BTS Denies Reports of Government Body Passing Resolution of Malpractice on Executives

BTS Group Holdings Public Company Limited (SET: BTS) has made about the news regarding the allegation made by the National Anti-Corruption Commission (“NACC”) in relation to the execution of the Operation and Maintenance Services Contracts for the Green Line Extension Project in 2012 (the “O&M Contract for the Green Line Extension”) as follows.


Later, there was news published by the mass media during the past day regarding the resolution of NACC indicating malpractice by Mom Rajawongse Sukhumbhand Paribatra during his office as the Governor of Bangkok, and the others, totaling 12 persons, which include Bangkok Mass Transit System Public Company Limited (“BTSC”), a subsidiary of the Company, Mr. Keeree Kanjanapas and Mr. Surapong Laoha-unya, in their capacity as the directors of BTSC (together referred to as “BTSC and Executives”), in respect of the execution of the O&M Contract for the Green Line Extension.


In this regard, the Company would like to make additional clarification that the Company has not yet received any further confirmation on the indication of malpractice by NACC as reported in the news. Nevertheless, the Company would like to clarify on the preliminary facts as follows:


(1) Following the NACC’s notification on the allegation against BTSC and Executives, accusing them of supporting the malpractice of state officials, BTSC and Executives have submitted letters to NACC multiple times to request the specifics of the alleged malpractice in order for BTSC and Executives to accurately clarify the allegation. However, NACC did not provide any additional details as requested.

Furthermore, BTSC and Executives have found that there were many facts and evidence that have not been presented in the NACC’s investigation findings.

Therefore, on September 4, 2023, one of the Executives of BTSC sent a letter to NACC requesting a meeting on September 15, 2023 at 2:00 p.m. to understand his conduct in relation to the alleged malpractice and verbally clarify the allegation to NACC.

However, should it truly be that NACC has already passed a resolution indicating malpractice, such a resolution would have been made before BTSC and Executives could have made their clarifications.

BTSC firmly believes that when NACC becomes aware of the true facts and receives complete and accurate documentation from BTSC and Executives, NACC will realize that BTSC and Executives did not engage in any malpractice as alleged.


(2) In accordance with the law, if NACC has passed a resolution indicating malpractice as reported in the news, NACC must send a report, investigation findings, evidence and its decisions to the Attorney General within 30 days from the date of NACC’s resolution.

The Attorney General must then consider NACC’s investigation findings within 180 days from the date of receipt (unless an extension is granted) to assess the completeness of the investigation findings and decide whether to proceed with legal action against BTSC and Executives based on NACC’s allegations.


(3) The resolution indicating malpractice is a criminal process against state officials and does not affect the concession contract and the O&M Contract for the Green Line Extension.

Such contracts remain binding on both parties, and the public sector party continues to benefit from such contracts. The Company believes that the O&M Contract for the Green Line Extension has been duly executed in accordance with the relevant laws.