Shareholder sounds alarm on RML

Quick Summary:

The Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) were requested to look into irregularities at property developer Raimon Land (RML), with a shareholder saying the case could rival the corporate scandals of Stark Corporation and Energy Absolute (EA).

Based on SET filings, Raimon Land booked losses of 718, 453, 315, and 812 million baht from 2020-2023, respectively.

Since the Narongdej family took control of RML five years ago, the company has posted continuous losses with no new projects being launched, said Mr Arthit.

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Article Details

Category: EconomyBusiness

Markets: ThailandSingapore

Topics: Billion Baht Land Increase Million Company Arthit Case Raimon Capital Shareholder

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 04:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 868 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 22220957

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