The Thai government may attempt to buy the nation's largest satellite and mobile phone operators, which were sold by investors -- including the family of deposed prime minister Thaksin Shinawatra -- to Singapore's Temasek Holdings Pte.
Officials are studying whether to make an offer for Shin Corp, the holding company sold to Temasek, or some of its assets, Communications Minister Sitthichai Pookaiyaudom said in Bangkok.
The sale last year to Temasek, owned by Singapore's Finance Ministry, angered Thais because the billionaire businessman's family didn't pay tax on the proceeds. Thai military leader General Sondhi Boonyarataklin, who led a September coup that toppled Thaksin, said on Friday that he wants control of 140 billion baht (US$3.9 billion) in assets to remain in the country.
"If we will buy, we also need to think which assets we will buy," Sitthichai said at a media briefing yesterday, adding that his ministry must consider whether Temasek will sell and at what price. "Buying Shin Corp may be expensive, but we will get" Advanced Info Service Pcl, too.
Temasek gained control of Advanced Info, Thailand's biggest mobile phone company, and Shin Satellite Pcl, the country's only satellite operator, when it led a group of investors in acquiring more than 96 percent of Shin Corp between January and March last year.
Shin also controls ITV Pcl, the nation's only television network operator not owned by the government or military, and CS Loxinfo Pcl, an Internet company.
The government is also investigating whether foreigners control a nominee holding company used to acquire Shin Corp, Sitthichai said.
Sondhi said on Friday he wanted Shin's "national assets back, especially the satellites."
Last month he accused Singapore of using Shin Corp's assets for spying, a charge the city-state's government denied.
The communications ministry plans to offer satellite license concessions to other Thai companies and agencies to boost competition, Sitthichai said yesterday.
"This may not help solve the problem, but it will prevent more national assets to fall [sic] into foreign investors' hands," the minister said.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that its investment plan in Arizona is going according to schedule, following a local media report claiming that the company is planning to break ground on its third wafer fab in the US in June. In a statement, TSMC said it does not comment on market speculation, but that its investments in Arizona are proceeding well. TSMC is investing more than US$65 billion in Arizona to build three advanced wafer fabs. The first one has started production using the 4-nanometer (nm) process, while the second one would start mass production using the
US President Donald Trump has threatened to impose up to 100 percent tariffs on Taiwan’s semiconductor exports to the US to encourage chip manufacturers to move their production facilities to the US, but experts are questioning his strategy, warning it could harm industries on both sides. “I’m very confused and surprised that the Trump administration would try and do this,” Bob O’Donnell, chief analyst and founder of TECHnalysis Research in California, said in an interview with the Central News Agency on Wednesday. “It seems to reflect the fact that they don’t understand how the semiconductor industry really works,” O’Donnell said. Economic sanctions would
RSS