Multiple probes into Chinese firms behind collapsed high-rise

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Numerous Thai government agencies are investigating two Chinese companies responsible for the construction of the collapsed State Audit Office in Bangkok, with probes expanding to many other related companies, according to the Ministry of Commerce.

Tests done earlier by the Iron and Steel Institute of Thailand indicated that steel supplied to the project by Xin Ke Yuan Steel Co was substandard.

Victor Shih, a specialist in Chinese politics and finance at the University of California, San Diego, told the Times that when a company has such a heavy debt burden, “the pressure to generate cash flow to service debt can be quite intense”.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaMyanmar

Topics: China Other Investigating Companies Department Yuan Office Steel Railway Thai Crec

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-03 @ 14:36:00 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 600 words

Reading Time: 4 minutes read

Sentences: 30 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 27558980

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