Dividend windfall
The two subsidiaries of Singapore's Temasek Holdings that recently took over Shin Corp Plc stand to earn nearly Bt4 billion in dividends.
Cedar Holdings and Aspen Holdings now own 96.12 per cent of Shin Corp, or around 2.9 billion shares. They bought 49.6 per cent of the company on Jan 23 and another 46.5 per cent in a tender offer completed on March 9. In addition, the two companies spent Bt4.57 billion to buy 159.12 million units of Shin warrants at Bt28.75 each. On March 1, Shin said it would pay an interim dividend of Bt1.35 per share for its operations in the second half of 2005. A local broker, who asked not to be named, said Advanced Info Service, of which 42.8 per cent is held by Shin, would pay a final dividend of Bt3.3 per share for its earnings in the second half of 2005, while Shin's indirect affiliate, CS Loxinfo Plc, would pay an interim dividend of 0.33 per share. Siriporn Chanjindamanee The Nation
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