Community Real Estate Firm Denies Links to Chinese ‘Grey Capital’ in Pattaya Controversy

[Georgealbert]

 

Picture courtesy of TMN

 

The management of Baidi International (Pattaya) Real Estate Asset Management Co., Ltd. has firmly denied any connection to alleged Chinese “grey capital” investment networks, following a wave of online speculation and media reports.

 

Mr Kham Saeyang, a company director, clarified that recent accusations stemmed from a misunderstanding regarding the financial transactions of certain property buyers. According to Mr Kham, some buyers may have used Chinese nationals with Thai bank accounts to transfer funds when purchasing real estate. However, he stressed that such transactions were conducted through legitimate banking channels and the company had no authority to verify the   origin of the funds.

 

“The company has no ties to Chinese grey capital. We are not a nominee for any foreign entity,” Mr Kham stated. “All shareholders and directors are 100% Thai. There is absolutely no foreign control over the company.”

 

Mr Kham also addressed concerns regarding the firm’s employment structure. Out of 86 staff members, 76 are Thai (90%), while 10% are legally employed foreign nationals. The company assured that all foreign workers were hired in compliance with Thai labour regulations.

 

He further clarified a recent incident and inspection, in which three Chinese nationals were found on the premises during an official inspection. These individuals, Mr Kham explained, had already resigned from the company and were merely visiting to close their personal WeChat accounts. “It was a misunderstanding. These individuals were no longer employees and were not engaged in any work-related activity,” he said.

 

Bidi International provides a range of real estate services, including condominium and village cleaning, property brokerage, and post-sale support such as maintenance and cleaning under a fully legal structure. Mr Kham emphasised that the firm operates under lawful agency contracts, with all payments transferred to the company’s accounts for processing, including tax, transfer fees and commissions.

 

The company claims to have built a solid reputation among a broad client base, not only among Chinese investors but also Thai nationals and clients from several other countries. Due to the damage to the company’s image and client trust caused by the false allegations, Bidi International is now preparing legal action against certain social media pages and news outlets that it accuses of spreading misleading or defamatory information.

 

“We have always cooperated fully with state authorities and remain ready to present further documents to any agency requiring verification,” said Mr Kham. “Baidi International is a Thai-owned, transparent business, and we remain committed to expanding our operations with integrity.”

 

  Adapted by Asean Now from TMN 2025-05-31.

 

 

 

[jacko45k]

So many claims and explanations and yes, excuses, I am left cynical!

[ChrisY1]

"The company has no ties to Chinese grey capital"......of course not...we are totally innocent..... as always!

[mikebell]

3 hours ago, Georgealbert said:

three Chinese nationals were found on the premises during an official inspection. These individuals, Mr Kham explained, had already resigned from the company and were merely visiting to close their personal WeChat accounts. “It was a misunderstanding.

I wish I had a baht for the number of times this word is used to explain wrongdoing by Thai companies/politicians/police/monks/hi-sos/army generals....

[topt]

4 hours ago, Georgealbert said:

These individuals, Mr Kham explained, had already resigned from the company and were merely visiting to close their personal WeChat accounts.

Why would you need to go to an office to do that? Is it not all done online.........

And if a "personal" account why the need to close it. 

[ozz1]

Believe me I wouldn't lie trying to keep a straight face