Violators of Thailand's new foreign investment law could face up to five years in prison, under a revised version of the proposed amendments approved by the cabinet. The changes would limit foreigners to holding not more than 49 percent of the shares or voting rights in Thai companies. "We added the criminal penalty in order to promote good corporate governance in the business sector,' said Commerce Minister Krirk-Krai Jirapaet. "I personally believe that the amendment will not affect foreign investment in Thailand or investor confidence because direct investment usually focuses on the rate of return and the investment opportunity."
AFX
AFX