DSI Investigates Proxy Shareholdings in Chinese Firm Behind Collapsed Skyscraper
BANGKOK – The Department of Special Investigation (DSI) is probing the Chinese construction firm China Railway No.10 Engineering Co. (CREC) over alleged proxy shareholdings involving Thai nominees. The company, which was building the collapsed State Audit Office, is also involved in numerous government-funded projects across Thailand.
Justice Minister Tawee Sodsong confirmed on Wednesday that the DSI has gathered sufficient evidence to suspect violations of foreign ownership laws, which mandate at least 51% Thai ownership in such companies.
Investigations Expanding Beyond Ownership
The DSI will also examine:
- The quality of materials used by CREC in its construction projects.
- Compliance with industrial standards and safety regulations.
- Other government contracts awarded to the company between 2019 and 2022.
Government Projects Under Scrutiny
CREC is part of several major state-funded construction projects, including:
- State Audit Office (Bangkok) – 2.14 billion baht (collapsed).
- Narathiwat Airport Passenger Terminal – 639 million baht.
- Phuket Housing Project (354 units) – 343 million baht.
- Wat Amarintararam School Building (Bangkok) – 160 million baht.
- Warehouse at Chakri Naruebodindra Medical Institute (Bangkok) – 146 million baht.
- Phuket Rajabhat University Dormitory – 132 million baht.
- Provincial Government Complex (Phrae) – 540 million baht.
- Sports Authority Boxing Camp (Bangkok) – 608 million baht.
- Judicial Residences (Songkhla) – 386 million baht.
- Civil & Criminal Courts (Min Buri, Bangkok) – 782 million baht.
- Phuket Electricity Authority Service Center – 210 million baht.
- Naval Ordnance Command Building (Bangkok) – 179 million baht.
- National Water Resources Office Building – 716 million baht.
- Provincial Electricity Authority Academy – 606 million baht.
- Songkhla Hospital Outpatient Building – 426 million baht.
Immigration Raid on CREC-Linked House
On Wednesday, immigration police raided a house in Bangkok’s Din Daeng district believed to be linked to CREC. Authorities found two Chinese nationals and eight Thais, along with a company-registered Toyota vehicle. The property was sparsely furnished, raising further suspicions about its intended use.
Company Defends Construction Standards
The ITD-CREC consortium, responsible for the collapsed State Audit Office, insists its construction materials met all safety standards and were approved before use.
Meanwhile, the Office of the Judiciary also defended the structural integrity of two courthouse projects built by CREC in Min Buri and Songkhla.
As investigations intensify, DSI and other government agencies are under pressure to ensure construction safety and prevent foreign firms from circumventing Thai ownership laws.
