M-Link Asia Corp branching out into energy, leasing and transportation
Mobile-phone retailer M-Link Asia Corp, which was co-founded by siblings of former prime minister Thaksin Shinawatra, is expanding into the energy, leasing and transportation businesses, chief executive officer Prasit Srisuwan said yesterday.
The listed company has set up four subsidiaries – M-Link Energy, M-Link Leasing, M-Link Transportation and M-Link Applications – which are expected to help it achieve a profit this year.
M-Link Energy is looking to invest in garbage-fuelled power plants in both northern and northeastern provinces by joining with other listed companies.
"We will invest in provinces that offer opportunities," he said.
M-Link Energy is reportedly expected to join with Samart Telcoms, a subsidiary of Samart Corp, in this venture.
Samart I-Mobile, which is Samart Corp’s flagship, is M-Link’s second-largest shareholder.
Samart Corp recently announced plans to set up a coal-fired power plant in Cambodia and garbage-fuelled power plants in Thailand, including in Buri Ram and Chiang Mai provinces.
Prasit said M-Link Energy was also in the process of forging a deal with a hydropower-plant business in Laos, which is expected to be signed this April.
M-Link Leasing, meanwhile, is in talks with a partner in Cambodia to co-launch a leasing business there, but he declined to provide more details.
M-Link Transportation is expected to launch services in Thailand in the second half of the year, but he again declined to elaborate.
M-Link Asia Corp was co-founded by two of Thaksin’s sisters, Yaowapa Wongsawat and Monthathip Kovitchareonkul. Yaowapa is a former Pheu Thai MP for Chiang Mai.
Its chairman is Kraisorn Barameeauychai, former chairman of CAT Telecom’s board.
The business expansion follows the company’s recent allotment and offering of newly issued ordinary shares to 11 specified persons, who will hold a combined 65-per-cent stake in the company after payment for the shares next month.
One of these individuals is Chomkamol Pumpanmuang, daughter of police chief Pol General Somyot Pumpanmuang. She will hold 7.48 per cent of the shares.
After the share allocation process is complete, the stake held by M-Limk’s existing major shareholder, M Capital Holding, will be diluted from 7.58 per cent to 2.04 per cent, while that of Samart I-Mobile will be diluted from 4.63 per cent to 1.25 per cent.
M-Link’s registered capital will rise to Bt1.898 billion, from Bt540 million currently.
