DCON Products to Probe Loss of PRIN Board Seat Causing THB382 Million Loss
DCON Products (SET:DCON) will investigate the process that resulted in the company losing its representative on the board of Prinsiri (PRIN), after the change in investment classification resulted in a 382.2 million baht net accounting loss, according to a Tuesday filing.DCON holds a 24.99% stake in PRIN and previously had a representative, Nirut Intarathachang, on PRIN's board, allowing it to apply the equity method to its investment. Nirut's term expired at PRIN's 2026 annual general meeting and he was not nominated for re-election, resulting in DCON losing significant influence over PRIN.Following consultation with its auditor, DCON reclassified the investment from an associate to other non-current financial assets, which resulted in a loss.DCON stressed that the loss is an accounting impact and did not involve a cash payment or corresponding reduction in cash flows.
