Shin Corporation
Encyclopedia
Shin Corporation is one of the largest conglomerates
in Thailand
.
, former Prime Minister of Thailand
, and took on its current 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.
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.
On April 1, 2011 the company change logo and symbol on Stock Exchange of Thailand
to
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)
s. 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.
Current Managing Director of ITV is Mr.Songsak Premsuk
" telephone directories in Thailand.
, a joint venture with AirAsia Berhad from Malaysia.
Current managing director of Thai AirAsia is Tasapon Bijleveld
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.
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
in Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
.
History
It was founded in 1983 as Shinawatra Computer by Thaksin ShinawatraThaksin Shinawatra
Thaksin Shinawatra is a Thai businessman and politician, who was Prime Minister of Thailand from 2001 to 2006, when he was overthrown in a military coup....
, former Prime Minister of Thailand
Prime Minister of Thailand
The Prime Minister of Thailand is the head of government of Thailand. The Prime Minister is also the chairman of the Cabinet of Thailand. The post has existed since the Revolution of 1932, when the country became a constitutional monarchy....
, and took on its current 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
Garuda
The Garuda is a large mythical bird or bird-like creature that appears in both Hindu and Buddhist mythology.From an Indian perspective, Garuda is the Hindu name for the constellation Aquila and...
emblem in public.
On January 23, 2006, the Shinawatra family sold its remaining 49.6 percent stake in the company to nominees of Temasek Holdings
Temasek Holdings
Temasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion at end of March 2011, focused primarily in Asia...
, the Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
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
Shin Satellite
THAICOM Public Company Limited, was formerly known as Shin Satellite Plc , is Thailand's first satellite operator. It is a subsidiary of Shin Corporation, the biggest telecommunications conglomerate in Thailand...
and Advanced Info Service
Advanced Info Service
Advanced Info Service PCL is Thailand's largest GSM mobile phone operator with 28.8 million customers as of February 2010. Founded in April 1986, AIS started off as a computer rental business...
, the largest mobile phone network in the country. It also holds stakes in Thai AirAsia
Thai AirAsia
Thai AirAsia is a joint venture of Malaysian low-fare airline AirAsia and Thailand's Asia Aviation. It serves AirAsia's regularly scheduled domestic and international flights from Bangkok and other cities in Thailand....
, 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.
On April 1, 2011 the company change logo and symbol on Stock Exchange of Thailand
Stock Exchange of Thailand
The Stock Exchange of Thailand is the national stock exchange of Thailand. It is located in Bangkok. As of 31 December 2007, the Stock Exchange of Thailand had 541 listed companies with a combined market capitalization of $280 billion. The indices of the stock exchange are SET Index, SET50 Index...
to
Wireless Telecommunications Business
Somprasong Boonyachai is a head of this sector. The oldest sector of Shin Corporation, it includes:Advanced Info Services Public Company Limited (SET:ADVANC, Common Name: AIS)
Thailand's largest mobile operator, AIS was originally granted a 20-year mobile concession by the Telephone Organization of Thailand (TOT)TOT (Thailand)
TOT Public Company Limited is a Thai state-owned telecommunications company. Originally established in 1954 and corporatized in 2002, TOT used to be known as the Telephone Organization of Thailand and TOT Corporation Public Company Limited. TOT's main line of business is fixed line telephony,...
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
Damrong Kaseamsej is a head of this sector. It includes:Thaicom Public Company Limited
Thaicom 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 satelliteSatellite
In the context of spaceflight, a satellite is an object which has been placed into orbit by human endeavour. Such objects are sometimes called artificial satellites to distinguish them from natural satellites such as the Moon....
s. 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
Bhumibol Adulyadej
Bhumibol Adulyadej is the current King of Thailand. He is known as Rama IX...
provided a name for the satellite series name, "Thaicom
Thaicom
Thaicom is the name of a series of communications satellites operated out of Thailand and the name of Thaicom Public Company Limited, which is the company that owns and operates the THAICOM satellite fleet and other telecommunication businesses in Thailand and throughout the...
" (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
Niwatthamrong Boonshongpaisarn is a head of this sector. This sector includes:ITV Public Company Limited (SET:ITV)
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)
Established in April 1991, SMB operates fully integrated advertising business. Over the years, SMB has experienced high growth in billings and revenues.IT Applications and Services Company Limited (ITAS)
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)
Formerly known as "Shinawatra Directories Co., Ltd.", TMC is the only printer and publisher of both "white pages" and "yellow pagesYellow Pages
Yellow Pages refers to a telephone directory of businesses, organized by category, rather than alphabetically by business name and in which advertising is sold. As the name suggests, such directories were originally printed on yellow paper, as opposed to white pages for non-commercial listings...
" telephone directories in Thailand.
AD Venture Company Limited (ADV)
ADV engages in developing Internet-related services, such as Internet service via mobile phones, satellites, and Digital TV.Shineedotcom Company Limited (Shinee)
Shinee is a service provider of content and application development for online system for wireless communications.Merry International Investment Corporation (MERRY STAKE)
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
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
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 AirAsiaThai AirAsia
Thai AirAsia is a joint venture of Malaysian low-fare airline AirAsia and Thailand's Asia Aviation. It serves AirAsia's regularly scheduled domestic and international flights from Bangkok and other cities in Thailand....
, a joint venture with AirAsia Berhad from Malaysia.
Current managing director of Thai AirAsia is Tasapon Bijleveld
Media lawsuit
On July 16, 2003, the Thai PostThai Post
Thai Post is a daily Thai-language newspaper in Thailand. It is owned by the Thai Journal Group Co. Its circulation is in the 100,000-150,000 range...
published comments from media rights advocate Supinya Klangnarong
Supinya Klangnarong
Supinya Klangnarong is a Thai media rights advocate and current vice-chair of the . A graduate of Chulalongkorn University, she holds a BA from the Faculty of Communication Arts, a MA from the Faculty of Journalism and Mass Communication at Thammasat University and a MA in Communication Policy...
, 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
Thaksin Shinawatra $1.88 billion deal controversy
The 2006 sale of the Shinawatra family's share of Shin Corporation to Temasek Holdings 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...
in Shin Corp to Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
's Temasek Holdings
Temasek Holdings
Temasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion at end of March 2011, focused primarily in Asia...
, 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.