"It seems that the numbers, which represent the company's financial status and operating outcome as presented in its financial statements, failed to adequately and/or properly reflect the actual position of the company," the SET said in a statement.

Manager Media, publisher of the Manager Daily newspaper, reported separately that the net loss of the company and the company's subsidiaries in the second quarter this year had narrowed from Bt33.46 million in the corresponding period last year to Bt21.73 million.

The company for the first half of 2006 saw its net loss drop significantly to Bt4.53 million from the Bt83.93 million net loss in the same period last year.

The company said it was still mired in net loss because political turbulence and the sluggish economic conditions had hurt its revenue from sales and services. It said it had tried to control its expenses for sales and administration.

As of June 30, Manager Media Group's consolidated liabilities exceeded its assets by Bt130.14 million, and the company's liabilities exceeded its assets by Bt97.84 million.

The consolidated shareholders' deficit as of June 30 was Bt386.59 million and the company's shareholders' deficit Bt358.56 million.

The firm is in rehabilitation and its stock suspended.