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Mon, March 26, 2007 : Last updated 20:08 pm (Thai local time)



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Home > Business > Shin Corp will stay out of politics, chief pledges





TELECOMS/SATELLITE
Shin Corp will stay out of politics, chief pledges

Somprasong says it is time for fresh start at firm started by ex-PM Thaksin's family

Somprasong Boonyachai insists that the Shin Corp group under his leadership will be a politics-free zone, ending years of intrigue and controversy.

Shin's executive chairman designate told The Nation that the group from now on would stay away from the murky world of politics.

"If you want to run a business to achieve long-term success, you have to make your position clear, which involves upholding good leadership and avoiding political involvement and comment and the patronage of any government. I think it's time for Shin to make a fresh start," he said.

He admitted that he took a conservative attitude and concentrated on long-term success.

When asked how the company founded by the family of ousted prime minister Thaksin Shinawatra could shed its political associations, Somprasong said the best way was for him as group leader to stand firm on his no-politics stance.

"If the top management refrains from getting politically involved, the other executives will do the same. We used to be like a pine tree bent by the storm, but now we'll stand firm," he said.

His policy seems to echo the attempt of Shin's major shareholders to steer the group away from the shadow of Thaksin, who was overthrown by the military-backed Council for National Security last September.

The Shinawatra family disposed of its controlling stake in Shin in January last year to the group led by Singapore's state investment arm Temasek Holdings, which triggered street protests by campaigners who saw the transaction as selling off national telecom assets to a foreign entity.

The government is examining whether the Kularb Kaew company, part of the Temasek-led group in the deal, was a nominee for the takeover of Shin by Temasek.

"We'll take the job security of our 10,000 employees in the group into account before we do anything. That is another key in my policy," Somprasong said.

Last week Shin's board announced the promotion of Somprasong to two positions, its new executive chairmanship, replacing Boonklee Plangsiri, and its acting presidency, replacing Siripen Sitasuwan.

Shin has also tipped Vikrom Sriprataks to move from AIS chief technology officer to chief executive, replacing Somprasong at AIS. Their appointments will take effect on July 1.

Boonklee and Siripen will continue to serve on Shin's board of directors.

"Vikrom is the most senior executive with a good technological background in AIS. I'll soon find an insider to be acting president of Shin," Somprasong said.

Shin's businesses range from a cellular service to a satellite business and a budget airline. AIS has the largest subscription base of over 20 million subscribers.

Somprasong said he would spend time learning the ropes from Boonklee until July.

"My goal is to make everyone happy, customers, creditors and shareholders. Creditors can be sure that we will always pay our debts, shareholders can be sure that they will get their dividends, and we'll give customers the best service," Somprasong said.

Usanee Mongkolporn

The Nation








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