Don't link Sino-Thai Tower to scammers: PM

PRIME Minister Anutin Charnvirakul this afternoon (Oct. 24) clarified that Sino-Thai Tower office building on Sukhumvit 21 road (Asoke) rents out space and should not be linked to scammers after the Department of Special Investigation (DSI) raided a tenant, Prince International Co., Ltd., Naewna newspaper said.

Earlier Prince International Co., Ltd., which operates a real estate brokerage business, clarified that it is a completely different company and unconnected to Prince Group, a Cambodian company run by Cambodian and UK national Chen Zhi, aka Vincent, and sanctioned by US and UK for its alleged involvement in large-scale online scams and human trafficking.

The 29-storey Sino-Thai Tower was built by Sino-Thai Engineering & Construction Plc (STECON) whose founder is Mr. Chawarat Charnvirakul, Prime Minister Anutin’s father.

Anutin said anyone can rent space at Sino-Thai Tower but those who break the law will be prosecuted.

Moreover he has told his relatives that if Prince International Co., Ltd. is involved with scammers then they need not renew the lease and the company would then have to leave.

“It’s an unrelated business,” he said.

Asked about Vorapak Tanyawong resigning as deputy finance minister in the face of allegations that he had been somehow connected with an international business conglomerate allegedly involved in Cambodia-based scammer rackets, Anutin replied that they had spoken and reached an understanding.

When asked if anyone was concerned about ethical issues, Anutin just said no.

When asked if he was afraid of being sued, Anutin replied, “I’m not afraid. We’re investigating everything. Right now, there are allegations. They don’t have any cases, right? If there are grounds, prosecute.”

Questioned if a letter of clarification had been sent to him, Anutin replied that it arrived two to three days ago.

This morning the DSI team visited Prince International Co., Ltd.’s office to question the company’s two Thai shareholders, Mr. Paritwat (surname withheld) and Mr. Wutthichai, and obtain documentary evidence. Mr. Wang Yu Tang, a Chinese (Taiwanese) national, is listed as the sole director.

The two Thais were to be asked about the background of this company’s business operations, its past performance, and whether it has any relationship with the Prince Group or holds shares in other companies.

Prince International Co., Ltd. registered on September 1, 2022, with a current capital of 2 million baht. It operates a real estate brokerage business. The latest shareholder list, submitted on April 30, 2025, shows that Wang Yu Tang, the sold director, holds the largest stake at 49%. The other three Thai shareholders listed here are Phiphob with 21%, Paritwat with 20%, and Mr. Wutthichai with 10% but latter later resigned leaving Wang Yu Tang as the sole director.

The company’s business objective, as shown in its financial statements from 2022, indicate that it engaged in the sale of goods imported from Japan, such as jewellery, clothing and dried food. However in 2023, this was changed to retailing other goods in general stores. On August 13, 2024, it was changed again becoming commission real estate agents and then on June 15 this year it became a real estate brokerage.

The company has submitted financial statements for the past three years, as follows: In 2022 its assets totalled 1,006,266 baht, liabilities added up to 44,000 baht, revenue reached 6,266 baht, expenses amounted 44,000 baht, it suffered a net loss of 37,733 baht.

The 2023 financial statements reported total assets of 729,345 baht, total liabilities of 18,888 baht, total revenue of 10,000 baht, total expenses of 1,261,810 baht, and a net loss of 1,251,810 baht.

The 2024 financial statements reported total assets of 1,521,851 baht, total liabilities of 5,096,157 baht, total revenue of 858,415 baht, total expenses of 5,072,286 baht, and a net loss of 4,284,763 baht.

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DSI team at Sino-Thai Tower to question shareholders of Prince International Co., Ltd. Photos – Naewna

Insert: Prime Minister Anutin Charnvirakul. Photo – Amarin TV