Police have arrested two suspects over the murder of a Taiwanese tourist found bound and gagged in his hotel room in Bangkok, Thailand.

Police Major General Panthana Nutnart, Deputy Commissioner of the Immigration Bureau, said Burmese national Zwe Lin Pyae, 21, and Cameroonian John Agbor, 40, were detained by police on suspicion of killing Taiwanese Chu Chiang-shen, 48, last week.

CCTV footage shows two people apparently leaving Chu's hotel room at around 1 am, just hours before his body was found by shocked staff on November 16, when his worried friend called the hotel because he could not be reached.

Stacks of fake US dollars were also found in the dead man's safe along with three irons in the room.

Police Major General Panthana said the Immigration Bureau and Metropolitan Police Bureau were verifying the evidence they have gathered. They were also searching for a Thai woman also believed to be involved in the murder.

Officials said Chu had entered Thailand at least once a month, for a total of 22 times, since 2022. He had also served a sentence for human trafficking and fraud in Taiwan, but police said they were still unsure if the case was linked to his death.

Meanwhile, Myanmar national Zwe allegedly told cops that the murder had been arranged by the Thai woman Napattarada Eakpattarahirun, 34, who claimed that the deceased was wealthy and had a criminal record.

Zwe claimed to have stayed at the same hotel to monitor the victim's routine, before the other suspects converged on his room past midnight on November 16.

He added they allegedly ransacked his room and took his valuables, but reportedly left him alive.

Meanwhile, Cameroonian man John Agbor has denied the charges and said he was simply a language teacher at a school in the city.

Police said they were still searching for two suspects - the Thai woman Napattarada, believed to be the mastermind, and a third man, a Vanuatu national who has already left Thailand.