On April 18, 2025, the Stock Exchange of Thailand (SET) raised a warning sign, known as CB, for the securities of Clover Power Public Company Limited (CV), effective from April 21, 2025. This decision came after the company failed to meet the required financial criteria, necessitating that its shares be purchased solely through a cash balance account until the issue is resolved. Currently, CV is also marked with an SP warning due to its failure to submit financial statements for the year 2024.
According to the SET, the warning sign was raised because CV had not paid interest on its bonds, specifically the 9th installment due on April 17, 2025. As a result, the Thai Bond Market Association designated the situation with a "Failed to Pay" (FP) sign. The company is in the process of securing additional working capital to cover the overdue interest payment, which involves critical documentation from external agencies.
CV is primarily engaged in the production and distribution of electricity from renewable energy sources and other energy-related businesses. The company has been under scrutiny since the beginning of 2023, with continued warnings about its financial operations. The ongoing financial issues have raised concerns among shareholders, who are eager for the company to expedite its financial processes to restore confidence and transparency.
In a separate incident, Prime Minister Phaethong Tharat addressed the media following a meeting with national police and the Department of Special Investigation (DSI) regarding the recent collapse of the Office of the Auditor General (OAG) building. The Prime Minister confirmed that an arrest warrant is imminent for those involved in the construction of the building, which has been linked to potential negligence and contract violations.
"I urge all relevant agencies to cooperate fully with the police investigation. There are critical documents that have been requested but have not been provided promptly, which is unacceptable given the gravity of the situation," the Prime Minister stated. She emphasized that the investigation must uncover all evidence related to the tragic loss of life caused by the collapse.
The building's collapse has raised questions about the structural integrity and compliance of construction standards, particularly in light of reports indicating that the building may have been affected by seismic activity. The Prime Minister has called for a thorough review of all related documents, including those from the Meteorological Department and the Geological Resources Department, to determine if the Bangkok area experienced unusual seismic impacts prior to the collapse.
Moreover, the Prime Minister has requested additional cooperation from the Central Accounting Department regarding procurement standards, which are essential for assessing the quality of construction materials used in the building. She stressed the importance of transparency and accountability in the investigation, urging that individuals directly involved in the building's inspection and approval processes be excluded from the investigative committee to ensure impartiality.
"We must ensure that those responsible for the construction and inspection of the OAG building are held accountable," she said, reiterating her commitment to a thorough and transparent investigation. The Prime Minister also addressed concerns about the involvement of influential figures in the ongoing legal proceedings, stating that the government will not interfere with the legal process and will allow it to unfold according to the law.
As the investigation progresses, the DSI is currently pursuing cases related to non-compliance with construction standards, including issues with the steel and concrete used in the building. The Prime Minister has expressed her determination to ensure that justice is served and that those responsible for the tragedy are brought to justice.
In another development, the Ministry of Social Development and Human Security reported on efforts to assist a family in Samut Prakan after a tragic incident where a 54-year-old woman died at home. The woman had difficulty breathing and called for emergency assistance but mistakenly provided the wrong address, leading to a delayed response. Upon arrival, emergency personnel found the elderly woman deceased and discovered that her 81-year-old mother, who is bedridden and suffers from various health issues, was left alone.
Officials from the ministry, along with local leaders, have stepped in to provide support to the elderly woman, who is now without immediate family due to the recent loss of her daughter. The ministry emphasized the importance of community support systems to prevent such tragedies from occurring in the future.
These incidents highlight the need for stricter regulations and oversight in both the construction industry and social welfare systems. The government is under pressure to ensure that adequate measures are in place to protect citizens from similar tragedies and to provide timely assistance to those in need.
