Shin to focus on telecom, media, and advertising

But he declined to specify which new business Shin is eyeing and whether the company would invest in one this year. Shin has a cash flow of about Bt1.5 billion.

Somprasong officially took office this week, after years as CEO of Shin flagship Advanced Info Service (AIS). At his first press conference as Shin's chief yesterday, he also insisted that the group was now politicsfree and would focus on its business.

Established by former prime minister Thaksin Shinawatra, Shin Corp has been a political target since Thaksin's family sold off its shares in the company. To clear the politically linked image, Somprasong became the company's chief executive to replace Boonklee Plangsiri, a righthand man of Thaksin.

Shin's core businesses include AIS, Shin Satellite (ShinSat), Internet service provider CS Loxinfo, directory book publisher Teleinfo Media, and advertising firm SC Matchbox.

Shin is in the process of reducing its shares in its consumerfinance firm Capital OK by either seeking a strategic partners or divesting all its 99 per cent share in the company.

"Capital OK is in talks with many companies about the matter and the final outcome is most likely to be wrapped up this year," said Arak Chonlatanon, chairman of media and advertising businesses. "We might sell all shares in Capital OK if the potential buyer offers the best price."

Somprasong added that Shin had no plans to reduce its 41.32percent stake in ShinSat, given that the company is part of its core business.

There has been public criticism that national assets like ShinSat satellites are under the control of a foreign entity, namely the group led by Singapore's state investment arm Temasek Holdings, which controls 96 per cent of Shin.

Somprasong argued that ShinSat is mainly owned by Thais and that its concessions are owned by the Information and Communications Technology Ministry.

 The Shinawatra family disposed of its combined 49 per cent stake to the Temasekled group in January last year.

 As for the media business, Somprasong said Shin would focus on developing digital media by capitalising on the group's telecom businesses.

Usanee Mongkolporn

Sirivish Toomgum