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 The meeting was scheduled to consider the proposed investment of Bt543.6 million for a 63.95 per cent stake in Deva Development Co Ltd from Pinmuk and Chanont Senadisai. Both also proposed to tender for Scandinavian Leasing's shares at Bt9 apiece.

 SMC Motors submitted a letter to Scandinavian Leasing's board of directors, indicating the inability to attend the meeting. It did not explain why.

 Due to the absence of SMC Motors which holds a 49.9 per cent stake in the leasing company, the meeting quorum cannot be constituted. Attending the meeting was only shareholders with combined ownership of 9.6 million shares or 15.11 per cent of total issued shares.

Market observers viewed this as a backdoor listing attempt by Deva Development, a property developer.