FRIDAY, March 29, 2024
nationthailand

MOVE TO PROVIDE REAL-TIME INFO ON STATUS OF SIM CARDS

MOVE TO PROVIDE REAL-TIME INFO ON STATUS OF SIM CARDS

The Thai Bankers’ Association has consulted the National Broadcasting and Telecommunications Commission (NBTC) and mobile phone operators about the possibility of setting up a connection between the banks and the mobile phone operators to enable the real-

The move aims to boost the confidence of users of mobile banking services amid a spate of news about mobile-payment fraud.
According to the bank association, the connection between the banks and the mobile phone operators would enable the banks to keep updating the real-time information when a mobile phone subscriber terminates a SIM card, requests a new SIM card or the card changes hands.
Once a bank learns about any of these changes, it would suspend the mobile banking facility of the card owner until the owner’s identify is verified again. 
The NBTC would have to amend relevant regulations for consumer protection to facilitate the move.
The NBTC, the bank association, the Bank of Thailand, and the Telecommunications Association of Thailand will meet today to discuss ways to boost consumer confidence in mobile banking services.
 
ITEL IPO OVER-SUBSCRIBED
 
Interlink Telecom’s (ITEL) initial public offering shares have been oversubscribed on expectation of high growth potential in the telecommunications industry and data centres. 
The company will debut on the Market for Alternative Investment on Wednesday. 
Out of the 200 million IPO shares, 140 million were offered to the general public at Bt5.20 apiece between Wednesday and Friday. The remaining 60 million shares were fully subscribed by Interlink Communications (ILINK) shareholders.
ITEL is a subsidiary of ILINK and operates a fibre optical-cable network in Thailand.
Nuttanai Anuntarumporn, ITEL managing director, said that the Bt1.04 billion in proceeds for the IPO would be used to finance network improvements and expansion, set up a joint venture for a data centre and to generate working capital, and to repay debt.
“ITEL’s strength lies in its fibre optical cable network throughout 75 provinces nationwide with different routes from other providers and high growth potential,” he said. 
 
STAR MICROELECTRONICS TO WIPE LOSSES
 
Star Microelectronics (Thailand) plans to use its operating profit to clear its accumulated losses – this quarter.
It expects that its performance in the second half of the year will be better than the first half following its shift to focus on producing high-margin products, according to its chief executive officer Peerapol Wilaiwongstien.
The company posted a net profit of Bt70 million in the first half of this year, compared with a loss of Bt55 million over the same period last year, thanks to its cost reductions to boost its profit margin and its focus on producing high-margin products. 
 
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