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Shin Corporation
From Wikipedia, the free encyclopedia
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This article may require cleanup to meet Wikipedia's quality standards. Please discuss this issue on the talk page or replace this tag with a more specific message. This article has been tagged since March 2006. |
| Shin Corporation | |
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| Type | Public (NASDAQ: SHNZY) |
|---|---|
| Founded | June 21, 1983 |
| Headquarters | Bangkok, Thailand |
| Key people | Boonklee Plangsiri, Chairman of the Group Executive Committee and Chairman of the Executive Committee |
| Industry | Conglomerate focus in Telecommunications |
| Products | Telecommunications, Media, Aviation, Money, Advertising |
| Revenue | 217 Million USD (Approximate; Year 2004) |
| Website | www.shincorp.co.th |
Shin Corporation (SET: SHIN; NASDAQ: SHNZY; NASDAQ: SHNVF; NASDAQ: SHNUF) is one of the largest conglomerates in Thailand. It was founded in 1983 as Shinawatra Computer by Thaksin Shinawatra, former Prime Minister of Thailand, and took on its current name in 1999. On January 23, 2006, the Shinawatra family sold its remaining 49.6 percent stake in the company to nominees of Temasek Holdings, the Singapore government's investment arm, for US$1.88 billion.
The company is linked by stock control to companies including Shin Satellite and Advance Info Service, the largest mobile phone network in the country. It also holds stakes in Thai AirAsia, a consumer finance company and ITV, a local television station. Current Chairman of the Group Executive Committee and Chairman of the Executive Committee is Boonklee Plangsiri.
The company's operations are divided into four lines of business: Wireless Telecommunications Business; Satellite and International Business; Media and Advertising Business; E-Business and others.
Somprasong Boonyachai is a head of this sector. The oldest sector of Shin Corporation, it includes:
Thailand's largest mobile operator, AIS was originally granted a 20-year mobile concession by the Telephone Organization of Thailand (TOT) on March 27, 1990. On September 26, 1996, an additional five years were granted whereby extending the concession life to 25 years, which would expire in the year 2016. The Memorandum of Agreements attached thereto is based on "Build-Transfer-Operate" (BTO) principle. Products: GSM Advanced Evolution (Postpaid, 900 MHz), GSM 1800 (Postpaid, 1800 MHz), One-2-Call (Prepaid,900 MHz), Swasdee (Prepaid, 900 MHz) and Mobilelife (Mobile Content Services)
Damrong Kaseamsej is a head of this sector. It includes:
Originally called Shinawatra Satellite, Shin Satellite Public Company Limited was founded in 1991 after it was granted a license from Thailand's Ministry of Transport and Communications permitting it to launch and operate satellites. It was the first company in Thailand to be allowed to do this, and the first privately owned satellite company in Asia. King Bhumibol Adulyadej provided a name for the satellite series name, "Thaicom" (it comes from "Thai Communications"), symbolizing the link between Thailand and modern communications technology. Shin Satellite has five satellites in geostationary orbit: Thaicom 1, Thaicom 2, Thaicom 3, Thaicom 4 or IPSTAR, and recently launched Thaicom 5, with corresponding Thai-based customer service facilities.
Niwatthamrong Boonshongpaisarn is a head of this sector. This sector includes:
Primary company of this sector. Formerly name is "Siam Infotainment Company Limited". ITV was granted a 30-year concession by the Office of the Permanent Secretary to the Prime Minister's Office in 1995 to operate a free-to-air television station in the Ultra High Frequency (UHF) spectrum at 510-790 MHz.
Current Managing Director of ITV is Mr.Songsak Premsuk
Established in April 1991, SMB operates fully integrated advertising business. Over the years, SMB has experienced high growth in billings and revenues.
Arak Chonlatanon is a head of this sector. It includes:
ITAS was first established in January of 2000 to provide application services for SHIN and its subsidiaries. After certifying as SAP National Implementation Partner, ITAS has offered its services to external customers and from then on ITAS has added more to its services line as in E-Business Products and Services.
Formerly known as "Shinawatra Directories Co., Ltd.", TMC is the only printer and publisher of both "white pages" and "yellow pages" telephone directories in Thailand.
ADV engages in developing Internet-related services, such as Internet service via mobile phones, satellites, and Digital TV.
Shinee is a service provider of content and application development for online system for wireless communications.
MERRY is a holding company, registered in the Republic of Mauritius with registered capital of USD 100,000 with a paid-up capital of USD 1.
Capital OK is a company provided financial services such as Personal Loan, Credit Card and Digital Cash Card by its subsidiary, Payment Solution Company Limited. It is a joint venture with DBS Bank of Singapore.
Shin Corporation holds a 49% share in a company called Asia Aviation, which in turn holds a 50% stake in the low-cost airline Thai AirAsia, a joint venture with AirAsia Berhad from Malaysia.
Current managing director of Thai AirAsia is Tasapon Bijleveld
On July 16, 2003, the Thai Post published comments from media rights advocate Supinya Klangnarong, who said that the Shin Corporation, at the time majority owned by the family of Thai Prime Minister Thaksin Shinawatra had benefited because of favorable policies by the Thaksin government.
Shin Corporation sued for libel in criminal court and sought 400 million baht in compensation in a civil lawsuit. Supinya and the Thai Post were named as co-defendants.
After the Thaksin family sold its shares in Shin Corp to Singapore's Temasek Holdings, the company offered to drop the lawsuit on the condition that Supinya apologize for her comments. Supinya refused the offer.
On March 14, 2006, the Criminal Court threw out the criminal lawsuit, saying the article in the Thai Post was presented in good faith and in the public's best interest. On May 8, 2006, Shin Corp. asked that the civil lawsuit be withdrawn. Neither Supinya nor Thai Post had any objections, so the court withdrew the civil suit.