Question on Thai company ownership

[Cosmo88]

PLEASE NOTE: My question is about COMPANY B:

Company A is a limited Thai company with 51% Thai shareholders and 49% non-Thai shareholders.

Company A owns 51% of the shares of Thai limited company B, while non-Thai shareholders own the remaining 49%.

QUESTION: Is Company B considered as "51% Thai-owned", OR is it "26% (51% x 51%) Thai-owned" ?

[Sunbelt Asia]

Currently they count by the total number of shares owned rather than by voting power.

So for instance if you have a company with 100,000 shares in total and you had 51% (51,000 shares) held by Thais and the other 49% (49,000 shares) held by non-Thais and even if the shares that the Thais are holding are preferential share (diluted to 10 share equal to 1 vote) and the shares that the Non-Thais are holding are common/ordinary share (1 share equals to 1 vote) the company would still be considered as a Thai company based solely on the number of shares held by Thais.

In this case Company B would be 51% Thai owned as Company A is still a Thai Limited Company based on the fact that it s a majority Thai owned.

[sunbeltlegal][/sunbeltlegal]