BANGKOK, May 22 (TNA) — The Stock Exchange of Thailand (SET) is closely monitoring trade in the shares of Thai Airways International (THAI) and warns traders to make careful consideration on investment in the financially troubled airline because there has not been a clear direction for its rehabilitation yet.
Regarding the THAI share price that hit its ceiling for eight times over the past two months, SET president Pakorn Peetathawatchai said SET naturally monitored the shares, of which the exchanged values and volumes abnormally fluctuated and it would try to find out the causes of the fluctuation.
People needed in-depth analysis if they planned to invest in a stock that lacked a clear rehabilitation plan because it was important to know solutions and impacts. The lack of clear rehabilitation posed very high risks on investors, he said.
Ruenvadee Suwanmongkol, secretary-general of the Securities and Exchange Commission, said SET was the first organization to watch out for abnormal stock trade and would work with SEC after such irregularity was found.
There was active trade in THAI shares. The share price was fluctuating and speculative trade in the stock was obvious from early last month onwards.
Recently Thai Rating and Information Services Co (TRIS Rating) downgraded its rating on THAI’s debentures from BBB to C to reflect the airline’s debt repayment possibility after filing for bankruptcy. (TNA)
