Company management confirmed a spending increase of more than Bt200 million on advertising for government projects would be booked in the second half this year.

In addition, higher spending to advertise the election is expected in the fourth quarter.

Uncertainty about the future of TITV should mean a windfall for the channel. Currently, MCOT is concentrating on the television side of its business where revenues have fallen significantly since the start of this year. Radio may not see significant growth after a lack of direction over the past few quarters, but it should be stable this year amidst a general decline in the industry.

A new programme schedule beginning in July is expected to result in higher ratings.

The channel's current advertising rates are cheap and, with plenty of time slots available, an earnings rebound appears likely next year.

Risk factors include a drop in viewer ratings and lower advertising revenue because of competition, a slowing economy, reduced government advertising spending and the establishment of the National Broadcasting Commission.