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'Suphanut' Files SEC Complaint Against Overpricing Firm

'Suphanut' Files SEC Complaint Against Overpricing Firm

Khaosod•Politics•1d ago

Reader Briefing

A prospective MP has filed a complaint with the SEC against firms accused of inflating property valuations, leading to financial losses for the Social Security Fund.

  • •Suphanut Meenchaiyanant, a prospective MP for Bangkok, has lodged a formal complaint with the Securities and Exchange Commission (SEC).
  • •The complaint targets MFC, Edmund Tie, and CPM Capital for allegedly overvaluing the SKYY9 building and associated land, causing losses to the Social Security Fund (SSF).
  • •Specific allegations include inflated land and building valuations and the provision of false information regarding the building's 'Green Building' certification.

Overview

  • •On February 16, 2026, Suphanut Meenchaiyanant submitted a complaint to the SEC.
  • •Suphanut Meenchaiyanant filed a complaint with the SEC against MFC, Edmund Tie, and CPM Capital.
  • •The complaint was filed due to alleged inappropriate real estate appraisals exceeding market prices and providing false information to the Social Security Fund.
  • •The SKYY9 building and land were allegedly overvalued by 50-100% for the land and significantly above the Ministry of Interior's estimated value for the building, which should not exceed 3,500 million baht.
  • •The Social Security Fund and its insured individuals have suffered losses due to the alleged overvaluations and false information.
  • •Suphanut Meenchaiyanant stated that the appraisal of the SKYY9 building and land was significantly higher than actual market values.
  • •The complaint includes allegations of providing false information about the SKYY9 building possessing a 'Gold' TREES certificate, resulting in a higher valuation.
  • •The complaint also references an alleged overvaluation of the Swissotel Ratchada hotel at 6,000 million baht in '65, while AWC purchased it for only 4,415 million baht in '68, causing potential damage to the SSF as the client.

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Key Quotes

Supanut Meenchaiyanant
"Submitted to the Securities and Exchange Commission (SEC) for investigation and consideration to revoke licenses and prosecute MFC Fund Management and appraisal firms Edmund Tie and CPM Capital for inappropriate real estate appraisals exceeding market prices."
ยื่น สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ (ก.ล.ต.) ให้ตรวจสอบและพิจารณาเพิกถอนใบอนุญาตและดำเนินคดี ต่อบริษัทจัดการกองทุน MFC และบริษัทประเมิน Edmund Tie และ CPM Capital กรณีจัดทำข้อมูลราคาราคาประเมินอสังหาฯที่ไม่เหมาะสมสูงกว่าราคาตลาด
Supanut Meenchaiyanant
"But the SEC has ignored it, not taking action against fund executives, sellers, and appraisal firms. Therefore, I appeal to the SEC to revoke professional licenses and prosecute related companies."
แต่ ก.ล.ต. ยังเพิกเฉยไม่ดำเนินการลงโทษผู้บริหารกองทุน ผู้เสนอขาย และบริษัทประเมิน จึงร้องต่อ ก.ล.ต. ให้ดำเนินการเพิกถอนใบอนุญาตวิชาชีพและดำเนินคดีต่อบริษัทที่เกี่ยวข้อง
Supanut Meenchaiyanant
"If the SEC continues to ignore and not manage these companies, I will have to proceed with legal action against the SEC."
ทั้งนี้ถ้า ก.ล.ต. ยังเพิกเฉยไม่จัดการบริษัทเหล่านี้ ผมจำเป็นต้องยื่นเอาผิดกับ ก.ล.ต. ต่อไปครับ

Key Entities

Person

Suphanut(ศุภณัฐ)
Prospective MP for Bangkok from the Pheu Thai Party who filed a complaint with the SEC.

Organization

SEC(ก.ล.ต.)ℹ️
The Securities and Exchange Commission, the regulatory body to which the complaint was submitted.
MFC
A fund management company accused of participating in the alleged overvaluation of the SKYY9 building.
Edmund Tie
An appraisal firm accused of overvaluing the SKYY9 building and its land.
CPM Capital
An appraisal firm accused of overvaluing the SKYY9 building and its land.
Social Security Fund(กองทุนประกันสังคม)ℹ️
The fund allegedly harmed by the overvaluation of the SKYY9 building and other properties.
Ministry of Interior(มหาดไทย)ℹ️
The government ministry that reportedly determined the appropriate value of the SKYY9 building.
AWC
The company that purchased the Swissotel Ratchada Hotel in '68.

Place

SKYY9 Building(ตึก SKYY9)
A building that is the subject of an alleged overvaluation complaint.
Swissotel Ratchada Hotel(โรงแรม Swissotel รัชดา)
A hotel whose valuation in '65 is alleged to have been inflated, with a subsequent sale price in '68 being significantly lower.