272612018 Insider Trading at CP Al: The Undoing ofan Asian Dynasty Insider Trading at CP All: The Undoing of an Asian Dynasty By Lawa Snatn Mar 12018 imate Reading Time: 8 mites Advertisement Itstarted, almost 100 years ago wth a hurble seed ~andhas since groun ino a scandal of such proportion that tosis pall over emerging markets cross Asia. nse tang by executes at one of Thaland’s mast gh brole goups has now become atest case fo corprata governance refoms and ogulatory enforcement inthe region, where my companies ‘remain contol ~ ether wholy on pa by the founding fame. ‘One such dynasty, hace by bllnare Onan Chesravanon,Thaltana’s richest man, today courts among ts asses he Coaroen Pokphan (CP) ‘Group, one of he worl’ largest conglomeraies. The OP Group ln urn conole Tha convenience-steeoperalar CP A (thnk 7-levan Thala), ‘Scuthesst Al’ largest ood retailer by market vale and the subject the sfrementoned scandal ‘There was atime when bsing the fous of global utrage would have been anathema to the CP Group: he your's 1921 and wo brothers, Chia Ex (Char and Siew Whooy, have Just competed he arduous overandjoumey trom ther native Cina to Thallens ‘tara Chearvanont Tallent ices man, co the CP Aner trig Setting in Bangkok's Chirstown, the pac inratiataly sot about transforming the modest shop ~uhich gle sees pote rom tel home cour = ino wha wil become Thalnd's bigest aprcutrl group. From making ail feed andl operating farms peducng plat, coe, lucklngs, hug and a, te brothers vray ino retiing, telocommurications nc real estate, And, a they dora, 80 hay expend .ecnewstoday.com/2016/nsider-trading-cp-undoing-asian-dynastyMaxz258CIExguz 1s2igei2016 Insider Trading at CP All The Undoing af an Asian Dynasty Courtesy Mk eontbatoe nist (PAD: Netepphog the see ol ofhonety sandr epee tre tt Inn inmete sftormath ofthe SEC Ba insider racing lng, CP RPT 2 srsin a cock SUPE =: iA a Seance tat he thee eaesves hed ironed ro worsoha ya ted ace th "mprene ans iia B KY PENI vvcersanceg ottne BACK! GO i Me kok aired ne was unaware that insider tring was legal, sna helpful poled out thatthe fact he bought te stack unde is on name proved tat. CP Al vowed fo strengths is corporat goverance armies and formally admonish the executes, bt stopped sho of ing ‘ham onthe grounds hey ad rack record of eal preci’ Advertisement (otter ores have bean los forgiving. "The case rafts the weaknesses and flaws in business operons which result a aahonast. unethical ane Inmorl image eutined under the Thaland Secures and Exchange Ae! 1902 said the Ant-Corupton Organisation of Thalland (ACT) ina statment released two months afer he executes wore fred," may aso erode confidence in al Tha std companies and weigh on the county's development: Institutional Investors Say ‘No More CP All’ eveven Phot esate eke entrar Kea nein vee vei C Al ptr fhe oe 7 even ‘But could tis cao realy bing Thane tock mak, which analysts hve andy described a one ofthe murkist In Aes crashing tos neas, along with the country’ tugging post-coup ezonemy? htps://aecnewstoday com/20 Binsier-reding-cp-undoing-asian-dynastyiMaxz2SACTExgw2 Is2rearote Insider Trading at GP Al The Undoing of an Asian Dynasty Insider Traders Fined Less Than $10,000 Phot nares SEC Thaled ‘age Siena, SC secre gene elmer inveterate ner the (CP Aine trating cdl ko fale to deta profs made by the perpetrators, whom two Instancoe were fine a to 38 $9,340, raising quostions abut the ‘enforeament of insider Wading roe by Thal authors. “The Asian Corporate Governance Association (ACGA) is & non prof group ‘hat works with Investor, companias and regultes, Secretary genera amie Alen sod ofthe outer: "Ti is unprecedented in Thal eorporate {goverance. ie have not seen domestic nstiuona Investors show ie evel of pub concam beore stout insider rang” ‘Rapes Sucharihu secretany-genera of Thaland's SEC, sto welcomed the outage among investor, describing It as marke frees at work "Enforcorentis vr, vary important. As you krow in this coun, one of te imal criss has aways boon that people with page are able to get ‘09 wy niet hinge.” Thailand Stock Market Suffers From CP All Insider Trading (Current regulations alw the SEC to impose criminal charges, the most common pony being a fine, Those wre can't pay andlor re vce in ‘mote serious eates ar handed ver othe poles for urharinvestgaton and aco pison sentence of upto Wo yours Statics for 2000 to 2015 show tat out of 4 cases of ner trading, ‘ght criminal comps were mad. Two resulted in conte, and one Ina jatterm, sistant secretary general Waratya Stimachand has sid he watchdog willaunch acter ell penalties for inaderwazing in ‘Thalland by the end ofthis yea. Under he new regulon, perpetrators could be fred, banned fom stock tang or temove rom execu postions i Istad companies. Until tougher sanctions ae enacted and, ultima, efored —ovestors ‘and ansiyst worn hat he The tock marke Wl continua outer, [According o& report by he ACGA, corporate governance at Asian ‘companies slpped between 2010 and 2014 ater steady inproversent sno ‘he 1997-08 fanciers hile some countries, Including Taland, had at fen back. the overt clue wa il awarring fag for nvestors. “This snot only mpacting CP ‘Group, but also te overall Thal ely market” sais Win Phromhaet. chi Invostmentofeer of CiMB.Prnciple Asset Management (CPA), + Investors callfor executive resignations (ikke Asian Review) + That insider trading row ays bare governance concerns (The Financial Times) + Anticorruption body slams CPAM (Bangkok Post) htps:i/aecnewstoday.com/2016insider-rading-cp-undoing-asian-dynastyMaxz2SOCtExguz 55