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Published on February 13, 2008

Somprasong Boonyachai, chairman of Shin's group executive committee, said in an interview with the press on Monday that aims to diversify are just at the research level but one of the businesses it is interested in is alternate energy.

He personally hopes that Shin will have one new non-telecom business this year. At the same time, Shin has continued to focus on growing the existing core telecom and media businesses, including its cellular flagship Advanced Info Service (AIS) and Shin Satellite.

Shin pulled out of the budget-airline and personal-loan businesses last year, in line with new major shareholder Temasek Holdings' policy of focusing only on telecoms. But Somprasong said Shin still needed to explore new areas or risk losing business opportunities.

AIS recently signed a memorandum of understanding with its concession owner TOT on the joint development of wireless-fixed line convergent services. The tie-up is expected to lead to their partnership in developing third-generation wireless broadband services.

"Part of growing the existing business is seeking new licences from the national telecom regulator," he said.

When asked if the winds of politics are now blowing in favour of Shin following the formation of the new government, Somprasong said that the group had made it clear since last year that it is a non-political organisation.

Shin was founded by the family of ousted prime minister Thaksin Shinawatra. The family disposed of its 49.6-per-cent stake in January 2006 to a group led by Singapore's state investment arm Temasek Holdings. The deal was worth Bt73 billion, or Bt49.25 per share. Shin's share price yesterday closed at Bt28.50, unchanged from Monday.

Shin's deal with Temasek prompted street protests by activists who regarded the transaction as allowing national telecom concession assets to fall into the hands of a foreign entity.

The protests snowballed and led to the overthrow of the Thaksin government in September 2006 by the Council for National Security. The junta-backed government launched a probe into the alleged use of nominees in the sale.

Two Temasek-linked companies, Cedar Holdings and Aspen Holdings, currently own 54.51 per cent and 41 per cent of Shin, respectively.

Sirivish Toomgum

The Nation