Bangkok:Bangchak Corporation Public Company Limited has announced that the "stock freeze" applies solely to specific shareholders and is unrelated to the company’s business operations or remaining shares. This follows the government's update on a money laundering investigation.
According to Thai News Agency, a joint press conference on October 27, 2026, by the Securities and Exchange Commission of Thailand (SEC), the Economic Crime Suppression Division (ECSD), and the Anti-Money Laundering Office (AMLO) highlighted progress in actions against a transnational money laundering network.
Bangchak Corporation emphasized that the seizure of certain shares since December 3, 2025, is a government action targeting specific shareholders. The company clarified that its operations and assets are distinct from the case, with the seized shares under AMLO's supervision. The corporation stated that the remaining shares are not linked to the alleged activities.
In response, Bangchak has established a special committee to safeguard its interests and those of its shareholders. The director representing the affected shareholders has abstained from board meetings and duties since the freeze, maintaining directorship without legal disqualification but lacking authority to sign agreements since December 11, 2025.
During the Annual General Meeting on April 10, 2026, proposed amendments to director qualifications aimed at enhancing governance and reducing risks failed to pass due to insufficient votes. A related lawsuit is under court consideration. Bangchak continues to manage risks in line with legal and regulatory standards.
The corporation remains committed to collaborating with regulatory bodies, ensuring compliance with laws and corporate governance to protect long-term interests and investor rights.