Shin takes a kicking in the bottom line for 4Q, but annual profit gets a leg-up

23 Feb 2009

Thai communications group Shin Corp, controlled by Singapore’s Temasek Holdings, has posted a net loss of THB342 million (USD10 million) in the fourth quarter of 2008 due to lower profits at its domestic mobile subsidiary Advanced Info Service (AIS) and losses from its satellite operations. The negative figure compared with a net profit of THB730 million in October-December 2007. However, for full-year 2008, Shin’s net income soared to THB5.65 billion, up from THB960 million the year before. AIS, which previously reported its results separately, contributes more than 80% of Shin’s profit. In Cambodia, Shin’s telecoms revenue from subsidiary Camshin increased as a result of a subscriber base that rose 93.8% to 921,205 in 2008. At the group’s Laos unit, Lao Telecommunications Company (LTC), total telephony subscribers , including mobile and fixed line, increased 22.7% to 964,518 in 2008, primarily due to a significant growth rate of mobile GSM pre-paid users which increased by 25.5% to 868,622 in the year, and CDMA subscribers which increased by 16% to 29,620. Shin Corp comprises more than 20 companies in the wireless, satellite, internet and media sectors.

Cambodia, Laos, Thailand, InTouch (formerly Shin Corporation), Lao Telecommunications Company (LTC), Mfone (formerly Camshin)