PTT, other firms to review ads with Raisom, TV3
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Leading listed companies have said they will follow suggestions by the Securities and Exchange Commission (SEC) last week for cooperation in business dealings with Raisom Co Ltd because of a corruption scandal.
A letter issued by the SEC last Friday asked for cooperation from listed companies doing business with Raisom – a firm owned by controversial TV anchorman Sorrayuth Suthassanachinda. The company has been accused of corruption by the anti-graft body and Anti-Corruption Network.
Prasert Salinla-umpai, vice president of PTT’s corporate communication department, said yesterday the conglomerate had bought airtime directly from Raisom and through its agencies.
“After the expiry date, we are happy to serve the SEC’s policy. In addition, we will instruct our agencies to consider contracts for next year – that they should follow with SEC’s warning as well,” Prasert said.
Sorrayuth’s firm Raisom manages three daily programmes – “Ruang Lao Chao Nee”, “Ruang Den Yen Nee” and “Ruang Lao Sao Athit” on Channel 3. The TV station is operated by the listed company BEC World Plc, which has been under fire – accused of putting profits before ethics, after Raisom was accused recently of graft by the National Anti-Corruption Commis-sion.
Prasert said PTT advertising contracts with Raisom were yearly or six-monthly deals. Its latest contract will expire at the end of December this year.
Other top companies are reconsidering whether to extend contracts with Raisom purchasing airtime next year following the corruption scandal and the SEC’s warning letter that all listed companies should work with “transparent” firms.
A source working for two leading companies that purchased major lots of airtime with Channel 3 said they had also asked their agencies to study the right way to deal with the case and support spending plans for next year. They could not break contracts for this year but had to wait till current deals end in December.
The two companies purchased ads through their agencies and also via BEC Tero Entertainment, which is a subsidiary of Channel 3. The company acts on behalf of customers to purchase airtime and Raisom was one of target for 2012.
Another listed company said it would review its plans to buy ads on TV programmes in line with the SEC advice. However, it could do nothing until contracts signed for the year end. “We can’t stop the contract now as we would have concern about a loss but the contract will be reviewed next year,” a source at the listed company said.
