GMO Financial Holdings, Inc. has announced that its consolidated subsidiary, GMO-Z com Securities (Thailand) Public Company Limited, which operates a securities business in Thailand, resolved at its Board of Directors meeting held on January 27, 2025, to discontinue all of its business operations.
The Thai subsidiary is expected to be dissolved and liquidated following the discontinuation of its business.
The Thai subsidiary commenced operations in November 2017. In November 2022, an incident involving unfair trading related to substitute securities accepted as collateral for margin trading occurred. This incident was primarily due to the concentration of lending to large-scale customers and specific collateral stocks, leading to a significant additional allowance for doubtful accounts.
Since then, the Thai subsidiary has undertaken comprehensive risk management reforms, including a complete suspension of new loans and…
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