BANGKOK – Xin Ke Yuan Steel Ltd, the producer of steel bars used in the State Audit Office (SAO) building that collapsed last week, also supplied steel products for the China-Laos railway project, a source revealed on April 2. These samples were traced back to Xin Ke Yuan Steel, whose factory in Rayong province was ordered to close in December 2024. Despite the closure, it was reported that the factory still had around 2,000 tonnes of steel products in stock. Xin Ke Yuan Steel was registered on Feb 23, 2011, with a current capital of 1.53 billion baht (S$60 million). The company’s 2023 financial report shows total assets of 8.63 billion baht, liabilities of 2.69 billion baht, total revenue of 16.32 billion baht, expenses of 15.37 billion baht, interest payments of 54.14 million baht, corporate tax of 131.92 million baht, and a net profit of 772.32 million baht.