The SET reminds 16 listed companies, whose financial status have been categorized as possible
delisting in stage 3, to expedite their rehabilitation by March 2016.
The SET reminds 16 listed companies, whose financial status have been categorized as possible
delisting in stage 3, consisting of 2 Groups as follows; Group 1 : The 14 listed companies having
been given an extension period for rehabilitation to avoid delisting with validity until 31 March 2016.
Group 2 : The 2 listed companies being subject to stage 3 possible delisting that need to eliminate
causes of delisting by 31 March 2016 with eligibility to apply for an additional one-year extension
period for rehabilitation. All such listed companies are required to expedite their rehabilitation and
must either submit the application of removal from being delisted or extension for rehabilitation to the
SET within 31 March 2016. If any of the said listed companies fails to comply with The Criteria for
Removal from being Delisted or The Extension Criteria within 31 March 2016, the SET will consider
the withdrawal of their ordinary shares from the stock exchange.
According to procedures and guidelines for the listed companies facing possible delisting due to
operations or financial conditions by virtue of no. 9(6) of the Stock Exchange of Thailand Regulations on
Delisting of Securities, 1999, which comes into effect on January 26, 2011, the listed companies facing
possible delisting due to operations or financial conditions are allowed to undertake rehabilitation for 3
years. However, a listed company under the said category may request for a one-time extension for
rehabilitation not exceeding 1 year if the company is qualified in all stipulated criteria. (The maximum
rehabilitation period must not exceed 4 years.)
During 2011-2015 the SET has continuously announced the names of listed companies, which have been
categorized to rehabilitate their financial status and operational result, in each stage (Stage 1-3) and
each time the SET has also informed for three times to those listed companies and their board members.
As time is now drawing close to the deadline for rehabilitation on 31 March 2016, the SET wishes to
remind all 16 listed companies whose financial status have been categorized as stage 3 and subject to
possible delisting to accelerate to the fulfillment of the following procedures within 31 March 2016.
Group 1 : The 14 listed companies having been given an extension period for rehabilitation to avoid
delisting with validity until 31 March 2016.
In case the company is qualified by The Criteria for Removal from being delisted by the specified
deadline within 31 March 2016. Such listed companies must seek exemption from being delisted by
submission of a written request giving clarification, reasons, or any other supporting information, showing
that the company's financial status and performance have met the criteria for removal from being delisted.
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Group 2 : The 2 listed companies being subject to stage 3 possible delisting that need to eliminate
causes of delisting by 31 March 2016 with eligibility to apply for an additional one-year extension period
for rehabilitation.
2.1) In case, the company is qualified by The Criteria for Removal from being delisted by the specified
deadline within 31 March 2016. Such listed companies may seek exemption from being delisted by
submission of a written request giving clarification, reasons, or any other supporting information, showing
that the company's financial status and performance have met the criteria for removal from being delisted.
2.2) In case the company fails to be qualified by The Criteria for Removal from being Delisted but the
company is qualified by The Extension Criteria. Such listed companies may request for extension of
rehabilitation period by submission of a written request giving clarification, reasons, or any other
supporting information, showing that the company's financial status and performance have fulfilled all
requirements stipulated in the Extension Criteria.
All such listed companies must either submit the application of removal from being delisted or extension
for rehabilitation as the rules prescribed above with the enclosure of financial statements for Year 2015
which are audited by certified auditors and giving clarification, reasons, or any other supporting
information for the SET’s consideration within March 31, 2016. If any of the said listed companies fails to
comply with The Criteria for Removal from being Delisted or The Extension Criteria within 31 March 2016,
the SET will consider the withdrawal of their securities from the stock exchange.
Note: Name of the listed companies whose financial status have been categorized as possible delisting in
stage 3 as attached.
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Attachment
Name of 16 listed companies whose financial status and operational results have been categorized
as possible delisting in stage 3
Group 1 : The 14 listed companies1/ having been given an extension period for rehabilitation to
avoid delisting with validity until 31 March 2016.
No.
Symbol
Full Name
1 APX
APEX DEVELOPMENT PUBLIC COMPANY LIMITED
2 BRC
BANGKOK RUBBER PUBLIC COMPANY LIMITED
2/
3 KTECH
K-TECH CONSTRUCTION PUBLIC COMPANY LIMITED
4 NFC
NFC FERTILIZER PUBLIC COMPANY LIMITED
5 POMPUI
KUANG PEI SAN FOOD PRODUCTS PUBLIC COMPANY LIMITED
2/
6 SAFARI
SAFARI WORLD PUBLIC COMPANY LIMITED
2/
7 SGF
SIAM GENERAL FACTORING PUBLIC COMPANY LIMITED
8 THL
TONGKAH HARBOUR PUBLIC COMPANY LIMITED
9 TPROP
THAI PROPERTY PUBLIC COMPANY LIMITED
10 TT&T
TT&T PUBLIC COMPANY LIMITED
11 VI
VENTURE INCORPORATION PUBLIC COMPANY LIMITED
2/
12 WORLD
WORLD CORPORATION PUBLIC COMPANY LIMITED
13 WP
WP ENERGY PUBLIC COMPANY LIMITED
14 WR
WE RETAIL PUBLIC COMPANY LIMITED
1/
The SET is in process of consideration in case of TRANG SEAFOOD PRODUCTS PUBLIC COMPANY
LIMITED (TRS) which extension period for rehabilitation was due on 31 December 2015. The SET will notify its
resolution onwards.
2/
KTECH, SAFARI, SGF and WORLD have submitted their applications for removal from being delisted to the
SET. The SET is in process of consideration of such applications and will notify its resolution onwards.
Group 2 : The 2 listed companies being subject to stage 3 possible delisting that need to eliminate
causes of delisting by 31 March 2016 with eligibility to apply for a one-year extension period for
rehabilitation.
No.
Symbol
Full Name
1 SCAN
SCAN GLOBAL PUBLIC COMPANY LIMITED
2 SMC
SMC POWER PUBLIC COMPANY LIMITED
The Criteria for Removal from being Delisted
The company which is qualified in all below stipulated criteria can submit an application for delisting
exemption.
1) The firm’s Shareholders’ equity (after adjusted in accordance with the auditor’s opinion) must
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2)
3)
4)
5)
6)
4- Not less than THB 20 million to resume trading on the mai
- Not less than THB 300 million to resume trading on the SET
The firm’s net profit from its core business, which must be ongoing, and have not less than 1 year’ s
continuous operational results under the same group of executives that existed prior to submission of
the application. The SET will consider the company’s status based on the audited annual financial
statements or the audited financial statements for 4 latest consecutive quarters. The following
conditions apply;
- There must be net profit from the most recent year and net profit from the accumulated quarters
in the present year prior to applying to resume trading on the mai.
- There must be net profit of at least THB 30 million from the most recent year and net profit from
the accumulated quarters in the present year prior to applying to resume trading on the SET.
The firm must have successfully restructured over 75% of its total debt.
The firm must have strong financial position and performance on an ongoing basis with sufficient
cash flow.
The company must meet the qualifications for maintaining SET-listed status except for share
distribution; it shall comply with the guidelines for listed firms regarding inadequate distribution to
minority shareholders.
In cases of rehabilitation under the Bankruptcy Act, the court has issued an order ruling that the
company be released from the rehabilitation plan.
The Extension Criteria
The company which is qualified in all below stipulated criteria can submit a request for extension of
rehabilitation period.
1) Having Shareholders’ equity (after adjusted in accordance with the auditor’s opinion) not less than
THB 20 million or showing a net profit from its core business for 1 year.
2) Having a major business that is sustained, as shown from the revenues and assets of its core
operation, licenses or (exclusive) operating rights, etc.
3) Having solid plans to resolve the possible delisting grounds, and implementing its plans.
4) Having met all Securities and Exchange Commission regulations on requirements of company
directors and management and SET regulations on disclosure of information of listed companies.