It also demanded Bt600 million as compensation for assets the former broadcasting firm has failed to transfer to the PM's Office.

Out of the total claim, Bt2.89 billion was for overdue concession payments, Bt570 million for interest on the overdue payments and Bt97 billion for the fine that iTV has to pay for violating concession terms.

Banlang Pinsakol, the public prosecutor assigned by the Office of the Permanent Secretary of the PM's Office to process the filing, said that in the 10th year of the concession, iTV was required to deliver assets worth Bt4.5 billion to the PM's Office.

However, the assets it handed to the office in the year were worth only Bt3.9 billion, so the station owes the office Bt600 million.

HCPT in I'nesia

Hutchison Charoen Pokphand Telecom (HCPT) Indonesia became the latest newcomer to Indonesia's already crowded cellular communications industry after it rolled out its nationwide GSM-based services on Thursday, The Jakarta Post reported yesterday.

HCPT Indonesia, a subsidiary of Hong Kong-based global cellular giant Hutchison Telecommunications International and Thailand's agro-industry group Charoen Pokphand, will initially provide network coverage on Indonesia's most populated island of Java before expanding it to Bali in June and Sumatra, Kalimantan and Sulawesi by next year.

Potential growth in mobile communications has encouraged the company to invest US$400 million (Bt14 billion) so far on its initial start-up here. This figure will rise to up to $1 billion by next year.

It will have to compete with existing and already established local giants Telkomsel, Indosat and Excelcomindo, as well as CDMA-based operators Mobile8, Bakrie Telecom and Telkom, all of which are engaged in a fierce services and price war.

Ratings agency

Tris Rating has maintained its "A" ratings for Thanachart Bank (Tbank), Thanachart Capital (Tcap) and their issues, following Tbank's agreement with Scotiabank.

In a statement, Tris expects that after the transaction is completed, Tbank's capital structure will be strengthened. However, consent by the Bank of Thailand is crucial to the success of the deal because regulations limit foreign shareholdings.

Currently, Tris has assigned both Tbank and Tcap company and issue ratings of "A", with "stable" outlooks.