Business Services Industry
Insider Trading Case Triggers Concern about Corporate Governance in Thailand.
Knight Ridder/Tribune Business News, February, 2003
By Charoen Kittikanya, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Feb. 3--The investigation of Roynet Plc for alleged insider trading and disclosure violations has revived worries about local standards of corporate governance.
Gross mismanagement by financial institutions and abuses of power by executives have been blamed for the country's financial crisis in 1997.
Worldwide calls for good corporate governance are growing in the wake of accounting scandals at US giants Enron and Worldcom.
The Roynet case, which is pending investigation by the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand, is a test of measures intended to make directors more accountable.
The Roynet stake...
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