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Only 1 building fell in Bangkok during Myanmar quake: About the China construction firm in focus
A 33-storey building in Bangkok collapsed when earthquake hit Myanmar on Friday, which has caused over 1,700 deaths so far.
At least 18 people have been killed after a 33-storey under construction building collapsed in Thailand's Bangkok on Friday when a massive 7.7 magnitude earthquake hit neighbouring Myanmar. Apart from those who have died, 33 people have been injured and 78 are still missing in Bangkok.
The quake that hit Myanmar on Friday, one of the worst the region has ever seen, has resulted in over 1,700 deaths so far.
While the majority of the people who died in Bangkok’s building collapse were workers, several people missing are believed to be trapped under the massive pile of debris at the collapse site, says an AFP report.
What sticks out is the fact that while the city of Bangkok dons multiple skyscrapers, no other building suffered such a harm, raising questions on the quality of construction and manufacturers of the building. A Chinese firm behind the construction of the fallen skyscraper has come under fire as Thailand's deputy prime minister Anutin Charnvirakul has ordered an investigation into the matter.
Who was constructing the Bangkok building
According to a report by The Telegraph UK, the collapsed building was part of Thailand's State Audit Office and was under construction for three years. It was being constructed at an estimated cost of over two billion Thai baht (around $58 million).
The project was a joint venture between Italian-Thai Development Plc and China Railway Number 10 (Thailand) Ltd, according to the local media. The latter company’s largest share, constituting 49% of the total shares, is owned by China Railway Number 10 Engineering Group Company. This is the maximum stake any foreign company can hold in a Thai company as per the country’s law.
The company’s Thailand subsidiary was established on August 10, 2018. It is a construction contractor for office buildings, residential buildings, railways, public roads, and more with a registered capital of 100 million baht, according to local Thai media.
In 2023, China Railway Number 10 Thailand reported a massive net loss of 199.66 million baht while it earned a revenue of 206.25 million baht and expenses of 354.95 billion baht, says a report by Thailand’s local news outlet The Nation.
Apart from its Chinese owner, the company also has three Thai shareholders on its cap table, including - Sophon Meechai, the second-largest shareholder with 40.80 per cent shares, Prachuab Sirikhet with 10.20% shares, and Manas Sri-anant with just three shares.
Investigation into collapse
Thailand’s deputy prime minister Anutin Charnvirakul launched an investigation into the collapse on Saturday and has asked for a report within a week. “I’m appointing the investigating committee. I’ve given them seven days to report back as to what’s going on and what caused the falling down,” he was quoted as saying by The Telegraph UK.
Prof Suchatchavee Suwansawas, a civil engineer and politician from the Democrat Party, also told The Telegraph UK that something was definitely wrong. “You see all other buildings, even high-rise buildings under construction, they’re safe. So either the design was wrong or construction was wrong, but it’s too soon to reach conclusions,” he said.
