Thai Commerce Ministry plans nominee checks on 44 more firms
The Commerce Ministry has sent findings on four Prachin Buri firms to investigators and is preparing checks on 44 foreign-shareholding waste businesses.
- Thailand's Commerce Ministry is preparing to inspect 44 more waste-related companies in Prachin Buri for the potential use of illegal nominee shareholders.
- This expanded probe follows initial checks that identified four other firms already suspected of using Thai nationals as nominees for foreign owners.
- The 44 "at-risk" companies, all of which have foreign shareholders, were identified by the Department of Business Development's (DBD) data analytics system.
- The original investigation was prompted by media reports of an e-waste factory causing pollution, which raised concerns about illegal foreign ownership structures.
Thailand’s Commerce Ministry is preparing to inspect 44 more waste-related companies in Prachin Buri after preliminary checks identified four firms suspected of using Thai nominee shareholders. Kittiwat Patchimnan, director-general of the Department of Business Development (DBD), said the expanded inspections would cover businesses with foreign shareholders.
The DBD identified the 44 companies as an at-risk group using information from its Intelligence Business Analytics System (IBAS), which analyses corporate behaviour.
The Prachin Buri screening covers 41 limited companies operating in the non-hazardous waste sector. Foreign shareholders hold less than 50% of the shares in 37 of these companies and at least 50% in the remaining four.
In Prachin Buri’s hazardous waste sector, the DBD identified three limited companies with foreign shareholders. Two have foreign shareholdings below 50%, while one has foreign ownership of 50% or more.
Kittiwat said officials were preparing to conduct on-site inspections of the businesses flagged for possible nominee arrangements. Any unlawful activity uncovered would be subject to strict enforcement by the agencies responsible.
Four firms referred for nominee investigations
The Prachin Buri Provincial Commerce Office and law enforcement agencies initially inspected businesses following media reports alleging that an electronic-waste recycling factory in the province had breached the law and caused widespread pollution affecting residents and local ecosystems. The reports also raised concerns about the possible use of Thai nationals as nominees.
The provincial inspections identified four companies whose conduct suggested possible nominee arrangements. The Prachin Buri Provincial Commerce Office forwarded the findings to relevant law enforcement agencies for investigation and potential prosecution, including examination of financial transactions involving Thai shareholders suspected of acting as nominees.
Kittiwat said the Commerce Ministry had examined the companies’ registration histories, invested capital, shareholder structures and actual management control. The examination also covered links to other legal entities that might be involved in the use of Thai nominees.
“Preliminary checks found four companies whose conduct suggests the use of Thai nominees,” Kittiwat said.
The DBD’s work includes identifying suspected nominee businesses within its statutory powers and coordinating with relevant authorities to investigate potential offences and enforce the laws administered by each agency.
Nationwide records show 2,863 waste firms with foreign shareholders
The DBD’s nationwide records show that 2,863 limited companies operating in waste-related sectors had foreign shareholders as of September 30, 2026.
In the non-hazardous waste sector, the DBD recorded 2,568 limited companies with foreign shareholders. Foreign shareholdings were below 50% in 2,438 companies and at least 50% in 130.
In the hazardous waste sector, the DBD recorded 295 limited companies with foreign shareholders. Of these, 288 had foreign ownership below 50%, while seven had foreign shareholdings of 50% or more.
Members of the public can report suspected nominee businesses through the Department of Business Development website under its nominee tip-off section. Further information is available from the department’s Illegal Business Prevention and Suppression Division on 02 547 4419 or 1570.
