PTT palm oil deal under agency's probe | Bangkok Post: business

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PTT palm oil deal under agency's probe

Company seeks NACC help to ensure transparency

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The probe on PTT Plc's investment in a palm oil plantation in Indonesia remains under investigation by Thailand's National Anti-Corruption Commission (NACC) at the request of PTT. The company seeks to find out if the investment decision was made by executives for their personal benefit. 

A worker unloads bunches of palm fruit at an oil palm crushing factory in Krabi province. PTT Group asked the National Anti-Corruption Commission to continue its investigation into its investment in a palm oil company in Indonesia in 2008. PATIPAT JANTHONG

Yesterday Panpree Pahitanukorn, the former chairman of PTT Group, told media an internal investigation last year probed the investment in a palm oil deal in Indonesia and might have found evidence of wrongdoing at the executive level. He said the committee reported the outcome and sought the approval of the board earlier this year for measures to punish the wrongdoers.

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