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Pattaya firm hits back at ‘grey Chinese’ money claims
Pattaya firm hits back at ‘grey Chinese’ money claimsLegacyBaidi International (Pattaya) Real Estate Asset Management Co., Ltd. has firmly denied any links to illegal Chinese capital, following swirling allegations and a government inspection that cast a shadow over the firm’s operations.
At a press conference held at its office on Soi Department of Lands, Village 10, company director Kham Sae Yang, flanked by company lawyer Theerathorn Morakotjinda and legal consultant Kanokorn Sawatram, pushed back hard against claims that Baidi International was a nominee company for foreign interests.
“We categorically deny any foreign control. All shareholders and directors are 100% Thai,” Kham declared.
The backlash stems from recent rumours associating Baidi with so-called “grey Chinese” capital—a term often used to describe money from questionable sources. Kham explained the confusion may have originated from Chinese buyers using Thai bank accounts to transfer payments for properties.
“These transactions follow legal banking protocols. We don’t have the authority to investigate the source,” he added.
Of the company’s 86 employees, 76 are Thai nationals. The remaining 10% are foreigners working legally in Thailand. Baidi acknowledged that three Chinese nationals were present during the inspection without valid work permits, but claimed they had already resigned and were only on-site to sort out personal WeChat matters.
Baidi insisted it complies fully with Thai law and expressed frustration over the damage done to its reputation. The firm says the allegations have shaken customer confidence and caused a dip in business.
As a result, Baidi plans to sue media outlets and social media pages responsible for spreading what it calls false and defamatory information.
“Our business includes cleaning services for condos and housing estates, and we’re a licensed real estate brokerage,” said Kham. “All transactions go through our official accounts, with proper deductions for taxes and commissions.”
The company also provides after-sales services including maintenance and cleaning, with a client base stretching beyond Thailand, reported The Pattaya News.
“We are a legitimate Thai company. We’ve done nothing wrong, and we’re cooperating fully with authorities,” Kham affirmed, adding that Baidi is planning to expand to new locations soon.
The story Pattaya firm hits back at ‘grey Chinese’ money claims as seen on Thaiger News.
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