Thailand Securities & Exchange Commission imposed civil sanctions on three individuals for purchasing AAPICO Hitech Public Company Limited (AH) shares while in possession of inside information, including collusive trading by two of the offenders. The Civil Sanction Committee ordered total payments of THB 7,167,579 and barred the individuals from serving as directors or executives of securities-issuing companies or securities companies for specified periods. The action followed a 2023 referral from the Stock Exchange of Thailand and relates to trading between 3 and 14 November 2022, before AH disclosed its third-quarter 2022 results through the exchange on 14 November 2022 at 18:03. The inside information concerned AH’s Q3 2022 net profit of THB 600.68 million, described as a significant quarter-on-quarter and year-on-year increase that positively impacted the share price. Mr Viroj Patcharawattanakul must pay THB 5,168,972 and is barred for 12 months, Mrs Teo Lee Ngo must pay THB 1,302,885 and is barred for 14 months, and Mr Koh Lian King must pay THB 695,722 and is barred for 12 months. The sanctions comprise civil penalties, compensation equal to the benefits received or that would have been received, and reimbursement of the SEC’s investigative expenses. The sanctions take effect once the offenders sign consent letters agreeing to comply. If any offender refuses, the SEC will submit the case to the public prosecutor to seek a Civil Court order for maximum applicable civil sanctions that must not be lower than those specified by the committee, and civil penalties and compensation are to be remitted to the Ministry of Finance as public revenue.

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