SET lifts suspension sign on BSEC as CEO

When asked why, he said he wanted to explore new pastures and get new experience.

"I am still considering the job at Country Securities Group, as reported, but it takes time. I want to work at a secure firm," he explained.

Prasit is one of the four high-ranking executives recently investigated for the sale of Thai Polycons (TPOLY)'s 24.1-million initial public offering (IPO) shares. The shares were sold at a cheaper price than bought and caused huge losses. However, Prasit was later exonerated.

At that time, BSEC was TPOLY's underwriter and had to buy the 24.1 million shares leftover from the IPO at a price of Bt2.80 each. This raised strong criticism in the brokerage circles as the sell-off was blamed for the sharp plunge in TPOLY shares on the first day of trading.

BSEC has made Kingthien Bang-or an acting chief executive until a replacement for Prasit can be found. The company's stock shot up by 23.38 per cent closing at Bt1.90 after the Stock Exchange of Thailand lifted its "SP" or suspension sign on the stock after BSEC reported Praist's resignation.

BSEC's consolidated earnings in the first quarter swung back into a net loss of Bt26.66 million from a Bt55.33 million net profit in the corresponding period last year.