Bangkok, 11 April 2024 – The Securities and Exchange Commission (SEC) would like to inform the public that the public prosecutor has brought action to the Criminal Court* against seven entities who have been imposed with a criminal complaint and subsequently an asset attachment in the case of Stark Corporation Public Company Limited (STARK). The seven entities are: (1) STARK, (2) Mr. Vonnarat Tangkaravakoon, (3) Mr. Sathar Chantrasettalead, (4) Mr. Kittisak Jitprasertngam, (5) Thai Cable International Company Limited (TCI), (6) Adisorn Songkhla Company Limited, and (7) Asia Pacific Drilling Engineering Company Limited. Consequently, pursuant to Section 267 of the Securities and Exchange Act B.E. 2535 (1992), the asset attachment order remains effective under the court orders otherwise.**

Mr. Anak Yooyuen, SEC Deputy Secretary-General and Spokesperson, said: “The SEC has continuously enforced the law, as authorized, to bring offenders to justice. The asset attachment is a measure to prevent the offenders from transferring or disposing of assets. The SEC will continue to monitor the progress of this case and coordinate with relevant agencies to prosecute to the fullest extent, in order to support the strict enforcement of the Securities and Exchange Act."

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Remarks: 

* Undecided Case No. Or. 90/2024 and Undecided Case No. Or. 441/2024

** Relevant news: 

1. SEC News No. 117/2023 headlined: “SEC orders asset attachment and temporarily prohibits 10 offenders in STARK case from traveling out of the country,” released on 6 July 2023: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10737&NewsNo=117&NewsYear=2023&Lang=EN. 

2. SEC News No. 262/2023 headline: “Criminal Court orders extension of the asset attachment period imposed on nine entities under the criminal complaint in the STARK case,” released on 27 December 2023: https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=10394