Thaicom clarifying status, InTouch stake for govt
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Satellite operator Thaicom is preparing information for the Information and Communications Technology Ministry to clarify the firm's legal status, and will submit a report on whether its parent InTouch will raise its shareholding in Thaicom to at least 51
According to chief executive officer Suphajee Suthumpun, Thaicom received a letter from the ministry on the matter at the end of June and is now preparing the requested information.
Players in the industry are doubtful that InTouch will raise its stake in Thaicom.
The ministry made the request to Thaicom at the urging of Infobahn founder and former Thaicom CEO Dumrong Kasemset. Dumrong had pointed out that in its decision to confiscate the assets of former prime minister Thaksin Shinawatra in February 2010, the Supreme Court’s Criminal Division for Political Office Holders cited InTouch’s share reduction to 41 per cent in 2004. The court ruled that Thaksin abused his power to benefit his telecom empire. InTouch was formerly known as Shin Corp, the company founded by the Shinawatras.
InTouch is bound by Thaicom’s original concession to maintain its minimum share ownership in Thaicom at 51 per cent throughout Thaicom’s 30-year concession period. The ICT Ministry under Thaksin allowed InTouch to reduce its stake in Thaicom to 41 per cent in October 2004, without Cabinet approval.
The Supreme Court regarded this transaction as inappropriately benefiting InTouch.
The previous government had this InTouch case examined by the joint private-state committee founded under Article 22 of the Public-Private Joint Venture Act. A majority of the panel’s members concluded that InTouch should raise its stake in Thaicom back to the original level.
They also concluded that Thaicom’s iPSTAR broadband satellite was not a backup satellite for Thaicom 3 and that Thaicom still had to build a backup satellite under the provisions of the original concession.
The National Broadcasting and Telecommunications Commission’s telecom committee last week officially approved the granting to Thaicom of a licence to operate any of its existing and future satellites on the orbital slot at 120 degrees east longitude.
Thaicom needs a licence to operate the interim satellite it has placed in the 120 degrees east slot jointly with Hong Kong’s Asia Satellite Telecommunication (AsiaSat).
They will also jointly launch AsiaSat6/Thaicom 7 into the same slot in 2014. Placing these two satellites in the position serves the policy of the previous government to maintain Thailand’s right to the orbital slot.
