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A 51% Thai Co Owning 51% Of Another Company

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We all know that a foreigner can only hold 49% of a company and 51% must be held by Thai shareholders. My question is can a company that is set as 49% foreign / 51% Thai act as the 51% ‘Thai” shareholder for another 49/51 company? I didn’t think this sounded right, but I’m being told that this is OK. Is this normal practice, or does this sound like it may cause problems in the future.

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The answer is "yes".

Thank you for your help.

So this isn't that unusual after all.

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