Analysts advise investors to steer clear of troubled Dusit

Investors are recommended to avoid Dusit Thani (DUSIT) as troubles at the SET-listed hospitality group linger after a shareholders meeting this week blocked the appointment of four directors, sounding an alarm about internal conflicts among major shareholders.

- NAREERAT WIRIYAPONG

In its filing to the Stock Exchange of Thailand, Dusit said management informed the shareholders meeting on Wednesday it resolved not to approve the re-election of four directors due to retire.

The directors are Arsa Sarasin, Pranee Phasipol, Pakhawat Kovithvathanaphong and Somprasong Boonyachai. As a result, the number of directors serving on the company's board is reduced to eight.

Shares of DUSIT contracted by as much as 2.7% to 7.20 baht in early morning trade yesterday, as the benchmark index soared by more than 1% to 1,178.24 points on the US tariff ruling.

Last month, more than three-quarters of the shareholders failed to endorse the company's 2024 financial statement.