Shin Corporation

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This article is about the Thai Conglomerate, Shin Corporation, now re branded to InTouch Plc. For the holding company, see InTouch Group. For other uses, see In Touch (disambiguation).
Intouch Holdings PLC
Type Holding company
(Public)
Traded as SETINTUCH, OTC Pink: SHNZY
Industry Conglomerate
mainly in
Information and communications technology
Founded June 21, 1983 (1983-06-21)
Founder(s) Thaksin Shinawatra
Headquarters Phayathai, Bangkok, Thailand
Key people Boonklee Plangsiri, Chairman of the Group Executive Committee and Chairman of the Executive Committee
Products Telecommunications
Media
Aviation
Finance
Advertising
Revenue $534 Million USD (Approximate; Year 2009)
Website www.intouchcompany.com

InTouch Holdings PLC (formerly Shin Corporation, ชิน คอร์ปอเรชั่น) is one of the largest conglomerates in Thailand.

History[edit]

The early years and Shin Corporation: 1983 - 2006[edit]

It was founded in 1983 as Shinawatra Computer by Thaksin Shinawatra, former Prime Minister of Thailand, and took on its later name in 1999, by using the first four letters of his last name. The company grew tremendously under the leadership of Shinawatra.

For its services it received the Royal Warrant on 11 June 2004, which gave it permission to display the royal Garuda emblem in public.[1]

Acquisition and transition to InTouch plc : 2006 - 2011[edit]

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 2006 sale of the Shinawatra family's share caused great controversy in Thailand. The sale was in response to long-standing criticisms that the Shinawatra family's holdings created a conflict of interest for Thai Prime Minister Thaksin Shinawatra. Critics of the sale focused on allegations directed toward Thaksin and a compliant government that the transaction was exempt from capital gains tax, the fact that the Thai company was sold to a Singaporean company, and the fact that the Thai law regarding foreign investments in the telecom sector had been amended just prior to the sale.

The company is linked by stock control to companies including Shin Satellite and Advanced 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, Satellite and International Business, Media and Advertising, and E-Business and others.

As InTouch plc : 2011 - present[edit]

On April 1, 2011 the company change logo and symbol on Stock Exchange of Thailand to (SETINTUCH)[2]

Wireless Telecommunications Business[edit]

Somprasong Boonyachai is a head of this sector. The oldest sector of Shin Corporation, it includes:

Logo of Advance Info Service PCL.

Advanced Info Services Public Company Limited (SET:ADVANC, Common Name: AIS)[edit]

Main article: Advance Info Service

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)

Satellite and International Business[edit]

Damrong Kaseamsej is a head of this sector. It includes:


Thaicom Public Company Limited[edit]

Main article: Thaicom (Company)

Thaicom (SETTHCOM) was 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.

Media and advertising[edit]

Niwatthamrong Boonshongpaisarn is a head of this sector. This sector includes:


ITV Public Company Limited (SET:ITV)[edit]

Main article: ITV (Thailand)

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

SC Matchbox Company Limited (SMB)[edit]

Established in April 1991, SMB operates fully integrated advertising business. Over the years, SMB has experienced high growth in billings and revenues.

E-business and Others[edit]

Arak Chonlatanon is a head of this sector. It includes:

IT Applications and Services Company Limited (ITAS)[edit]

ITAS was first established in January 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.

Teleinfo Media Company Limited (TMC)[edit]

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.

AD Venture Company Limited (ADV)[edit]

ADV engages in developing Internet-related services, such as Internet service via mobile phones, satellites, and Digital TV.

Shineedotcom Company Limited (Shinee)[edit]

Shinee is a service provider of content and application development for online system for wireless communications.

Merry International Investment Corporation (MERRY STAKE)[edit]

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 Company Limited[edit]

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.

Thai AirAsia Company Limited[edit]

Main article: Thai Air Asia

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

Media lawsuit[edit]

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.

[edit]

See also[edit]

References[edit]

  1. ^ "Shin Corporatio celebrates its 21st anniversary with the highest honor from the royal palace". Public Awards. Bangkok: Shin Corporation. June 25, 2004. Retrieved 2011-01-13. "On this auspicious occasion of being granted the Royal Appointment, the Group’s board of directors, the management, and staff are overwhelmed by the kindness of His Majesty the King. To express our gratitude to His Majesty, we all vow to devote ourselves wholeheartedly to our jobs, and to operate our business with honesty and loyalty, in order to help develop the country and improve the living standards of the Thai people. (Mr. Bhanapot Damapong, Chairman of the Board of Shin Corporation plc)" 
  2. ^ "Change of company symbol for "SHIN"". Stock Exchange of Thailand. 1 April 2011. Retrieved 10 May 2011. 

External links[edit]