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The Securities and Exchange Commission (SEC) has suspended Tatchapol Rattanaburi, a securities investment consultant for RHB OSK Securities, for failure to keep complete records of trading orders and failure to provide securities trading services to the account owner or submit trading orders of the authorised person.

The SEC and RHB OSK found that Tatchapol submitted a number of securities trading orders in the accounts of several clients. Those orders were submitted without sources and Tatchapol admitted that he took trading orders via mobile phone. In addition, he received the trading orders from one client for another client’s securities trading account without any written authorisation from the account owner. He admitted that both clients were siblings and the account owner asked her brother to submit trading orders without prior written authorisation. Later, the client provided written authorisation allowing her brother to submit trading orders on her behalf.

Tatchapol’s alleged failures mean that he was deemed to have failed to perform duties and was in violation of the Notification of Capital Market Supervisory Board concerning personnel in the capital market. The SEC, therefore, suspended him from duty as the approved securities investment consultant for four months. Having considered that she had already been subject to one-month suspension imposed by her employer, the suspension imposed by the SEC shall remain for three months, effective from today.

Sansiri to form

seven JV firms

Leading property developer Sansiri reported to the Stock Exchange of Thailand yesterday that its board of directors approved in principle the setting up of new joint venture companies with BTS Group Holdings.

These seven new 50:50 joint ventures will be added to two JVs that the two companies have formed earlier as part of their plan to develop new residential projects for sale under the Strategic Alliance Framework Agreement between SIRI and BTS in the next 12 months.

These new residential projects will be located within a 500-meter radius of existing and future rail mass transit stations, said Wanchak Buranasiri, director and chief operating officer of SIRI.

Buhler tops in

rice technology

Capitalising on the increasing demand for rice in SE Asia, the Buhler Group, a leader in rice processing and optical sorting solutions has reaffirmed its position as the first choice technology partner for rice processing and reprocessing across South East Asia with orders in excess of US$100 million (Bt3.34 trillion).

Buhler's renewed strategic focus across SE Asia marks a significant 24 months in the company's continuing expansion in rice processing as well as consolidating its global position as processing technology partner of choice in all of the world's most important rice producing markets. The company has been awarded major contracts by the largest rice processors and reprocessors across Thailand, Cambodia, Indonesia, Vietnam, Philippines, Malaysia and Myanmar – including Merry Rice, Crystal Rice, Siam Parboiled and TPS Group – to increase the cost effectiveness and environmental efficiency of its rice processing lines.