'No business effects' from Pracha case

'No business effects' from Pracha case

Businesses in which Pracha Maleenont has an interest are expected to be only slightly affected by the absence of the convicted ex-deputy interior minister.

A broadcasting industry source said the case of Pracha will not hurt BEC World Plc, as he transferred his shares to his two daughters upon entering politics many years ago.

However, he still holds stakes in the SET-listed Wave Entertainment Plc, a BEC subsidiary that produces soap operas for Channel 3.

"When people hear about Pracha's 12-year prison sentence, they may think about his involvement in BEC, as his family owns the company. But in fact he has not been involved in the day-to-day operations or held any shares in BEC for a long time," said the source.

A local stock analyst said the court's ruling on Pracha would not affect BEC, as he has not been involved in the company's management since becoming a politician.

Moreover, BEC has not participated in any government auction during Pracha's tenure.

The Supreme Court's Criminal Division for Holders of Political Positions on Tuesday convicted Pracha and a former city fire chief of malfeasance in connection with the 6.687-billion-baht purchase of fire trucks and boats.

A 12-year prison term was handed down to Pracha and a 10-year term to Pol Maj Gen Athilak Tanchukiat, former director of the Public Disaster Prevention Office, for their roles in the deal.

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