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Thai SEC Fines Businessman for Manipulating Agricultural Firm's Stock Prices.

Bangkok Post (Bangkok, Thailand)

| November 02, 2002 | COPYRIGHT 2002 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Nov. 2--The Securities and Exchange Commission yesterday announced fines of 1.2 million baht against Trairat Damneoncharnvitkul for price manipulation of shares of listed paper producer Advance Agro Plc.

Four companies held by the Damneoncharnvitkul family under the Soon Hua Seng Group -- Si Racha Silo Co, Soon Hua Seng Co, Well Development Group and Soon Hua Seng Rice -- were also fined 500,000 baht each for manipulating prices of Advance Agro.

Soon Hua Seng, one of the country's largest agribusiness groups, is a major shareholder of Advance Agro.

The SEC said Mr Trairat and the four companies violated sections 243 and 244 of the SEC Act as ...

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Source: HighBeam Research, Thai SEC Fines Businessman for Manipulating Agricultural Firm's Stock...