True Corporation

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True Corporation
Public
Traded as SETTRUE
Industry Telecommunication
Consumer electronics
Founded 13 November 1990; 27 years ago (1990-11-13)[1]
Headquarters Huai Khwang, Bangkok, Thailand
Area served
Thailand
Key people
Suphachai Chearavanont, CEO
Products Mobile phone
Smartphones
Set-top box
Tablet computer
Services Cable television, Mobile, Internet
Revenue Increase 124 billion baht (2016)[2]
Total assets Increase 449 billion baht (2016)[2]
Number of employees
23,000
Parent Charoen Pokphand Group
Subsidiaries see Subsidiaries
Website www.truecorp.co.th

True Corporation Public Company Limited (TRUE) is a communications conglomerate in Thailand. True controls Thailand's largest cable TV provider, TrueVisions[3], Thailand's largest internet service provider True Internet[citation needed] and one of Thailand's largest mobile operators, TrueMove H, which is second only to AIS having surpassed Dtac in January 2017.[4] As of August 2014, True, along with True Telecommunications Growth Infrastructure Fund, had a combined market capitalization of US$10 billion.[citation needed] TrueMove is also a partner of Vodafone Group.[citation needed]

True is a subsidiary of Charoen Pokphand Group, which holds 50.21 percent of True's shares as of March 2017.[5] It operates fixed-line (as a concessionaire of TOT), wireless, cable TV, IPTV and broadband services.

History[edit]

True Corporation was established in 13 November 1990 as TelecomAsia.[6] The company had partnership with Verizon.[6] The company was listed on the Stock Exchange of Thailand on December 22, 1993 (1993-12-22).[7] In 2001, TelecomAsia set up a mobile phone subsidiary with Orange SA. Orange sold off its stake in 2003 but the Orange brand was used until 2006.[8]

In an effort to converge TelecomAsia's telecommunication business into a single brand, the company renamed itself to True Corporation in 2004,[9] and streamlined its operations with subsidiaries Asia Infonet (renamed True Internet[citation needed]) and Orange (renamed True Move in 2006[10]).

In 2005, True took a higher stake in UBC, Thailand's largest cable television provider that time[citation needed], and renamed the company to UBC-True.[11] On 24 January 2007 UBC-True was renamed TrueVisions.[citation needed]

On 8 May 2013, TrueMove H became Thailand's first mobile operator to provide 4G LTE commercial service on the 2100 MHz bandwidth.[12]

On 11 September 2014, it was announced that China Mobile agreed to purchase 18 percent of its shares for US$881 million.[13][14]

On 13 November 2014, Truemove H announced that it allocated 10 billion baht to expand its 4G LTE network in Thailand to cover 80 percent of the country's population.[15]

In June 2015 Suphachai Chearavanont, True's President and CEO, was presented with the "2015 Frost & Sullivan Asia Pacific Telecom CEO of the Year" award in Singapore for his leadership and achievements in developing the telecommunications industry in the Asia Pacific region.[citation needed] In the same month, Chearavanont was elected president of The Telecommunications Association of Thailand.[citation needed]

Subsidiaries[edit]

True Corporation includes the following subsidiaries:[16]

  • TrueMobile (Mobile telecommunication)
    • True Move Co., Ltd.
    • Real Move Co., Ltd.
    • True Move H Universal Communication Co., Ltd.
    • BFKT (Thailand) Limited
  • TrueOnline (Broadband/fixed line business)
    • Asia Infonet Co., Ltd.
    • Asia Wireless Communication Co., Ltd.
    • KSC Commercial Internet Co., Ltd.
    • MKSC World Dot Com Co., Ltd.
    • True International Communication Co., Ltd.
    • True International Gateway Co., Ltd.
    • True Internet Co., Ltd.
    • True Public Communication Co., Ltd.
    • True Universal Convergence Co., Ltd.
  • TrueVisions (Pay TV business)
    • BEC-TERO True Visions Co., Ltd.
    • Click TV Co., Ltd.
    • Satellite Service Co., Ltd.
    • Thai News Network (TNN) Co., Ltd.
    • True4U Station Co., Ltd.
    • True Visions Plc.
    • True Visions Cable Plc.
    • True Visions Group Co., Ltd.
    • True Vistas Co., Ltd.
  • Content, lifestyle and other businesses:
    • AP&J Production Co., Ltd.
    • Cineplex Co., Ltd.
    • Cj True creation (joint venture with South Korea's Cj E&M)
    • Panther Entertainment Co., Ltd.
    • SM True (joint venture with South Korea's S.M. Entertainment)[17][18]
    • True Digital Media Co., Ltd.
    • True Distribution & Sales Co., Ltd.
    • True IContent Co., Ltd.
    • True Information Technology Co., Ltd.
    • True Life Plus Co., Ltd.
    • True Money
    • True Multimedia Co., Ltd.
    • True Music Co., Ltd.
    • True Music Radio Co., Ltd.
    • True Touch Co., Ltd.
    • True United Football Club Co., Ltd.
    • True Voice Co., Ltd.
    • Transformation Films Co., Ltd.
    • True GS Co., Ltd.
    • Thai Smart Card Co., Ltd.

References[edit]

  1. ^ Annual Registration Statement 2009 (56-1). True Corporation. Retrieved 27 June 2010.
  2. ^ a b "Financial Highlights". True Corporation. Retrieved 14 September 2017.
  3. ^ https://techsauce.co/pr-news/true-digital-park-unveiled-first-set-of-partners/
  4. ^ Barton, James. "True takes second place in Thai market as Dtac profits slump". Developing Telecoms. Retrieved 2018-02-04.
  5. ^ Shareinvestor. "Investor Relations". True. Retrieved 2017-06-08.
  6. ^ a b "PressReader.com - Connecting People Through News". www.pressreader.com. Retrieved 2018-02-04.
  7. ^ "TRUE Company Profile". Stock Exchange of Thailand. Retrieved 3 July 2010.
  8. ^ "TA Orange's strategic partner Orange SA sells off 39% of its 49% stake in the Thai mobile operator to TelecomAsia for a nominal one Baht". Telecom Asia. 2004-04-01.
  9. ^ Suryadinata, Leo (2006). Southeast Asia's Chinese Businesses in an Era of Globalization: Coping with the Rise of China. Institute of Southeast Asian Studies. ISBN 9789812304018.
  10. ^ "Orange reaches use-by date: True Corp's mobile unit renamed True Move". TeleGeography. Retrieved 2018-02-04.
  11. ^ Amnatcharoenrit, Bamrung and Tortermvasana, Komsan (8 November 2005). "True Corp set to take over UBC" Archived 2008-03-11 at the Wayback Machine., Bangkok Post (retrieved 18 July 2006 until 18 August 2015 via AsiaMedia.com).
  12. ^ "True Move H – The First To Offer 4G LTE Service On 2100 MHz In Thailand While Reinforcing Its Leadership As The Largest 3G Operator,". thaipr.net.
  13. ^ Jittapong, Khettiya (June 9, 2014). "China Mobile to buy $881mln stake in Thai billionaire's True Corp". Reuters. Retrieved 11 June 2014.
  14. ^ Phoosuphanusorn, Srisamorn & Leesa-nguansuk, Suchit (June 10, 2014). "China Mobile to buy into True". Bangkok Post. Retrieved June 11, 2014.
  15. ^ "True announced high-speed Internet in Bangkok with all-fiber network in 2 years". Mobileasia.
  16. ^ "Annual Report 2014".
  17. ^ "True Group, in Collaboration with S.M. Entertainment from South Korea,Establishes a Joint-Venture "SM True Co., Ltd."To Bring A New Era of Entertainment to Thailand". True Corporation. Retrieved 16 August 2011.
  18. ^ "S.M. Entertainment establishes joint venture company with Thailand's True Visions Group, 'SM True'". allkpop. Retrieved 16 August 2011.

External links[edit]