A Total of 23 Companies Have Received the “C” Sign! Should We Be Worried?

Since the day MPIC took the initiative of receiving a “C” sign from SET, the sign keeps marking on other company’s shares every single day. The signs were given mainly to the company that the shareholders’ equity were 50% less than the paid-up capital according to the financial statements quarter 2 ending 30 June 2018.  As of August 16, 2018, there are a total of 23 shares with the “C” sign.

 

Sign posted on August 17, 2018

1. E FOR L AIM PUBLIC COMPANY LIMITED (EFORL)
2. PACE DEVELOPMENT CORPORATION PUBLIC COMPANY LIMITED (PACE)

 

Sign posted on August 16, 2018

3. APEX DEVELOPMENT PUBLIC COMPANY LIMITED (APEX)
4. AQ ESTATE PUBLIC COMPANY LIMITED (AQ)
5. ASIASOFT CORPORATION PUBLIC COMPANY LIMITED (AS)
6. DIGITAL TECH PLANET PUBLIC COMPANY LIMITED (DIGI)
7. ELECTRONICS INDUSTRY PUBLIC COMPANY LIMITED (EIC)
8. EMC PUBLIC COMPANY LIMITED (EMC)
9. FOOD CAPITALS PUBLIC COMPANY LIMITED (FC)
10. G J STEEL PUBLIC COMPANY LIMITED (GJS)
11. HYDROTEK PUBLIC COMPANY LIMITED (HYDRO)
12. MPG CORPORATION PUBLIC COMPANY LIMITED (MPG)
13. T ENGINEERING CORPORATION PUBLIC COMPANY LIMITED (T)
14. THAI FILM INDUSTRIES PUBLIC COMPANY LIMITED (TFI)
15. THREE SIXTY FIVE PUBLIC COMPANY LIMITED (TSF)
16. UNIQUE MINING SERVICES PUBLIC COMPANY LIMITED (UMS)

 

Sign posted on August 15, 2018

17. NATION BROADCASTING CORPORATION PUBLIC COMPANY LIMITED (NBC)
18. NEWS NETWORK CORPORATION PUBLIC COMPANY LIMITED (NEWS)
19. PREMIER ENTERPRISE PUBLIC COMPANY LIMITED (PE)
20. THE THAI SETAKIJ INSURANCE PUBLIC COMPANY LIMITED (TSI)

 

Sign posted on August 14, 2018

21. NEP REALTY AND INDUSTRY PUBLIC COMPANY LIMITED (NEP)
22. NOK AIRLINES PUBLIC COMPANY LIMITED (NOK)

 

Sign posted on August 10, 2018

23. M PICTURES ENTERTAINMENT PUBLIC COMPANY LIMITED (MPIC)

 

The conditions on receiving the “C” sign are:

1. The shareholders’ equity is less than 50% of paid-up capital deducted by discount on share capital (if any).
2. The financial institutions, securities companies, life insurance or non-life insurance companies have been publicly to rectify financial position or operating result by temporarily discontinuing their partial operation or business expansion which are significant orders.
3. The Securities and Exchange Commission (SEC) has ordered the company to rectify financial statements or arrange a special audit.
4. The auditor’s report issues a disclaimer opinion on the financial statements due to the limitation of reviewing or auditing scope by the company or the committee or the executives
5. The auditor’s issues an adverse opinion on the financial statements.
6. The bankruptcy court has accepted the company rehabilitation petition/ accept the bankruptcy petition.
7. The listed company that has total assets or almost all of its total assets in the form of cash or short-term assets (Cash Company).

 

All shares with a “C” sign will be able to purchase only with Cash Balance (The process will be done through brokers by cash deposit before purchasing.) from the effective date until the problems has been solved.

SET will announce the names of listed companies one day prior to the posting of “C”. Such company has to provide information and plan to resolve the issue within 15 days after the “C” sign has been posted and every quarter until the company can completely rectify their issues. This is in line with general criteria of other alert signs.