The Stock Exchange of Thailand (SET) Index has been declining recently due to poor market sentiment caused by an accounting scandal at Stark Corporation Public Company Limited. The scandal has raised concerns about corporate governance and the role of regulators, denting confidence in the local financial market. Stark’s financial statements revealed irregularities, including false profit figures and a significant loss. Shareholders and bondholders have suffered losses as a result of the scandal. The SEC and SET are working to restore public confidence, and the SET has pledged to improve regulations and disclosure practices to prevent similar incidents in the future.
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