Bangkok--May 16--Shin Corporation
Shin Corporation PLC (SHIN) reported the 1Q05 net profit of Bt2,392 million, an increase of 14% and 9.2% from the same period of last year and last quarter respectively. Net profit was mainly attributed to the share of net results from investment in subsidiaries and associates in 1Q05, which accounted for Bt2,435 million. This represents a 14% increase from the same period of last year and 8% increase from last quarter.
For Wireless telecommunication business, Advanced Info Service PLC (ADVANC) served up to 15.5 million mobile customers at the end of 1Q05. Net addition subscriber was 332,900 during the quarter. Regarding satellite and international business, Shin Satellite PLC (SATTEL) started selling user terminals (UT), which were specifically designed for IPSTAR to enhance equipment efficiency and lower the costs. ITV PLC (ITV) as SHIN group’s media and advertising arm, made a remarkable improvement in ad spending market share and channel popularity, with its rating climbing to the third in the industry.
Concerning SHIN’s investment in new businesses Thai AirAsia achieved 1.6 million customers since the beginning of its operation in February 2004. The airline currently flies to 8 domestic and 5 international destinations. In April 2004, a new international route, Bangkok-Xiamen was added. New consumer finance business is also showing a good sign of growth potential. Capital OK achieved 230,000 customers at the end of 1Q05. The loan portfolio size grew to Bt3,600 million which doubled from end of 2004.
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Corporate Affairs Office: 02-2995498-9
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