Bangkok, March 14, 2023 – Mr. Keeree Kanjanapas, Chairman of the Board, Mr. Surapong Laoha-Unya, Executive Director, and Pol. Col. Suchart Wongananchai, Advisor to the Chairman of the Board of the Bangkok Mass Transit System Public Company Limited (BTSC) or BTS Skytrain, clarified the facts regarding the allegations made by the National Anti-Corruption Commission (NACC) that the accusations had greatly impacted the Company's confidence. All 13 individuals accused were from Krungthep Thanakom Company Limited and the Bangkok Mass Transit System Public Company Limited. The allegations pertained to corrupt practices in service operation contracts and maintenance of all three lines, namely, the extension of the Sukhumvit Line: On Nut BTS Station to Bearing BTS Station; the Silom Line: Saphan Taksin BTS Station to Wongwian Yai BTS Station; and the contract to operate the train service on the route between Mo Chit Station BTS Station to On Nut BTS Station and the National Stadium BTS Station to Saphan Taksin BTS Station, which is set to expire in 2029, extending them for another 13 years to ensure all three lines conclude simultaneously in 2042.

Mr. Surapong stated that the case remains merely an allegation from the National Anti-Corruption Commission (NACC), and BTS has not been formally charged or prosecuted in any way and has the right to contest and rectify the allegations through legal procedures. The Company is willing to cooperate fully with the legal process at every stage.

"The Company confirms that the contract for the Green Line Extension operation has been conducted correctly in accordance with the law and free from any bid rigging."

The Company is aware that prior to this hiring, the Bangkok Metropolitan Administration (BMA) had consulted with the Constitutional Court in 2007. The Constitutional Court concluded that the assignment of projects by the Bangkok Metropolitan Administration to Krungthep Thanakom Company Limited whereby Krungthep Thanakom Company Limited contracted private sector operators for a fee constituted compensation rather than joint investment with the private sector. Furthermore, the contract for the Green Line Extension operation has undergone investigation by the Department of Special Investigation (DSI) in 2012. Following the conclusion of the investigation in 2013, the DSI and the Office of the Attorney General deemed it unnecessary to prosecute BTS.

Mr. Keeree further stated in response to media reports that the National Anti-Corruption Commission (NACC) has charged former Bangkok Metropolitan Administration officials and 13 others, including himself and the Company, with offenses related to misconduct in office and bid rigging. The news presented images of official documents from the NACC and claimed to originate from high-level sources within the NACC.

“Today, with the help of the media, I would like to clarify and help the public understand the truth regarding the ongoing case. The National Anti-Corruption Commission (NACC) initiated proceedings in this matter since 2012, when a Member of Parliament filed a complaint with the Department of Special Investigation and the NACC. The case involves the Bangkok Metropolitan Administration (BMA) contracting BTS for the operation of the Green Line extension Phase 1. Initially, it was alleged that the BMA lacked authority to proceed, as per the Cabinet's decree granting authority to the Minister of Transport, Ministry of Transport. At that time, the DSI had completed its investigation and concluded not to prosecute me and the Company. This decision was based on the fact that the evidence did not implicate me, the Company, or any of our employees. As a result, the prosecutor also decided not to pursue charges against us.”

"As for the case with the NACC, I was not aware of it because I was never informed or called to provide information until the period when I was actively involved in fighting against the wrongful auction of the Orange Line. I received information from Mr. Surapong, the Company's director, that the NACC had sent a letter requesting information about BTS shares, which had changed in value during the period when the contract for the skytrain operation was being made. This matter was explained to the NACC, stating that the change in share price was due to the Company's share consolidation. This was the only issue that Mr. Surapong provided information about to the NACC.  We found it strange since this matter had already been resolved. We wondered why there were still inquiries about it, until we received letters of accusation involving myself and others."

“To me, this was a surprise, but not beyond expectation, as I knew there were attempts to involve me in the legal proceedings. However, the actions of the NACC in this matter raised several suspicions because the Company and I, as investors and private entities contracted to provide public services on behalf of the government, are not involved in or have authority over the work of government officials. Yet today, we were accused of collusion with public officials in acts or omissions not in compliance with duties. In the accusation letter, which our legal team read in its entirety, it is still unclear who we allegedly committed the offenses with, where, when, how, and what evidence there is to confirm these offenses.”

“Therefore, I attempted to uncover the truth and found that an investigative committee had been established for several years. They conducted interviews and gathered evidence, and their proceedings have concluded. Their recommendation to the National Anti-Corruption Commission (NACC) was that there is no wrongdoing warranting further action. However, certain powers within the NACC seem reluctant to bring the matter to a close and insist on involving BTS in the accusation process. Their aim is to pressure me to halt my efforts regarding the Orange Line project. However, I refuse to yield to unjust demands. Thus, I consider this is where it led.”

“Therefore, I would like everyone to see my struggle and the consequences of my fight against injustice. I have been conducting business in Thailand for many decades. I am a businessman and an investor. The profits I have gained have not been at the expense of the country. I have contributed back to the nation and society. I have auctioned with fair and transparent numbers, without favoritism towards anyone.”

“This matter involves a process aimed at causing significant damage to BTS, to the extent of forcing it into bankruptcy. It began with the non-payment of over 40 billion baht in operating fees and system costs to BTS, forcing BTS to file a lawsuit to enforce the debt. The Central Administrative Court ruled in favor of BTS, requiring the payment of the debt. However, to this day, no payment has been made, and the amount has ballooned to nearly 50 billion baht. Following this, the issue was used to target the private sector, specifically by colluding to release NACC information to the press, intending to damage BTS's business and credibility. This strategy succeeded, as evidenced by the significant drop in BTS's stock price to the floor limit on Monday. However, thanks to the confidence of investors who understand our position, the price has since rebounded to near its original value. I must ask, is this how you retaliate against me for fighting for justice in the Orange Line project?”

“How did the NACC’s information leak to the media, given that it is part of an official investigation? Even the notice of allegation sent to me was marked "confidential." How did the media get hold of and reveal information from the case file? This clearly shows that there is indeed a scheme aimed at destroying BTS. I would like to ask the NACC: how did your documents end up with the media, and for what purpose? What are you trying to achieve by providing this information to the press?”

"I am not afraid of legal battles because I am confident in the integrity and correctness of my employees' work. However, what is happening now is the use of dirty tactics, is it not? The President of the NACC must find out who leaked this information, who they are, and what their intentions are. Otherwise, I cannot have confidence in your duties. How can I accept being investigated by this committee under such circumstances? I cannot accept this."

"If everything is done straightforwardly, I have no concerns because I have done nothing wrong. I have not conspired with anyone to do anything improper or to rig any bids. However, given the aforementioned behavior, I do not trust those conducting the investigation. Regarding the NACC's allegations, I have instructed my legal team to send a letter seeking clarification on the specifics of the alleged wrongdoing: what the offense is, where, when, and with whom it occurred. Please provide this information. I also assure you that we will continue operating the BTS Skytrain to avoid causing inconvenience to the public."