Sino-Thai stresses transparency in wake of alleged bribery
Sino-Thai Engineering and Construction Plc has affirmed that the company always conducts business in accordance with the principles of good governance and will never involve or support any form of corruption.
The company filed this statement to the Stock Exchange of Thailand today (November 13) in response to reports that the National Anti-Corruption Commission had accused the company and some persons in the company's senior management of abetting in a criminal offence of bribing government officials in exchange for allowing a ship transporting construction equipment parts from abroad to enter a harbour.
It added that the company has very strict measures in place to prevent corruption within the organisation in accordance with the principles of good corporate governance. Thus, all investors can be confident of the business operation of the company.
"The company firmly believe that it can provide explanations and evidences in defence of the allegation".
"In this regard, the company also want to inform everyone that the accusation in the press stemmed from an initial investigation. It is not clear whether the company was a participant in any wrongdoing or not at all. Pending a court judgement, the company is still deemed innocent".
"If anyone misrepresents or spreads the false news that the company has violated the law or involved in any kind of bribing act, the company will take legal action against such a person".
