Publication of the list of people whose assets have been frozen From the sale of 34 shares of More Return Public Company Limited or MORE by the Anti-Money Laundering Office (AMLO), seriously affecting the shares of Tong Hua Public Company Holding Company Limited or TH
Because TH executives and subsidiaries are trapped in the group whose assets have been frozen, which includes Mr Somnuk Kayawatanakit, the chairman of the board. As the number one major shareholder, 24.39% of TH’s shares were subject to asset seizure from the sale of 2 shares, totaling 41.90 million baht.
Tong Hua Capital Co, Ltd was confiscated in the amount of 102.58 million baht and Tong Hua Media Lab Co, Ltd was confiscated in the amount of 27.77 million baht.
TH’s share price sank to the floor or fell to a 30% low as soon as trading opened on Tuesday, November 22nd, closing at 1.78 baht before buying pressure began. until the price stabilizes and closes at 2.22 baht, a decrease of 34 satang
TH stocks have been bad since Monday, November 14th. After the scandalous news, MORE stocks continued to fall in price. and it went down hard since November 17, as if someone knew inside information and sold the stock first
From the closing price of 3.94 baht on November 11, the last one closed at 2.22 baht, a decrease of 1.72 baht or a decrease of 56.34%, which was the result of TH executives and contacts involved in trading MORE shares in the month of November. 10.
Recently, TH announced that Tong Hua Media Lab Co., Ltd., a subsidiary, bought company shares The Million Link Co., Ltd. owner of Miti shares a newspaper, 51% of the registered capital, an amount of 51 million baht.
The Million Link Company and Mr. which affects the price and investment decisions in shares.
Miti Hoon Newspaper interviewed Mr. Amrit Lull Chit Charoen or Sia Mo after the news referred to Sia Mo In the case of stock trading MORE by opening a platform for the risk to fully defend various claims
However, TH is associated with MORE unusual stock trading orders, participating in the creation of hidden behavior. To pump money from brokerage firms? The results of the police investigation will have to be awaited.
But TH executives and subsidiaries ordered by the AMLO to freeze assets It inevitably affects investor confidence. Until there is panic and the stock is sold. Causing the price to go down to create a new low of the year and not knowing if it will be broken into the abyss following MORE stocks or not
TH’s performance over the past years has seen net profit grow steadily, with a net profit of 26.08 million baht in 2020, a net profit of 96.11 million baht in 2021, and the first 9 months of this year a net profit of 195.23 million baht, and an increase from the same period last year which had a net profit of 51.81 million baht
The P/E TH ratio is less than 10 times, but it has not paid off for many years. Although the performance is profitable
Although not a popular speculative stock, TH is in the hot stock network. Some price ranges go up and down dramatically. Heavy turnover from more than 5,000 minority shareholders and most likely “nestled into the mountain”
Because the stock price has fallen so badly that minority shareholders can’t settle down and can’t sell.
TH is in the same position as MORE shares If the investigation results in abnormal trading transactions, MORE shares are linked to MORE and TH executives.
Stock price goes down It may just be the beginning of the downfall of TH and MORE stocks.