Thai PM Orders Probe into Chinese-owned Samanea Plaza

[webfact]

 

by Krajangwit Johjit

BANGKOK (NNT) - Prime Minister Gen Prayut Chan-o-cha has ordered an investigation into the legality of Samanea Plaza Thailand, a new wholesale and retail trade and goods distribution center in Bangkok’s Bang Na district, following claims that the shopping center is fully owned by Chinese investors.

 

Gen Prayut has instructed all relevant state agencies, including the Ministry of Commerce and the Ministry of Interior, to investigate the legality of the trade center. He stated that if the permit for the center was unlawfully issued, it would have to be shut down.

 

The decision to allow the trade center to continue operating has sparked criticism from Thai middlemen who import goods from China to be resold in Thailand. They fear that Chinese traders will use the shopping center to trade directly with Thai buyers, flooding the domestic market with Chinese goods and causing prices to collapse, thus harming local traders.

 

A group representing these Thai middlemen has petitioned the Ministry of Commerce to investigate the legality of the plaza in question. They argue that the government must take responsibility for this matter because it has been actively trying to attract Chinese e-commerce operators into Thailand.

 

Department of Business Development Deputy Director-General Jitakorn Wongkhatekorn later clarified that the department granted a permit for the trade center to operate as it is owned by three Thai legal entities: Samanea Bangna 02 Co, Samanea Bangna Co, and Samanea Holdings (Thailand) Co., with Cheuk Fung Au, a Thai citizen being a key shareholder.

 

According to Jitakorn, Cheuk Fung Au has a Thai mother and the decision to allow foreign businesses to operate in Thailand was made by weighing potential advantages and disadvantages and without any preference for investors from any particular nation.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG230310112158868

 

-- © Copyright NNT 2023-03-10

 

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[ezzra]

Just follow the money to build this thing, where it came from and where the income is going and not be fooled by 'nominees'. 

[2baht]

Today Bang Na, tomorrow.......................................................................??? Nihao ma!

[khunjeff]

  On 3/10/2023 at 4:51 AM, webfact said:

The decision to allow the trade center to continue operating has sparked criticism from Thai middlemen who import goods from China to be resold in Thailand. They fear that Chinese traders will use the shopping center to trade directly with Thai buyers

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Assuming the business is properly registered, eliminating rent-seeking middlemen would seem to be a net gain for consumers...but a loss for the middlemen themselves, of course. 

[klauskunkel]

  On 3/10/2023 at 4:51 AM, webfact said:

the decision to allow foreign businesses to operate in Thailand was made by weighing potential advantages and disadvantages

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Please elaborate on the "weighing" part of this decision...

[John Drake]

  On 3/10/2023 at 4:51 AM, webfact said:

They fear that Chinese traders will use the shopping center to trade directly with Thai buyers, flooding the domestic market with Chinese goods and causing prices to collapse, thus harming local traders.

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Yes, this is what happens when you are colonized.

[RichardColeman]

  On 3/10/2023 at 6:11 AM, klauskunkel said:

Please elaborate on the "weighing" part of this decision...

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[PETERTHEEATER]

This looks like a job using the redundant GT400 probes......

[ukrules]

Maybe they should ban foreign shareholders and keep everything 100% Thai.

 

See how that works out and look back on the result after some period of evaluation, say 10 years and then decide how to proceed on a more permanent basis....if there's anything left by then that is

[sammieuk1]

Quick general before Chuwit notices more doggy deals ????

[RandiRona]

If they dig deep they will find that most of Thailand is owned by CCP. Laos and Campucia are shinning success model of CCP policy. Siamland next!!!

[jacko45k]

So what we are saying is the place will cut out the middlemen and make goods cheaper for consumers? I want cheaper Man Utd shirts and designer rip-offs!

[bangon04]

"with Cheuk Fung Au, a Thai citizen being a key shareholder.

According to Jitakorn, Cheuk Fung Au has a Thai mother "

 

and that is how it has always been done for 200 years, and will keep on until it is complete....

[hotchilli]

  On 3/10/2023 at 4:51 AM, webfact said:

The decision to allow the trade center to continue operating has sparked criticism from Thai middlemen who import goods from China to be resold in Thailand. They fear that Chinese traders will use the shopping center to trade directly with Thai buyers, flooding the domestic market with Chinese goods and causing prices to collapse, thus harming local traders.

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There will be no competition.

[John Drake]

This is the Chinese model of colonialism. Not only doing it here but in Kenya:

 https://www.bbc.com/news/world-africa-64809423

 

I've also seen reports of similar Chinese projects in South Africa, Philippines, Indonesia, Zimbabwe, Angola.

[gk10012001]

Thailand needs to decide how much foreign investment and control and influence they want or need.  There is lots of money in the world that could swoop in.  China already has probably more in Thailand then most people realize.

[gk10012001]

  On 3/17/2023 at 8:23 AM, John Drake said:

This is the Chinese model of colonialism. Not only doing it here but in Kenya:

 https://www.bbc.com/news/world-africa-64809423

 

I've also seen reports of similar Chinese projects in South Africa, Philippines, Indonesia, Zimbabwe, Angola.

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Yes.  I have been aware of the Chinese "investments" in Africa for many years now.  A subtle form of hegemony.