The source said M-Link had approached several companies, including Samart Corp Plc, to take over its subsidiary Portal Net, which bids for the state projects.

M-Link was co-founded by Thaksin's younger sisters Monthatip Kovitcharoenkul and Yaowapa Wongsawat.

The source said M-Link wanted to avoid any possible ill-effect from the current government crisis.

Samart Corp president Watchai Wilailuck declined to comment on the matter, saying only that the company was interested in several projects but could not give out details.

"It depends whether they are promising enough or the prices are right, and we expect to conclude some deals within this year," he said.

Samart subsidiary Samart Telcoms Plc is also a bidder for state contracts.

Pholnarong Watthanaphothithorn, M-Link's vice president for marketing, said yesterday he did not know whether the company wanted to sell off Portal Net.

Portal Net is part of a consortium that landed a Bt3-billion contract to upgrade the Provincial Electricity Authority's information systems. The company has put in Bt2 billion in advance on the project and will realise revenues of Bt50 million monthly for five years, starting from next March.

"It's unlikely M-Link will pull out of the bidding business when it has spent a great deal on the project and will realise revenues soon," Pholnarong said.

Two years ago, Portal Net won a Bt226-million contract to supply radio communications systems to the new Suvarnabhumi Airport.

Citing a lack of viability, M-Link had said earlier it would switch its focus from bidding for state projects to its main business of retailing handsets.

M-Link was also in talks with Samart, another major handset distributor, on merging their handset distribution businesses before the talks were scrapped.

M-Link has been under close public close scrutiny over whether it capitalises on political ties to bag state projects, while its management has insisted it had nothing to do with Thaksin.

The premier has also been under closer public scrutiny after his family sold off their majority 49.6-per-cent stake in Shin Corp Plc to a business group led by Singapore's state investment arm Temasek Holdings in January.

The deal caused public outrage that snowballed into near daily protests demanding Thaksin's resignation.

Samart Telcoms shares closed at Bt9.95 yesterday, down from Bt10, while M-Link remained unchanged at Bt2.34.

Telecom Reporters

The Nation