Shareholders Demand DSI Probe BCPG Oil Depot Deal

Khaosod•Society•1h ago

Reader Briefing

Shareholders are urging the Department of Special Investigation (DSI) to examine BCPG's acquisition of an oil depot for 9 billion baht, alleging it's significantly overpriced and may involve fund siphoning.

•Shareholders are petitioning the DSI to investigate BCPG's 9 billion baht purchase of an oil depot.
•The acquisition is alleged to be overpriced, with the asset's book value significantly lower at 6.55 billion baht.
•Concerns have been raised about potential fund siphoning and the formation of a criminal organization.
•Previous offers for a similar asset in 2010 were around 3 billion baht, highlighting the disparity.

Overview

•Shareholders are concerned that BCPG's purchase of an oil depot may be significantly overpriced compared to its book value.
•The oil depot was purchased for 9,000 million baht, while its book value is reported as 6,550 million baht.
•The significant price difference of 2,450 million baht between the purchase price and book value has raised suspicions.
•Prior to this transaction, an offer in 2010 (2010) to sell a similar asset to BCP was only 3,000 million baht.
•On December 30, 2022 (2022), BCPG proceeded with the 9,000 million baht purchase of the oil depot.
•Shareholders are requesting the DSI to investigate the entire transaction process, including pricing, approval, and payment.
•Shareholders fear potential financial losses and damage to the capital market due to the alleged overpriced transaction.
•The DSI is urged to expedite the investigation and prosecute if wrongdoing is found, to protect shareholder interests and market credibility.

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Key Quotes

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"9 billion baht is excessively high after finding that the book value of assets is only 6.55 billion baht, fearing siphoning of funds."

9,000 ล้านบาท แพงเกินจริง หลังพบมูลค่าทรัพย์สินในบัญชีมีแค่ 6,550 ล้านบาท หวั่นไซฟ่อนเงิน

N/A

"The book value of assets is only approximately 6.55 billion baht, making the sale overpriced and potentially harming shareholders."

มูลค่าทรัพย์สินทางบัญชีมีเพียงประมาณ 6,550 ล้านบาท เป็นการซื้อขายที่แพงเกินจริง ทำให้ผู้ถือหุ้นเสียหายหรือไม่

N/A

"Actions were taken or conspired to inflate the value of assets to be traded, making them appear artificially overpriced."

มีการกระทำหรือร่วมกันกระทำการในลักษณะสมคบกันเพื่อสร้างมูลค่าทรัพย์สินที่จะซื้อขายให้มีมูลค่าสูงเกินจริง

N/A

"A criminal organization is siphoning shareholder funds from BCP and BCPG, operating with a shared plan and divided roles."

ขบวนการไซฟ่อนเงินผู้ถือหุ้นออกจาก BCP และ BCPG อันเข้าลักษณะองค์กรอาชญากรรมที่วางแผนร่วมกัน แบ่งหน้าที่กันทำ

Key Entities

Organization

BCPG

The organization whose acquisition of an oil depot is under scrutiny by shareholders.

DSI(ดีเอสไอ)ℹ️

The Department of Special Investigation, the agency petitioned by shareholders to investigate the BCPG oil depot purchase.

Anti-Money Laundering Office (AMLO)(ปปง.)ℹ️

The agency responsible for receiving suspicious transaction reports related to money laundering.

BCP

An organization from which shareholder funds are allegedly being siphoned, in relation to the BCPG transaction.

Person

Shareholders(ผู้ถือหุ้น)

The individuals lodging a complaint with the DSI regarding BCPG's oil depot acquisition.

Police Lieutenant Colonel Woranan Sri-lum(พ.ต.ต.วรณัน ศรีล้ำ)

The Director of the Consumer Protection Case Division and spokesperson for the DSI, who received the complaint.

Mr. Disadet(นายดิษเดช)

A representative or spokesperson for the complaining shareholders who provided details of the complaint.

Place

Phetchaburi oil depot(คลังน้ำมันเพชรบุรี)

The oil depot that BCPG is accused of purchasing at an inflated price.

Law

Special Investigation Act B.E. 2004 (2004)(พ.ร.บ.การสอบสวนคดีพิเศษ พ.ศ. 2004)

The legal framework under which the DSI is being asked to conduct its investigation.