The NACC handed over gold bars worth 1.5 billion baht, equivalent to 20,976 baht in weight, to the Ministry of Finance after a Supreme Court ruling related to tax fraud.

Key Points

• On February 27, 2026, Surapong Intharathaworn, Secretary-General of Thailand’s National Anti-Corruption Commission, transferred gold bars valued at 1.5 billion baht to the Ministry of Finance, following a Supreme Court ruling confirming the gold belonged to a former Revenue Department chief involved in tax fraud.
• The NACC found that Satit Rungkasiri improperly accumulated wealth through gold purchases from Hua Seng Heng Commodities Co., Ltd. The gold was ruled as the state’s property due to its ill-gotten nature.
• This case is linked to a 4-billion-baht tax fraud investigation implicating at least 10 individuals, including civil servants. Satit Rungkasiri was sentenced to prison, and the gold bars are now officially part of the nation’s assets, concluding the high-profile investigation.

Handing Over of Gold Bars

On February 27, 2026, Surapong Intharathaworn, Secretary-General of Thailand’s National Anti-Corruption Commission (NACC), presented 20,976 baht of gold bars worth 1.5 billion baht to the Ministry of Finance. This handover was mandated by a Supreme Court ruling in case 1256/2567, which confirmed that the gold belonged to the former chief of the Revenue Department. The bars were seized as a result of a major tax fraud investigation, demonstrating the government’s commitment to combat corruption and uphold lawful conduct in public service.

Background on the Tax Fraud Case

The NACC’s previous investigation revealed that Satit Rungkasiri, while serving as director-general of the Revenue Department, had amassed wealth through improper means, particularly through the purchase of gold bars from Hua Seng Heng Commodities Co., Ltd. These assets were classified as ill-gotten gains and were ultimately ruled by the court to belong to the state. This case is part of a broader 4-billion-baht tax fraud investigation implicating at least 10 individuals, including both civil servants and private sector members. Previously, Rungkasiri had been sentenced to prison for his involvement in the fraudulent activities.

Closure of the Case

With the formal transfer of the gold bars, this high-profile case reaches its conclusion, officially adding the bars to the nation’s assets. This event signifies a critical step in demonstrating the government’s efforts to address corruption within its ranks and reaffirms the judicial system’s role in holding individuals accountable. The NACC’s actions reflect a robust approach to ensuring public trust and fostering integrity across governmental operations, illustrating Thailand’s commitment to tackling corruption proactively.

Source : NACC returns 1.5 billion baht in gold seized from tax fraud case to Ministry of Finance

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Overview The ASEAN region is currently undertaking a massive overhaul of its energy systems to balance rapid economic growth and rising energy demand with the urgent need for deep decarbonization. To achieve a just and responsible energy transition, Southeast Asian nations must address a significant investment gap and the “energy trilemma” of security, affordability, and sustainability.

Key Points

• ASEAN is the world’s fourth-largest energy consumer, with energy demand and carbon emissions both growing at an annual rate of 3%, which is significantly higher than the global average.
• The region faces a massive investment gap, requiring an estimated $150 billion annually in clean energy funding by 2030, while currently attracting only about $30 billion per year.
• Geographical and economic vulnerabilities, such as exposure to rising sea levels and agricultural dependence, make the transition to resilient, low-carbon power systems an urgent necessity.
• The transition is complicated by “young” coal fleets and a grid infrastructure originally designed for conventional thermal power rather than intermittent renewable energy.
• Targeted funding and concessional finance mechanisms, such as the Just Energy Transition Partnership (JETP), are needed to de-risk unattractive investment areas like the early retirement of coal plants.
• Regional policy alignment regarding carbon taxes and sustainable activity taxonomies is essential to create a stable environment for international investors.
• Technology transfer in areas such as carbon capture (CCUS), green hydrogen, and smart grids is critical for modernization.
• A “just” transition must include workforce reskilling and community engagement to ensure that those dependent on the coal economy are not left behind during the shift.
• The “ASEAN Leaders for Just Energy Transition” community, facilitated by the World Economic Forum, has issued a Shared Aspirations Statement to provide a unified voice for the region’s specific challenges and priorities.

ASEAN faces a critical energy transition, aiming for deep decarbonization despite surging demand and significant funding gaps. The region, a major energy consumer, is highly vulnerable to climate change, necessitating an urgent overhaul of its power sector. Key challenges include economic development goals, a young coal fleet, and infrastructure limitations. To succeed, ASEAN requires an estimated $150 billion annually in clean energy investment. Success hinges on mobilizing funds, fostering extensive regional and global collaboration, and aligning policies. A just transition also involves reskilling the workforce and ensuring community buy-in for long-term benefits.

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Operator

Good day, everyone, and welcome to Cricut Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded.

Now, it’s my pleasure to turn the call over to the Senior Vice President and Head of Investor Relations, Jim Suva. Please proceed.

Jim Suva
Senior Vice President of Finance, Treasurer & Investor Relations

Thank you, operator, and good afternoon, everyone. Thank you for joining us on Cricut’s Fourth Quarter 2025 Earnings Call.

Please note that today’s call is being webcast and recorded on the Investor Relations section of the company’s website. A replay of the webcast will also be available following today’s call. For your reference, accompanying slides used on today’s call, along with a supplemental data sheet, have been posted to the Investor Relations section of the company’s website, investor.cricut.com.

Joining me on the call today are Ashish Arora, Chief Executive Officer; and Kimball Shill, Chief Financial Officer. Today’s prepared remarks have been recorded, after which Ashish and Kimball will host live Q&A.

Before we begin, we would like to remind everyone that our prepared remarks contain forward-looking statements, and management may make additional forward-looking statements, including statements regarding our strategies, business, expenses, tariffs, capital allocation and results of operations in response to your questions. These statements do not guarantee future performance, and therefore, undue reliance should not be placed upon them.

These statements are based on current expectations