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Picnic denies ties with three firms.
Byline: Nuntawun Polkuamdee
Sep. 8--Picnic Corp has insisted it has no shareholder relationship with three companies singled out by regulators for clarification of past financial transactions with the listed cooking gas company.
The Stock Exchange of Thailand earlier directed Picnic to clear up or explain transactions in the company's financial statements for 2004 and the first half of 2005. At issue were JJ Land, Sun City Country Club and Saengthongthai Bucket Manufacturing Co.
The three companies have connections to each other. Chalermchai Bubbha is the major shareholder of all three.
Picnic yesterday said transactions with all three ...
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