(Jan 16): A Thai construction company under investigation over its role in two fatal crane crashes that killed 34 people earlier this week is seeking investor consent to restructure about US$446 million (RM1.8 billion) of debt. The efforts come a day after the Thai government ordered the nation’s largest construction company by revenue to suspend work at more than a dozen infrastructure projects. Prime Minister Anutin Charnvirakul said on Thursday that his government would terminate Italian-Thai’s contracts of projects where the crane accidents occurred. The crane crash on the expressway on Thursday killed two people, sparking a public outcry and calls from political parties for action against the company. A sustained sell-off in Italian-Thai’s shares has seen its market value shrink to about one billion baht from 12 billion baht in 2021.

Source: The Edge Markets January 16, 2026 06:25 UTC