Three Thais Accused of Fronting for China Railway No 10, Since it’s Inception

[Georgealbert]

 

Picture courtesy of Khaosod. DSI Director-General Police Major Yutthana Praedam explains a chart showing the names of three Thai nationals.

 

The Department of Special Investigation (DSI) has revealed that three Thai nationals allegedly acted as nominee shareholders for China Railway No. 10 (Thailand) Co., Ltd., the contractor behind the recently collapsed State Audit Office building. The DSI claims the trio were used to disguise foreign ownership from the very founding of the company on 10 August 2018.

 

The revelations came during a high-level investigation meeting held on 4 April, chaired by Justice Minister Pol Col Taweesong Sodsong and attended by DSI Director-General Pol Maj Yutthana Praedam, Deputy Director-General Pol Lt Surawut Rangsai, and 36 special case officers.

 

According to the DSI, the three Thai individuals named as shareholders are: Mr Sophon Meechai (holding 40.7997%), Mr Prajuab Siriket (10.2%), and Mr Manas Sri-anan (0.0003%). All are suspected of serving as nominee shareholders to mask the true foreign control of the firm.

 

 

Authorities plan to summon the individuals for questioning. Investigators found that the company shares its registered address with eight other firms within the same network. Combined, these companies have been awarded at least 27 government contracts worth over 10 billion baht.

 

When investigators visited Mr Prajuab’s home in Roi Et’s Phon Sai district, they found only his wife, who stated that her husband works as a construction labourer earning just over 10,000 baht a month. Officials flagged this as inconsistent with his legal status as a shareholder in multiple businesses, reinforcing suspicions of a nominee arrangement. The DSI is also tracing the whereabouts of Mr Sophon and Mr Manas.

 

DSI Director-General Yutthana confirmed that, beyond nominee violations, the agency is also investigating alleged bid-rigging under the Price Submission Act. The probe aims to determine whether the Thai shareholders were deliberately used to conceal the Chinese company’s ownership.

 

Investigators are now mapping the broader joint venture structure involving China Railway and 11 associated entities. Initial scrutiny is being applied to Italian-Thai Development PCL, which won the tender for the State Audit Office project.

 

DSI is prioritising the nominee case while also examining 29 contracts awarded to China Railway between 2019 and 2024. These include infrastructure, government buildings, and the first phase of the Bangkok–Nakhon Ratchasima high-speed rail project, valued at 9.3 billion baht.

 

In parallel, DSI is probing Xin Ke Yuan Co., Ltd., which supplied steel to the collapsed building. The Ministry of Industry previously found that some of the steel products failed to meet Thai industrial standards. Investigators are examining whether the faulty materials may also be linked to fake tax invoices and broader standards violations.

 

The inquiry is ongoing.

 

-- 2025-04-07

 

[blaze master]

I couldn't be more surprised.

[Mason45]

Golly gosh !!!

[NanLaew]

Any mention of the Thai law firm that created and registered these foreign proxies? Or the Thai government agency that didn't check on the bona fides of this company registration?

 

They really just can't help themselves.

[ozz1]

Someone has made a lot of money out of this just follow the money and the coverup by the officials corruption at its finest

[quake]

Nah.

Got to be some kind of fake news. 

[MikeandDow]

Ah! the Fall guys !!

[SAFETY FIRST]

3 hours ago, Georgealbert said:

Mr Prajuab Siriket (10.2%)

 

When investigators visited Mr Prajuab’s home in Roi Et’s Phon Sai district, they found only his wife, who stated that her husband works as a construction labourer earning just over 10,000 baht a month

Poor guy, probably signed so he'd receive a meagre extra month's salary (10k baht) or less. 

 

Now he's <deleted> 

[chuang]

Nothing surprising....

[Grossman]

5 hours ago, Georgealbert said:

In parallel, DSI is probing Xin Ke Yuan Co., Ltd., which supplied steel to the collapsed building.

I recall the authorities seized multiple tonnes of steel from this fine establishment last year.. Surely all of the seized produce is accounted for and none of it ended up being used in this fated building by "accident", right?

[lom]

18 minutes ago, Grossman said:

Surely all of the seized produce is accounted for and none of it ended up being used in this fated building by "accident", right?

Correct, none of the seized steel went to this building, the structure of the building had already been finalized when the steel company got raided.

On the other hand, the steel it had produced and sold before getting raided was used in the building.

 

[PETERTHEEATER]

9 hours ago, Georgealbert said:

Authorities plan to summon the individuals for questioning.

Just as soon as they return from their overseas business trips........😀

[Purdey]

Just put the Chinese owners in prison.

[Sir Dude]

The more they dig, the dodgier it becomes... got China's slipshod corrupt MO stamped all over it, even though Anutin will try to bury it over an extended investigation that won't report for months, and when released, will be almost no media attention on it as the bribes will have been done by then and the news cycle has moved on, lift carpet and brush quickly, nothing to see here move along.

[riclag]

You scratch my back and…

[steven100]

this is Thailand through and through  

[J Branche]

I'm puzzled by how the building appeared to collapse straight down with the earth shaking side to side.   Other pictures from some buildings that collapsed show them falling to one side.

 

 

[Artisi]

7 hours ago, Grossman said:

I recall the authorities seized multiple tonnes of steel from this fine establishment last year.. Surely all of the seized produce is accounted for and none of it ended up being used in this fated building by "accident", right?

No, that wouldn't be possible with the strident checks that would be in place 😉

[Sierra Tango]

That is a rather large chart to display 3 names...

[Johpa]

Why is anyone surprised?  Thailand has long been the most southern Province (มลรัฐ) of China.  Once Thailand monetized in the 19th century, after folks no longer paid taxes with corvée labor, the Chinese, long familiar with a monetary system and concepts such as debt and interest,  quickly filled the gaps in the economy, including becoming the tax collectors for the government.  Today the Chinese, working with the sympathetic Thai-Chinese community, can easily work within the Thai  economic system and avoid the legal restrictions on other foreign nationals.