BKK:CCET

Maybank Downgrades Cal-Comp Electronics Thailand to Hold from Buy; Price Target is THB9.20

Glass Lewis Controversy Alert: Cal-Comp Electronics (Thailand)

Glass Lewis issued a controversy alert for Cal-Comp Electronics (Thailand) (BKK:CCET) shareholders ahead of the company's annual general meeting on April 29, according to a recent release.The alert relates to alleged labor rights violations and unfair dismissal of migrant workers.The company reportedly let go of more than 1,400 migrant workers, most from Myanmar, with no prior notice.The company allegedly confined the workers and intimidated them into signing termination documents.The allegations raise reputational and supply chain risks, especially since the company is a major supplier in the global electronics industry.Parent Kinpo Group said the allegations are false and the terminations were compliant with Thai labor laws and had government oversight.The alert's rationale relates to relevant media coverage and potential material ESG risk and falls under human capital management and supply chain.