The close to implosion of a $2 billion firm in Thailand is fueling calls from buyers for tighter oversight of the nation’s capital markets.
In current months, Thailand’s monetary markets have been convulsed by a spate of scandals involving some mid-sized listed firms, a tainted crypto change and unexplained gyrations in share costs. Now, a sudden default by wire maker Stark Corp. is leaving holders of about 39 billion baht ($1.1 billion) value of liabilities dealing with imminent losses after the corporate disclosed accounting irregularities that additionally left its shares nearly nugatory.
