Lawmakers call for examination of Securities and Exchange Commission
Investigation Launched Over Alleged Overvaluation of Skyy9 Building
A controversy has erupted over the purchase of the Skyy9 building by the Social Security Office (SSO), with allegations of a 7-billion-baht overvaluation. The investigation, led by a committee chaired by former Deputy Prime Minister Anutin Charnvirakul, found an abnormal urgency in the SSO's investment decision regarding the building.
According to the committee, the actual value of the Skyy9 building is estimated to be between 3.4 and 3.8 billion baht. However, the SSO proceeded with a purchase price of 7 billion baht. This discrepancy has prompted opposition People's Party MPs, Rakchanok Srinork and Sahasawat Khumkhong, to petition the Securities and Exchange Commission (SEC) for an investigation.
The target of the investigation is the property valuation firm behind the controversial Skyy9 building assessment. Despite numerous inquiries, the identity of this firm has not been publicly disclosed by MPs or official sources involved in the investigation.
The high valuation of the Skyy9 building has been widely criticised by the public, with concerns raised about abnormal urgency and possible misconduct in the investment process by the SSO. The controversy triggered legal scrutiny and calls for accountability regarding the valuation and procurement procedures.
As the investigation continues, the SEC has yet to disclose any findings or updates on the matter. The petition was submitted to the SEC on a specified, but not mentioned, date. Ms Sahasawat Khumkhong noted that the discrepancies caused significant financial damage to both the SSO and citizens.
In summary:
- The property valuation firm behind the Skyy9 building assessment has not been publicly disclosed by MPs or official sources involved in the investigation.
- The alleged issue is a 7-billion-baht overvaluation of the Skyy9 building.
- The petition is regarding the firm behind the controversial Skyy9 building.
- The actual value of the Skyy9 building, according to the committee, is between 3.4 and 3.8 billion baht.
- Opposition People's Party MPs, Rakchanok Srinork and Sahasawat Khumkhong, have petitioned the Securities and Exchange Commission (SEC) for an investigation.
- The SSO moved forward with a 7-billion-baht investment despite the discrepancy between the actual value and the investment amount.
- The name of the property valuation firm in question was not disclosed by the MPs.
- The investigation is ongoing, with no updates or findings disclosed by the SEC as of yet.
- The opposition People's Party MPs, Rakchanok Srinork and Sahasawat Khumkhong, have petitioned the Securities and Exchange Commission (SEC) for an investigation into the property valuation firm behind the controversial Skyy9 building assessment, which is alleged to have overvalued the building by 3-billion baht.
- The petitions stem from concerns regarding the abnormal urgency and possible misconduct in the investment process by the Social Security Office (SSO) as they proceeded with a 7-billion-baht investment despite the discrepancy between the actual value (3.4-3.8 billion baht) and the investment amount, with the identity of the property valuation firm in question remaining undisclosed by the MPs and official sources involved in the investigation.
