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No. 79 / 2009

Wednesday 09 September 2009

Bangkok, September 9, 2009 – The Settlement Committee imposed a total fine of 1,333,333.33 baht (approx. USD37,500) on Anucha Sihanatkathakul, Saksilpa Kongkanon and Chaiwit Chuensirivej for manipulating the share price of Focus Development and Construction Plc. (FOCUS).

An SEC investigation on the trading of FOCUS shares during October 5-29, 2004, right after the securities got listed on the Market for Alternative Investment (mai), revealed that Anucha, who was, at the time, FOCUS Executive Chairman and Vice Chairman of Syrus Securities Plc. (SYRUS), which was FOCUS underwriter, assigned Saksilpa, a SYRUS marketing officer taking care of FOCUS share stabilization at the time, to purchase and sell FOCUS shares through the trading accounts of Chaiwit and other persons in concealment and on a continual basis which misled the public into believing that FOCUS shares were traded in great volume and caused the share price to change inconsistently with the normal market conditions.

Such manipulation is in violation of Sections 243 (1), (2) and 244 of the Securities and Exchange Act B.E. 2535 (1992) (SEA). Anucha and Saksilpa were liable to the penalties under Section 296 of the SEA while Chaiwit, as an aider and abettor, was liable to the penalties under Section 296 of the SEA in conjunction with Section 86 of the Penal Code.

The three alleged offenders agreed to enter into the settlement process. The Settlement Committee, therefore, imposed fines on Anucha and Saksilpa in the amount of 500,000 baht (approx. USD14,000) each and a fine of 333,333.33 baht (approx. USD9,500) on Chaiwit. The misconduct caused Anucha and Saksilpa to have prohibited characteristics of securities company executives/personnel. However, they no longer hold any position in any securities company.

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Remark: Focus Development and Construction Plc. was formerly named Focus Engineering and Construction Plc.


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