THAILAND. King Power International has flatly rejected continuing allegations that it failed to pay the government some THB14 billion (US$423 million) in concession fees.
The claims are part of a private legal action by Charnchai Isarasenaluk, former Vice Chairman of the National Reform Steering Assembly.
This week The Central Criminal Court for Corruption and Misconduct Cases said that it would conduct a hearing next February on the alleged wrongdoing. Contrary to widespread media reports, the Central Criminal Court has not accepted the case for trial but initiated the procedure for a preliminary hearing to establish whether the matter has merit.
Earlier this year, Charnchai alleged that King Power International and Airports of Thailand executives had conspired to cause damage to the state through contractual impropriety.
In July, Airports of Thailand President Dr. Nitinai Sirismatthakarn slammed reports that King Power International had underpaid its airport concession fee, describing the allegations as “absolutely groundless” [click here for the full basis of his rebuttal].
In a written statement provided to The Moodie Davitt Report today, King Power International CEO Aiyawatt Srivaddhanaprabha said: “The allegations in question have yet to be accepted by the court and are categorically denied.
“King Power has always followed and been absolutely committed to the highest standards in proper and ethical business practice. “We are proud of our company’s good name and honest reputation and will fight rigorously any attempts to discredit them.”
