The Thailand Securities and Exchange Commission (SEC) instructed Samchai Steel Industries Public Company Limited (SAM) to expedite submission to the SEC and public disclosure via the Stock Exchange of Thailand’s Electronic Listed Company Information Transmission System (SETLink) of rectified financial statements for 2024 and the second quarter of 2025, and to rectify and submit its third-quarter 2025 financial statements. The required restatements follow special audit findings that identified issues affecting the accuracy of inventory-related accounting records and, for third-quarter 2025, the auditor’s qualified conclusion while management adjusts inventory value to net realizable value as at 31 December 2023. The rectifications must cover affected comparative periods, be audited or reviewed by the auditor (as applicable), and be accompanied by related disclosures to the SEC under Section 56 of the Securities and Exchange Act B.E. 2535 (1992) and public disclosure via SETLink. The SEC noted it had previously required disclosure by 8 December 2025 and granted an extension to 8 January 2026, but rejected SAM’s second request for more time on the basis that SAM had been aware of the issues since July 2025. SAM is expected to file the audited and reviewed rectified financial statements for 2024 and second-quarter 2025 by the existing 8 January 2026 deadline and disclose them without delay, while the reviewed rectified financial statements for third-quarter 2025 and related reports must be filed with the SEC and disclosed via SETLink by 6 February 2026.

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