SET removes EA shares from SET ESG Ratings

Bangkok, The Stock Exchange of Thailand has removed Energy Absolute Public Company Limited (EA) from the SET ESG Ratings, effective from July 15, 2024. Following the SEC's complaint against the directors and executives of Energy Absolute PCL (EA) to the DSI and forwarding the case to the Anti-Money Laundering Office (AMLO) regarding corruption, the Stock Exchange of Thailand has resolved to remove EA from the SET ESG Ratings list of sustainable stocks, effective from July 15, 2024. As the Securities and Exchange Commission (SEC) has accused Mr. Somporn Ahunai and Mr. Amorn Traiphuwikul, directors and executives of Energy Absolute PCL (EA), including Mr. Pornlert Techaratanopas, to the Department of Special Investigation (DSI) for colluding in corruption to seek undue benefits for themselves and/or others, and has forwarded the case to the Anti-Money Laundering Office (AMLO), the Stock Exchange of Thailand, through the Working Group on Sustainable Investment, has resolved to remove EA from the list of SET E SG Ratings sustainable stocks because the company lacks the qualifications according to the SET ESG Ratings criteria, which stipulates that 'it must not be a company that has been accused or convicted by the government or relevant agencies, or whose directors or executives have been accused or convicted by the government or relevant agencies in matters of corporate governance, creating social or environmental impacts', effective from July 15, 2024. Source: Thai News Agency