Shares in Sahakol Equipment Public Company Limited (SET: SQ) pared some losses during Wednesday’s morning session, closing at THB 0.42 per share, representing a decline of 4.5%. Earlier in the session, the stock dropped as much as 9% to THB 0.40 per share amid heightened selling pressure.
The downturn followed reports of a landslide at the western and southern (SW Dump) soil dumping site in Mae Moh district, Lampang province, overseen by the Electricity Generating Authority of Thailand (EGAT). The incident resulted in damage to SQ’s office building and some company property. Authorities confirmed, however, that there were no reported injuries or fatalities, and the event did not affect electricity supply in the northern region.
SQ, a key contractor for soil and coal excavation in the Mae Moh mine, saw its shares hit a low of THB 0.40 during the morning session before regaining some ground.
