NO LINKS YET FOUND BETWEEN SUSPECTS AND STOCK TRADERS

       No connections have turned up between the two former and present securities staff arrested for posting provocative information on websites and large stock investors and foreign brokerages.
       "After initial investigations, no links were found between the two suspects and the two foreign brokerages: UBS Securities Singapore and Credit Suisse Securities (Hong Kong)," Securities and Exchange Commission (SEC) secretary-general Thirachai Phuvanatnaranubala said yesterday.
       The Stock Exchange of Thailand (SET) will continue looking for any relationships among the two suspects' 10 stock-trading clients.
       Thiranan Vipuchanan, 43, who has reportedly worked as a securities executive, was arrested at Suvarnabhumi Airport on her return from a trip to Europe. Katha pajajiriyapong, 37, employed by KT Zmico Securities, was arrested in the Silom Road area on Sunday.
       Both were charged with violating the Computer Act, which prohibits the dissemination of incorrect information that could threaten national security or alarm the public. Their information was passed around during the SET Index crash from October 14-15.
       On October 14, Credit Suisse Securities (Hong Kong) was swamped with Bt3 billion worth of net sales of stock and UBS Securities Singapore with Bt1.3 billion in net sales. Other net sellers were mutual funds and private funds, including an individual Thai investor with Bt218 million in net sales.
       The following day, UBS Securities Singapore recorded Bt1.3 billion in net purchases, making it the biggest net buyer. Other net buyers were foreign investors, mutual funds and an individual Thai investor with net buys of Bt145 million, making that investor the ninth-largest net buyer.
       Thirachai said the SEC did not find anything unusual about the stock trading of those two large foreign investors or any involvement with the rumour-mongering.
       The SEC has handed its report on the stock trades of these investors to the Department of Special Investigation (DSI).
       "The DSI has now set up an investigating team, including representatives of the SEC," Thirachai said.
       The SEC asked for more information about stock trading from UBS SECURITIES and received further details about trading orders. Thailand's SEC will no longer need to coordinate with Singapore's SEC for more information as planned.
       However, the SEC has not yet received complete information regarding stock trading by Credit Suisse Securities (Hong Kong) from October 14-15, Thirachai said.
       The SEC will not consider cancelling Katha's marketing licence just becasue he is under investigation by police.
       SET chairman Sompol Kiatphaibool said the exchange was checking into possible violations of the SEC Act by the suspects.
       "Although there is no record of Thiranan and Katha engaging in stock trading from October 14-15 trading orders have been uncovered that were made by Katha to 10 other investors," he said.
       The SET will continue searching for any association between the two suspects and the 10 investors and any gains they may have made from trading on the harmful rumours.
       Since Thiranan has been away from the securities industry for a long time, there was no information in the SET database about her trades, Sompol said.