri fined over 16 million baht for merger notification failure

MGR Online•Economy•3d ago

Reader Briefing

The Trade Competition Commission has fined Sansiri Public Company Limited and Siri Smart Five Company Limited over 16 million baht for failing to report business mergers within the legally required timeframe.

•The Trade Competition Commission fined Sansiri and Siri Smart Five over 16 million baht.
•The fines stem from failing to notify the commission of two business mergers within 7 days.
•The mergers involved the acquisition of PKL Development and S71 Property.
•Daily fines of 5,000 baht will continue until the notification process is completed.

Overview

•The Trade Competition Commission ordered Sansiri Public Company Limited and Siri Smart Five Company Limited to pay a total fine exceeding 16 million baht.
•Sansiri Public Company Limited and Siri Smart Five Company Limited failed to notify the Trade Competition Commission of business merger results within 7 days as required by law.
•On August 17, 2020, Sansiri Public Company Limited acquired all shares of PKL Development Company Limited, which held land in Patong, Kathu, Phuket.
•On August 31, 2023, Siri Smart Five Company Limited, a subsidiary of Sansiri Public Company Limited, acquired all shares of S71 Property Company Limited.
•The Trade Competition Commission determined the mergers occurred within the same real estate development market with combined revenues exceeding 1,000 million baht.
•The failure to notify is a violation of Section 51 Paragraph 1 of the Trade Competition Act 2017 and the 2018 guidelines.
•According to the Department of Business Development in 2025, the Thai real estate market value exceeded 655,000 million baht, with Sansiri Public Company Limited holding the highest market share.
•Sansiri Public Company Limited and Siri Smart Five Company Limited must pay an additional daily fine of 5,000 baht until the notifications are finalized.

Full article content is available on the original source.

Read on MGR Online (Thai Version)View in Google Translate

Source: MGR Online (Original)

View Original Article

Key Entities

Organization

Trade Competition Commission(คณะกรรมการการแข่งขันทางการค้า)ℹ️

The regulatory body that fined Sansiri for failing to notify business merger results.

Sansiri Public Company Limited(บริษัท แสนสิริ จำกัด (มหาชน))

A real estate developer with the highest market share in Thailand that was fined for not notifying business mergers.

Siri Smart Five Company Limited(บริษัท สิริ สมาร์ท ไฟฟ์ จำกัด)

A subsidiary of Sansiri Public Company Limited that was fined for failing to notify a business merger.

PKL Development Company Limited(บริษัท พีเคแอล ดีเวลลอปเม้นท์ จำกัด)

A company whose shares were acquired by Sansiri Public Company Limited on August 17, 2020.

Siripat Eleven Company Limited(บริษัท สิริพัฒน์ อีเลฟเว่น จำกัด)

The new name of PKL Development Company Limited after the acquisition by Sansiri.

S71 Property Company Limited(บริษัท เอส 71 พร็อพเพอร์ตี้ จำกัด)

A subsidiary of Mankong Keha Karn Public Company Limited acquired by Siri Smart Five Company Limited on August 31, 2023.

Mankong Keha Karn Public Company Limited(บริษัท มั่นคงเคหะการ จำกัด (มหาชน))

The parent company of S71 Property Company Limited.

Department of Business Development, Ministry of Commerce(กรมพัฒนาธุรกิจการค้า กระทรวงพาณิชย์)

The source of data regarding the Thai real estate market share in 2025.

Supalai Public Company Limited(บริษัท ศุภาลัย จำกัด (มหาชน))

The company ranked second in market share by revenue in 2025.

Land and Houses Public Company Limited(บริษัท แลนด์แอนเฮาส์ จำกัด (มหาชน))

The company ranked third in market share by revenue in 2025.

SC Asset Corporation Public Company Limited(บริษัท เอสซี แอสเสท คอร์ปอเรชั่น จำกัด (มหาชน))

The company ranked fourth in market share by revenue in 2025.

Pruksa Real Estate Public Company Limited(บริษัท พฤกษา เรียลเอสเตท จำกัด (มหาชน))

The company ranked fifth in market share by revenue in 2025.

Place

Patong, Kathu, Phuket(ต.ป่าตอง อ.กะทู้ จ.ภูเก็ต)

The location of the land held by PKL Development Company Limited.

Watthana District, Bangkok(เขตวัฒนา กรุงเทพฯ)ℹ️

The location of the land held by S71 Property Company Limited.

Law

Trade Competition Act 2017(พ.ร.บ.การแข่งขันทางการค้า พ.ศ.2560)

The law under which Sansiri and Siri Smart Five were found in violation for not notifying business mergers.

Policy

Trade Competition Commission Notification on Rules, Procedures and Conditions for Notifying Business Merger Results 2018(ประกาศ กขค. เรื่อง หลักเกณฑ์ วิธีการ และเงื่อนไขการแจ้งผลการรวมธุรกิจ พ.ศ.2561)

The regulatory guidelines regarding the notification of business mergers.