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Thai Shin Corp Q1 profit down 3.2%
Fri, May 15, 2009
Reuters

BANGKOK (Reuters) - Shin Corp, Thailand's leading telecoms group, reported a 3.2 percent fall in quarterly net profit on Friday due to a weak performance at its mobile phone unit, Advanced Info Service.

Shin Corp, controlled by Singapore's Temasek Holdings through two Thai-registered companies, reported a January-March net profit of 1.75 billion baht (S$74.2 million), down from 1.8 billion baht a year earlier but better than a net loss of 342 million baht in the previous quarter.

The results were in line with a forecast of a 1.7 billion baht profit by Kim Eng Securities.

Shin Corp, valued at $1.8 billion on the Thai bourse, groups more than 20 companies in the wireless, satellite,
Internet and media sectors.

AIS, 43 percent owned by Shin Corp, reported an 11 percent fall in quarterly earnings due to the weak economy.

AIS is Thailand's largest mobile phone operator with a market share of about 50 percent.

 

 

 
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