Company Directory - Italian-Thai Development Public Company Limited
Company Details - Italian-Thai Development Public Company Limited
Italian-Thai Development Public Company Limited
WebsiteBangkok, Thailand
Italian-Thai Development Public Company Limited is a leading construction and property development company in Thailand. The company is known for executing large-scale public and private construction projects, including the State Audit Building project.
CCI Score
CCI Score: Italian-Thai Development Public Company Limited
-34.05
0.02%
Latest Event
Investigation into State Audit Building Collapse Involving ITD
Following a devastating earthquake in Myanmar, a 30‐story under-construction skyscraper in Bangkok, part of the State Audit Building project jointly developed by Italian-Thai Development and a Chinese state-owned firm, collapsed. The incident, which resulted in multiple fatalities and missing persons, has prompted Thai authorities to launch an investigation into possible shortcomings in building design, material quality, and approval processes.
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TOADIE
Italian-Thai Development Public Company Limited is currently rated as a Toadie.
Latest Events
- MAR282025
Following a devastating earthquake in Myanmar, a 30‐story under-construction skyscraper in Bangkok, part of the State Audit Building project jointly developed by Italian-Thai Development and a Chinese state-owned firm, collapsed. The incident, which resulted in multiple fatalities and missing persons, has prompted Thai authorities to launch an investigation into possible shortcomings in building design, material quality, and approval processes.
- APR102024
Amid a reported cash flow crisis, Italian-Thai Development (ITD) has been noted for not fully paying some employees' salaries. This occurs in the context of efforts to secure additional bank financing, negotiate extended debenture payments, and restructure its debt to continue operations.
-40
Labor Relations and Human Rights Practices
March 31
The article highlights that some employees have not received their full salaries amidst the company's cash flow issues. This neglect of fair labor practices undermines worker rights and represents a concerning lapse in ethical responsibility, which negatively impacts the company's record from an anti-fascist, pro-worker perspective.
Italian-Thai Development upbeat on funds to wrap up projects
- MAR252024
On March 25, 2024, the Minister of Labor announced that Italian-Thai Development Public Company Limited will settle outstanding wage arrears by paying over 30 million baht to 6,626 employees. The move, resulting from discussions with labor inspectors amid a liquidity crisis, aims to protect the rights of both Thai and migrant workers.
+80
Labor Relations and Human Rights Practices
March 31
By agreeing to pay more than 30 million baht to settle wage arrears affecting 6,626 workers, Italian-Thai Development has taken a positive step toward upholding labor rights. The resolution, supported by labor inspectors and announced by the Minister of Labor, not only addresses a critical financial and rights-based issue but also reinforces commitments to fair labor practices and social justice.
- MAR252024
Italian-Thai Development Public Company Limited is facing a severe financial crisis marked by deferred bond repayments and serious delays in wage payments for over 20,000 workers, prompting government intervention and urgent negotiations with banks to secure a liquidity lifeline.
-60
Labor Relations and Human Rights Practices
March 31
The prolonged delay in wage payments and the resulting government intervention highlight significant failures in upholding fair labor practices and protecting workers’ rights. With over 20,000 employees affected, this mismanagement undermines ethical business conduct and worker welfare.
Giant Italian-Thai firm fights for survival and to pay wages
- MAR142024
Italian-Thai Development is facing a B108bn debt crunch, resulting in delayed payments to workers and contractors. The company has also requested an extension for its financial statement filing as it seeks new loans to manage its liquidity crisis.
-75
Labor Relations and Human Rights Practices
March 31
The report highlights that Italian-Thai Development has been unable to pay full salaries to some employees amid a massive debt crisis. This failure to uphold fair labor practices undermines worker rights and signals broader issues in the company's business practices during its financial distress.
Italian-Thai Development faces B108bn debt crunch as overseas projects fail
- MAR132024
Italian-Thai Development (ITD) acknowledged a liquidity crunch in a letter to the Stock Exchange of Thailand, confirming delays in paying workers that led some to quit, though efforts have been made to convince them to return with partial salary payments pending new bank loans.
-40
Labor Relations and Human Rights Practices
March 31
The article details ITD's financial distress leading to delayed wage payments and worker resignations, highlighting significant labor relations issues. While ITD has taken some remedial action by partially paying wages and persuading workers to return, the incident exposes flawed labor management and reliance on precarious financial bailouts, which compromises worker rights.
ITD tells SET it is begging for bank bailout, hopes to be financially secure soon
- MAR132024
Italian-Thai Development Public Company Limited is in talks with banks for new loans to address a liquidity crisis that resulted in delayed payments to workers and contractors, raising concerns about its labor practices.
-70
Labor Relations and Human Rights Practices
March 31
The liquidity crisis has led to delayed payments to workers and contractors, which undermines fair labor practices and negatively impacts worker rights. This incident reflects a lapse in the company’s responsibility towards its employees, particularly impacting marginalized labor forces.
Thai Contractor Faces $3 Billion Debt Crunch as Some Overseas Projects Fail
- DEC012021
A previous incident involving former President Premchai Karnasuta, a top executive at Italian-Thai, saw his conviction in December 2021 for wildlife poaching—an event that significantly tarnishes the company’s ethical credentials and reflects broader issues of corporate misgovernance.
-40
Business Practices and Ethical Responsibility
March 31
The conviction of a top executive for wildlife poaching signals a serious breach in ethical leadership and corporate responsibility. Such misconduct not only undermines public trust but also reflects a broader disregard for ethical business practices.
Giant Italian-Thai firm fights for survival and to pay wages
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