The Securities and Exchange Commission, or SEC, announced civil penalty action against three wrongdoers for jointly creating price or trading volume in the shares of NCL International Logistics Public Company Limited, or NCL, ordering payment of civil penalties totaling 4,894,925.04 baht. The three wrongdoers are Ms. Phattheera Homwilai, Mr. Pongthep Wichaikul, and Mr. Pornthap Wichaikul, who are linked both personally and financially. Each must pay a civil fine and reimburse the SEC's expenses of 1,631,641.68 baht each. They are banned from trading securities or derivatives for 8.5, 14, and 8.5 months respectively, and barred from serving as directors or executives for 17, 28, and 17 months respectively, following behavior of submitting buy orders to push up the price of NCL shares between June 21 and October 26, 2023. NCL informed the Stock Exchange of Thailand that the incident does not affect its business operations, and Mr. Pongthep Wichaikul has resigned from his positions as director and chief executive officer, effective from September 16, 2026 onward. The company still has four authorized directors with signing authority and will expedite the search for suitable individuals to fill the vacant positions.
NCL International Logistics Public Company LimitedSEC fined three individuals for manipulating NCL shares and barred one, the CEO, from serving as director/executive, prompting his resignation.
