Former PTTEP CEO, 15 executives cleared in alleged palm oil project graft

13 Sept 08:34 Key points summarised by AI

The National Anti-Corruption Commission (NACC) cleared the former CEO of PTT Exploration and Production and 15 executives of alleged corruption in 20 billion baht Indonesian palm oil projects after a ten-year investigation.
PTT initiated the case in 2015, alleging mismanagement and suspected corruption that led to continuous losses since 2007, prompting the company to shut down and sell the operations.
Separately, PTT and PTT Green Energy filed civil lawsuits in 2015, seeking 20 billion baht in compensation from former CEO Nipit Isarangkun Na Ayudhya, who was dismissed in 2014.
An internal audit by Deloitte Touche Tohmatsu Jaiyos uncovered approximately US$34 million spent as 'commission' for procuring 40,500 hectares of land for the plantations.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.