Picture courtesy of Daily News

 

The Department of Special Investigation (DSI) has launched a probe into China Railway No.10 Engineering Co (CREC) after suspicions arose about Thai nominees holding proxy shares in the company.

 

This development follows the collapse of the State Audit Office building in Bangkok last Friday. Justice Minister Tawee Sodsong revealed on Wednesday that the company, which should be majority-owned by Thais under law, might be using nominees to skirt ownership regulations.

 

Aside from the State Audit Office fiasco, CREC is involved in several key government projects. These include a new passenger terminal at Narathiwat airport, a housing project in Phuket, and various infrastructure developments around Bangkok.

 

The construction sector is keenly watching the unfolding investigation, which now also questions whether the firm's materials met industrial standards.

 

DSI's investigation will extend to other projects handled by CREC and its Chinese engineers. These include a number of major government contracts from 2019 to 2022 such as a school building at Wat Amarintararam in Bangkok, a dormitory at Phuket Rajabhat University, and a provincial government complex in Phrae.

 

The outcome could impact future collaborations and trust in foreign companies.

 

 

 

On Wednesday, immigration police raided a property in the Din Daeng district, believed to be linked to CREC. They discovered two Chinese nationals, eight Thais, and a Toyota vehicle associated with the company in the sparsely furnished house.

 

As the case unfolds, it raises questions about business ethics and compliance in Thailand's construction industry.

Following the State Audit Office collapse, the ITD-CREC consortium insisted their construction materials adhered to all standards.

 

They assured that procurement and building processes met project requirements, relevant laws, and engineering guidelines. Meanwhile, the Office of the Judiciary confirmed that construction for the Court of Appeal Region 9 and Min Buri’s civil and criminal courts followed respective standards.

 

The DSI's findings will reveal the extent of any compliance breaches, impacting future project alignment and foreign partnerships in Thailand’s construction landscape.

 

Based on a story by Bangkok Post

 

-- 2025-04-03

 

 

If it's Chinese then it's as bent as a nine bob note - simple !

Whats the betting Thaskin has his finger in this !!

52 minutes ago, MikeandDow said:

Whats the betting Thaskin has his finger in this !!

Via his driver, gardener and house maid, as was done previously. 

5 hours ago, webfact said:

Picture courtesy of Daily News

 

The Department of Special Investigation (DSI) has launched a probe into China Railway No.10 Engineering Co (CREC) after suspicions arose about Thai nominees holding proxy shares in the company.

 

This development follows the collapse of the State Audit Office building in Bangkok last Friday. Justice Minister Tawee Sodsong revealed on Wednesday that the company, which should be majority-owned by Thais under law, might be using nominees to skirt ownership regulations.

 

Aside from the State Audit Office fiasco, CREC is involved in several key government projects. These include a new passenger terminal at Narathiwat airport, a housing project in Phuket, and various infrastructure developments around Bangkok.

 

The construction sector is keenly watching the unfolding investigation, which now also questions whether the firm's materials met industrial standards.

 

DSI's investigation will extend to other projects handled by CREC and its Chinese engineers. These include a number of major government contracts from 2019 to 2022 such as a school building at Wat Amarintararam in Bangkok, a dormitory at Phuket Rajabhat University, and a provincial government complex in Phrae.

 

The outcome could impact future collaborations and trust in foreign companies.

 

 

 

On Wednesday, immigration police raided a property in the Din Daeng district, believed to be linked to CREC. They discovered two Chinese nationals, eight Thais, and a Toyota vehicle associated with the company in the sparsely furnished house.

 

As the case unfolds, it raises questions about business ethics and compliance in Thailand's construction industry.

Following the State Audit Office collapse, the ITD-CREC consortium insisted their construction materials adhered to all standards.

 

They assured that procurement and building processes met project requirements, relevant laws, and engineering guidelines. Meanwhile, the Office of the Judiciary confirmed that construction for the Court of Appeal Region 9 and Min Buri’s civil and criminal courts followed respective standards.

 

The DSI's findings will reveal the extent of any compliance breaches, impacting future project alignment and foreign partnerships in Thailand’s construction landscape.

 

Based on a story by Bangkok Post

 

-- 2025-04-03

 

 

Probably not the only one company "owned" by Chinese.

I wonder what will be the end of this story?

never ending  story in bangkok post, about bangkok governor wants to buy seismographs  for 9 million baht and put them in bangkok towers  the best machine you can get is 40,000 baht a piece  and puting them in towers is the worst place you can put them  what happens to the rest of the money ??  do Thais not do due diligence, corruption and waste of money at its best

4 hours ago, JoePai said:

If it's Chinese then it's as bent as a nine bob note - simple !

Its very interesting that they only talk about looking at the Chinese company for infractions and construction issues but do not mention the associated Thai\Italian company counter part in the construction failure. They need took at all the players in this regardless of who they are and determine if their is culpability as well. 

3 hours ago, Artisi said:

Via his driver, gardener and house maid, as was done previously. 

I thought I read the Thaksin family has shared in Thai/Italia which I believe is one of the contractors.

 

13 minutes ago, Dan O said:

Its very interesting that they only talk about looking at the Chinese company for infractions and construction issues but do not mention the associated Thai\Italian company counter part in the construction failure. They need took at all the players in this regardless of who they are and determine if their is culpability as well. 

Might be because the Thaksin family has shared in Thai/Italia

Always looking into things but never actually seen to prosecute them 🙄

19 minutes ago, MikeandDow said:

never ending  story in bangkok post, about bangkok governor wants to buy seismographs  for 9 million baht and put them in bangkok towers  the best machine you can get is 40,000 baht a piece  and puting them in towers is the worst place you can put them  what happens to the rest of the money ??  do Thais not do due diligence, corruption and waste of money at its best

And what good would they be.... They don't predict earthquake.

4 minutes ago, Aussie999 said:

And what good would they be.... They don't predict earthquake.

exactly !!

7 minutes ago, Aussie999 said:

Might be because the Thaksin family has shared in Thai/Italia

I belive they are looking at Thai nominees,  betting is Thaskin will have his finger in the pie if that is true and made public think it might topple this goverment ??

6 hours ago, webfact said:

They assured that procurement and building processes met project requirements, relevant laws, and engineering guidelines. Meanwhile, the Office of the Judiciary confirmed that construction for the Court of Appeal Region 9 and Min Buri’s civil and criminal courts followed respective standards.

Cuz they're engineers??

53 minutes ago, Aussie999 said:

And what good would they be.... They don't predict earthquake.

They do if combined with the GT200

Do any Italians hold shares in Ital/Thai?

1 hour ago, Aussie999 said:

do Thais not do due diligence

Only after an 'event', not before.

You lift up a rock and all sorts of creepy crawly multi-legged things scurry out and try to find another place to hide.

1 hour ago, Purdey said:

Do any Italians hold shares in Ital/Thai?

When the company was formed, a long time ago, there was an Italian with a name like Signor Berliangieri, and Dr Chaiyut Karansutra. The Italian is long gone, and the company has been listed on the SET for many years. Who knows who owns all the shares now.

9 hours ago, webfact said:

This development follows the collapse of the State Audit Office building in Bangkok last Friday. Justice Minister Tawee Sodsong revealed on Wednesday that the company, which should be majority-owned by Thais under law, might be using nominees to skirt ownership regulations

Say it ain't true... 

13 hours ago, webfact said:

The outcome could impact future collaborations and trust in foreign companies.

How about the outcome could impact future collaborations and trust in Chinese companies, or is that considered to be racist?

 

Why tar all companies with the same brush?

It’s not going to bring those who perished back surly there were Thai government inspectors doing regular inspections during the building project I read that the work had started three years ago when was the last inspection carried out ?

7 hours ago, ronster said:

Always looking into things but never actually seen to prosecute them 🙄

Like the Chinese submarines 

9 hours ago, hotchilli said:

Say it ain't true... 

It's true, but......... 

21 hours ago, Peabody said:

They do if combined with the GT200

Ah yes, the good old GT200, I remember it well.