TCCT fines Sansiri 16M baht for undisclosed mergers

Thansettakij•Economy•2d ago

Reader Briefing

The Trade Competition Commission of Thailand fined Sansiri and its subsidiaries over 16 million baht for failing to report business mergers.

•The Trade Competition Commission of Thailand (TCCT) imposed a total fine of over 16 million baht on Sansiri and its subsidiaries.
•The penalty resulted from the acquisition of two companies holding land in Phuket and Bangkok without notifying the TCCT within 7 days.
•The mergers fell under the criteria of real estate development markets with combined revenues exceeding 1,000 million baht.
•A daily fine of 5,000 baht will be applied until the notification process is completed.

•The Trade Competition Commission of Thailand (TCCT) resolved to fine Sansiri and its subsidiaries over 16 million baht.
•Sansiri and its subsidiaries acquired shares in two companies holding land in Phuket and Bangkok but did not notify the TCCT within the legally required 7 days.
•The business mergers in the real estate development market involved combined revenues exceeding 1,000 million baht.
•No operator in the market, including those with revenues in the tens of billions of baht, is currently classified as having a dominant market position under the Trade Competition Act 2017.
•The TCCT imposed an additional daily fine of 5,000 baht until the notification process is completed.
•The TCCT requires strict compliance with notification procedures to systematically monitor and evaluate the impact on market competition.

Full article content is available on the original source.

Trade Competition Commission of Thailand(คณะกรรมการแข่งขันทางการค้า)ℹ️

The regulatory body that imposed fines on Sansiri for failing to notify business mergers.

Sansiri(แสนสิริ)ℹ️

A real estate operator and its subsidiaries that were fined for not reporting the acquisition of land-holding companies.

Phuket(ภูเก็ต)ℹ️

A location where one of the acquired companies holds land.

Bangkok(กรุงเทพฯ)ℹ️

A location where one of the acquired companies holds land.

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

The law used to determine market dominant positions and regulate business competition.