The Stock Exchange of Thailand (SET) removes Energy Absolute pcl (EA) from the current SET ESG Ratings list, effective July 15, 2024. This decision follows the Securities and Exchange Commission (SEC)’s allegations against EA's directors and executives to the Department of Special Investigation (DSI) and subsequent referral to the Anti-Money Laundering Office (AMLO) in connection with fraud cases.
The SEC has filed a criminal complaint against Somphote Ahunai and Amorn Sapthaweekul, EA’s directors and executives, along with Phornlert Techarattanopas, with the DSI for allegedly engaging in fraudulent activities to seek undue benefits for themselves and/or others. The case has also been forwarded to the AMLO. Consequently, SET, through the Sustainable Investment (SET ESG Ratings) Committee, has decided to remove EA from the current SET ESG Ratings list. The decision was made because the company no longer meets the SET ESG Ratings qualification criteria, which stipulate that “either the company or its directors or executives must not be accused or found guilty by authorities or relevant agencies in matters related to corporate governance, social impact, or environmental impact.”
