Thaicom can get overseas satellite

Thaicom pays 17.5 per cent of its annual satellite-service revenue as concession fees, which last year amounted to Bt425.2 million.

The ministry will seek Cabinet approval for the move shortly.

Thaicom has been operating Thaicom 1, 2 and 5 broadcasting satellites as well as the iPSTAR broadband satellite. With the lifespan for Thaicom 1 ending in several months, the company has been gradually moving its customers to Thaicom 5. And with Thaicom 2 due to expire next year, the company plans to charter a foreign satellite's transponder capacity.

Thaicom executives declined to comment on the ministry's approval, because the company plans to first discuss the deal with potential foreign satellite operators provided the Cabinet okays it first.

Shin Corp owns 41 per cent of Thaicom. Its share price closed at Bt3.18 yesterday, up 9.7 per cent.