The Ministry of Labour has said it is ready to cooperate with an inquiry panel set up to investigate allegations the Social Security Office ( SSO ) spent an excessive 7 billion baht to purchase the SKYY9 Centre on Rama IX Road when its claimed appraisal price was 3 billion baht.
Labour Minister Phiphat Ratchakitprakarn said on Wednesday he is ready to cooperate to maintain clarity in the research.
” The order of SKYY9 is ready to get scrutinised. The SSO conducted a research on the order and commissioned independent businesses to calculate the amount and consider whether the order is for investing in”, Mr Phiphat said.
Phiphat: Wants a visible sensor
The secretary added that a deputy permanent director for the Labour Ministry, the SSO’s present secretary-general, and the SSO’s assistant secretary-general was appointed to the seven-member investigation section.
On Tuesday, Prime Minister Paetongtarn Shinawatra said she instructed Interior Minister Anutin Charnvirakul to type an investigation panel to investigate the SSO’s order of the SKYY9 Centre.
Mr Anutin explained that while the SSO is under the Labour Ministry, he even serves as a deputy prime minister who oversees the Labour Ministry.
He said Mr Phiphat has even asked him to investigate the issue.
He added the alleged excessive saving occurred when the present permanent secretary for employment formerly served as the secretary-general of the SSO.
Mr Anutin even said that when the permanent secretary for employment is being investigated, the standard who leads the exploration may carry the same level to ensure a smooth sensor.
The latest permanent secretary for workers, Boonsong Thapchaiyut, who served as the SSO’s secretary-general at the time of the order, on Wednesday refused to comment on the topic.
When asked if the order aligned with the laws, he merely nodded in recognition.
Deputy Commerce Minister Suchart Chomklin on Wednesday dismissed claims by Rukchanok Srinork, a People’s Party MP for Bangkok, that he was involved in the SSO paying unnecessarily to obtain the SKYY9 Centre.
In a message on Facebook on Wednesday, Mr Suchart said that her condemnation amounted to libel. ” Don’t distort the truth by using dirty politicians”, wrote Mr Suchart, who formerly served as a labour minister at the time of the order between 2022-2023.
On Monday, Ms Rukchanok raised concerns about the SSO’s order of the SKYY9 Centre on Rama IX Road, saying the tower was for an estimated 3 billion ringgit, but the SSO bought it for more than twice that amount.
Another Women’s Party MP, Sahassawat Kumkong, said this tower was purchased through a confidence, and about 70 % of the trust was spent on its order.
He said the workers minister at the time was also found to have transferred a close aide to a council directly in charge of expenditure, including purchasing the tower.
Ms Rukchanok claimed on Wednesday that the SSO bought the business that owned the tower. She said the company was found to have a bill of more than 2 billion ringgit.
The SSO’s current secretary-general, Marasri Jairangsee, on Tuesday said the SSO invested in buying the building via the Private Equity Trust, an investment vehicle under the Trust for Transactions in the Capital Market Act, regulated by the Securities and Exchange Commission ( SEC ). She said two separate algorithms certified by the SEC estimated the price of the tower.
She said the value was estimated at 7.3 billion baht based on the money approach solution, but if the price approach is used, the building’s value is estimated at 8 billion baht. However, she said the SSO invested just 6.9 billion baht to purchase the building.
The SKYY9 Centre on Rama IX Road was one of many houses left untouched and abandoned following the 1997″ Tom Yam Kung” financial problems.
Due to the property company’s non-performing product, possession of the tower changed hands many times before it was acquired by Bangkok Commercial Asset Management Plc.
The organization later resold it to a group of companies operating department shops for around 1 billion ringgit. The tower was immediately renovated and renamed I. C. E. Tower.
In 2020, it was sold to Cas Capital ( Thailand ), renovated again, and rebranded as Cas Centre.
After the repairs, its predicted price rose to about 2.2 billion ringgit, while the property on which it stands was valued at 1.5 billion ringgit at the time.
The tower was sold once more in 2022 to a group of private firms. The SSO after set up a personal capital trust to spend about 9.4 billion ringgit in secret companies that are not listed on the stock market.
Of the 9.4 billion baht, about 3 billion baht was allocated for overseas investment, while the remaining 6.9 billion baht was used to purchase the building.
It was later found that a company named AGRE 101 had sold the building to the SSO’s private equity trust. Currently, about 45 % of SKYY9’s space has been rented out. Of this, 25 % is already occupied by tenants, while the remaining 20 % is expected to be occupied within the year.
According to the DDproperty website, the rental fee at SKYY9 was 600 baht per square metre as of March 10.