If I remember correctly technically each Thai shareholder is supposed to have a certain amount of money. I forget the exact amount but it was around 1,000,000 baht. I doubt this Thai has 270,000,000 but it's possible. No more than two years ago I read an article written by a Thai legal expert about foreigners forming companies skirting the system with the sole purpose of buying land to live on. The article said a true company must have employees, actually doing some business and all the documents taxes etc that go with a true business. If the Thai government found the company wasn't a true business the foreigner could have his land taken. Perhaps in the case of this article these companies were being formed with the sole purpose of skirting the immigration laws, the companied weren't a true business and were only formed to allow people to stay in Thailand.