Published on February 27, 2008

Shin profits plummet by 72% for 2007

Shin Corp, The country's largest telecoms group, said yesterday that its 2007 net profit slumped 72% due to losses on investments in the media and consumer finance businesses. Shin Corp, controlled by Singapore's Temasek Holdings through two Thai-registered companies, reported a net profit of 960 million baht, down from 3.41 billion in 2006.

The company had a net profit of 730 million baht in the fourth quarter of 2007 compared with a net loss of 1.27 billion a year earlier.

Shin, with a market capitalisation of 95 billion baht, comprises more than 20 companies in the wireless, satellite, internet and media sectors with Advanced Info Service contributing more than 80% of profits.

To read further, please visit the Bangkok Post newspaper website: http://www.bangkokpost.com/270208_Business/27Feb2008_biz42.php