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[webfact]

DBD to continue to investigate five alleged nominee firms in Phuket

PHUKET, 6 May 2016 (NNT) - The Department of Business Development (DBD) will continue to investigate five private companies in Phuket alleged of being illegal nominees.

DBD Director General Phongphan Jiarawanont disclosed that the department was informed by the Tourist Police of complaints alleging the illegal nominee companies in the island province.

Though the DBD has initially found no violation under the Foreign Business Act involving the five suspicious firms with foreign shareholders, the agency will conduct an in-depth inspection into the case, he said.


-- NNT 2016-05-06

[madmitch]

Five companies? And only because they have been reported? Not trying very hard, are they?

[Srikcir]

Seems the five firms are suspicious only because they have foreign shareholders.

DBD will become very busy if they're to investigate every Thai business having foreign shareholders.

Meanwhile, the message to foreign shareholders may be - foreign investors aren't welcomed in Thailand.

What is more suspicious is that it's the Tourist Police making the complaint. hardly an agency known for their investigations into illegal corporate behavior. Until there is more evidence tbacking the complaints, the complaints sound more like Thai competitor anguish.

[sebastion]

Obviously these 5 companies are trying to compete with a powerful local within the same business.

Thai way of success.