Bribery Claim Sparks 23% Slump in Shares of Thai Builder
Worker sit inside a building under construction in Koh Phangan in Thailand.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Thailand’s second-largest listed construction firm dropped the most in almost 13 years on Wednesday over a bribery allegation.
Sino-Thai Engineering & Construction Pcl fell as much as 23%, the biggest slide since December 2006, after the National Anti-Corruption Commission said it’s seeking charges against the firm’s President Pakpoom Srichamni, and others, over the claims.