Bangkok--Nov 14--SHIN CORPORATION
Shin Corporation PLC (SHIN) reported net profit of Baht1,977 million in 3Q05, decreased by 3.9% from 2Q05 and 10.3% from the same period of last year due to the decline in share of net results from investment in subsidiaries and affiliated companies. In 3Q05, share of net results from investment decreased by 5.9% from 2Q05 and 12.5% from the same period of last year to Baht1,974 million.
On September 22, 2005, AIS’s shareholders granted an approval on AIS paying dividend to shareholders greater than 40% of its annual net profit under the condition that ADVANC must receive at least an “AA” rating from a credit rating agency that has been approved by the Office of the Securities and Exchange Commission. This rating must be received within a period of 45 days before the approval of the dividend payment by the board of directors.
For wireless telecommunication business, Advanced Info Service PLC (ADVANC) was slightly impacted by the increase in fuel price thus the slowdown in consumers’ confidence. However, SHIN received higher net results from investment from ADVANC by 5.8% compared to 2Q05. At the end of 3Q05, ADVANC had 16.1 million subscribers, increased from 15.8 million in 2Q05. In addition, Advanced MPay Co.,Ltd, a subsidiary of ADVANC ventured with NTT DoCoMo Incorporation, Japan, to increase the efficiency in its mobile payment business.
For Satellite and international business, Shin Satellite PLC (SATTEL)’s contribution to SHIN’s earning decreased 77.1% from 2Q05 due to other revenue from compensation of Thaicom 3 of Bt1,083 million recorded in 2Q05. However, if compared to the same period of last year, the figure increased by 13.6%. In 3Q05, SATTEL held an official opening ceremony of its gateway in Thailand, following the successful in-orbit testing of the IPSTAR satellite.
ITV PLC (ITV) as SHIN group’s media and advertising arm, showed a continuous growth in terms of market share, audience share, and TV rating. Its contribution to SHIN increased dramatically from the same period of last year. However, the figured decreased from 2Q05 due to low season. As for the deal with the two business partners, Kantana Group and Mr. Tripop Limpapath did not invest with ITV but remained its primary content providers.
Regarding SHIN’s budgeted airline business, Thai AirAsia achieved better performance with its contribution to SHIN higher than the same period of last year. At the end of 3Q05, Thai AirAsia had services to 13 destinations, 7 domestic destinations and 6 international destinations. In October and November, the company added two additional international destinations, Bangkok-Hanoi, and Bangkok-Phnom Pehn. The company also acquired another aircraft in October, which brought up the total number of aircraft to 7.
Consumer finance business still shows a continuous growth. At the end of 3Q05, Capital OK had customers base of approximately 570,000 accounts with portfolio size grew to Baht 7,900 million, of which 70% are personal loan. In 3Q05, the company also launched a new product called “OK cash card”, which is an electronic prepaid card. Furthermore, to accommodate higher growth in the future, Capital OK increased its registered capital from Baht 1,500 million to Baht 2,000 million, which the company paid 60% of it share totaling Baht300 million.
For more information please contact;
Corporate Affairs Office: 02-2995498-9
E-mail: [email protected]
Sathika Chompooteep (Som)
PR in Corporate Affairs
SHIN CORPORATION PLC.,
414 Shinawatra Tower1, Phahol Yothin Rd., Phaya Thai, BKK 10400 Thailand
Tel.(02)299-5498 Fax.(02)299-5497
E-mail: [email protected] , [email protected] End.