There is a controversy going on in the market between Miss Grand International Public Company Limited (mai: MGI) and a brokerage firm that could lead to a small misunderstanding but is now turning into a big controversial dispute between the two. The point is, things like this would not happen if there is a good understanding in reading comprehension and communication.
Nawat Itsaragrisil, CEO of Miss Grand International Public Company Limited (mai: MGI), posted on Facebook Page “ณวัฒน์ อิสรไรศีล – Mr. Nawat Itsaragrisil” to directly communicate with investors, as on February 27, 2024, he stated that “Today at 10 AM, CIMB had brought 35 investors to MGI for a company visit.”
CGS-CIMB Securities changed its corporate name to CGS International Securities (Thailand) Limited in February 2024.
Later that day, CGS International Securities (Thailand) Limited posted an announcement to deny the statement of MGI’s CEO, stating that it did not proceed with the visit on behalf of the company and did not promote such an act. CGSI also reiterated with its personnel involved that they should take actions in accordance with the company’s principles.
Nawat countered the denial announcement from CGSI, saying that it was a false statement, as there had been CGSI personnel bringing a group of investors to the company. He also said that such false statements could damage the reputation, credibility, and share prices of MGI.
To support his claim, Nawat Itsaragrisil posted a screenshot of the letter from CGSI’s broker that requested a company visit on his Facebook.
The letter says;
“Dear Khun Saksit,
I am Hataiwong Plumsati, a retail brokerage securities professional at CGS-CIMB Thailand. I am reaching out on behalf of a group of dedicated value investors who are keenly interested in exploring investment opportunities with MGI.
In our pursuit of a better understanding of your company’s potential, we are interested in arranging a conference call with your team. This call will allow us to delve deeper into MGI’s business, financial prospects, and strategic direction.
We believe that this direct conversation can be mutually beneficial, providing an opportunity for us to ask any questions we may have and, in turn, enabling us to gain insights into the company’s long-term outlook.
To this end, we kindly request your availability for a conference call at your earliest convenience. Please let us know your preferred date and time, and we will coordinate all the necessary details to ensure a seamless and productive conversation.
Thank you for your time and attention. If you have any inquiries or require additional information from us, please feel free to reach out.”
After the post, a wave of comments hammered CGSI, while the CEO also urged his fans to not use CGSI service anymore.
It is clear that the one reaching out is none other than a person who works at CGSI. However, after reading through the first paragraph, it is hard to miss the part where it says that the letter was sent “on behalf of a group of dedicated value investors,” which indicates that the broker acts on behalf of his investors not directly from the company’s direction, which supported the announcement from CGSI.
Sadly, it does not seem like any of his fans in the comment notice this apparent detail in the letter as it is not hard to understand and there is Google Translate as a tool for free.
