CAT to complete due diligence on core units by year-end
CAT Telecom is expected to complete due diligence on its six core business units by year-end as part of its plan to improve operations.
Viroj Tochareonvanith, senior executive vice president and acting president, said yesterday that CAT would hire an adviser for due diligence.
The State Enterprise Policy Commission, better known as the “superboard”, ordered both CAT and TOT to conduct due diligence on their operations as part of its move to work out a policy to improve their business.
CAT’s six business units are telecom infrastructure, telecom towers, international Internet gateway and submarine cable, mobile-phone business, fixed-line business, and Internet broadband and IT services.
CAT is revising its rehabilitation plan before resubmitting it to the superboard. It will organise a special session to discuss the plan next month before finalising it.
CAT has also considered dissolving unprofitable business units, including international phone cards and data frame relay services.
CAT’s board on Wednesday acknowledged the plan to invest in the fibre-optic broadband Internet service worth Bt4 billion, featuring 12 contracts to roll out the network for the state enterprise.
CAT has also reported first-quarter revenue of Bt12.67 billion and profit of Bt94.89. In that quarter, it lost Bt4.7 billion in telecom concession revenues from Total Access Communication (DTAC) and True Move that have had to be passed on to the state since December 20 of last year.
