“Napinthon” Reveals Preparedness to Provide China Railway Shareholder Data to DSI

Bangkok: "Napinthon" has announced his readiness to submit shareholder information documents for China Railway Company to the Department of Special Investigation (DSI) as evidence to confirm nominee suspicions without needing face-to-face meetings. He is also set to investigate 37 companies sharing the same shareholders, with plans to scrutinize partner companies that have consistently participated in project bids. According to Thai News Agency, Mr. Napintorn Srisanpang, Deputy Minister of Commerce, discussed the investigation's progress regarding China Railway Number 10 Company. The probe revealed three Thai shareholders possibly lacking the proper qualifications. While there are grounds to suspect these individuals are nominees, Thai law requires evidence to substantiate such claims. Mr. Napintorn emphasized the necessity of examining documents like tax payments and bank accounts to confirm genuine investments. Regardless of any concealment efforts, linked evidence would enable action. The DSI has classifi ed this as a special case, with expected charges to follow soon. Mr. Napinthorn further elaborated on the investigation into China Railway Company's shareholders, noting that major shareholders, holding 49% of the shares, are Chinese. The critical issue lies in verifying whether the remaining 51% of Thai shareholders have genuinely invested in the shares. Preliminary information suggests these shareholders might be nominees. The DSI and the Anti-Money Laundering Office bear the responsibility of gathering all necessary documents and evidence for assessment. The Department of Business Development, Ministry of Commerce, along with seven other agencies, will supply shareholding documents to the DSI, ensuring evidence is indisputable for prosecution. Regarding the 37 other companies linked to China Railway Co., Ltd. through common shareholders, Mr. Napinthorn assured that the Department of Business Development would investigate 13 of these companies to provide information to China Railway Co., Ltd. for submissi on to the DSI. Concerns have arisen about potential government official involvement benefiting these companies. The DSI is examining the joint venture companies, as China Railway Co., Ltd. has bid for all projects through them. The investigation aims to determine the joint ventures' involvement and shareholding details.