ACE Hits the Floor after “Prayut” Executes an Immediate Order to Transfer “Wirachai”

The share price Absolute Clean Energy Public Company Limited (ACE) hit the floor in the morning session on January 24, 2020, plunged ฿1.28/share or 29.63% to ฿3.04/share.

On December 16, 2019, ACE made an announcement, stating that due to the delay of approval from the Environmental Impact Assessment (EIA), ACE missed the scheduled timeline to sign the Power Purchase Agreement (PPA) with the Electricity Generating Authority of Thailand (EGAT) for its four SPP Hybrid Firm Power Plant Projects with a total installed power generation capacity of 93 MW.

ACE’s share price fell two-day straight by 7.88%, but being able to regain its stance afterward.

 

Earlier today, the reporter has stated that Thailand’s Prime Minister General Prayut Chan-o-cha has executed the order to “transfer” Police Lieutenant Colonel Wirachai Songmetta from the position of the Deputy Commissioner of the National Police to perform civil service at the Office of the Prime Minister.

The report states that PLTCOL Wirachai has behavior and action that affect citizens’ confidence regarding his justice duty. Currently, the Royal Thai Police has set up a committee to investigate the truth regarding the aforementioned matter.