Singapore Media Watch

Monday, October 16, 2006

Temasek willing to reduce its share in Shin Corp

16 October 2006

Result would only be positive, says AIS

Singapore's Temasek Holdings is likely exploring its options to reduce its shareholdings in Shin Corp, according to Wichien Mektrakarn, the president of Advanced Info Service.

''I believe that it might happen. And if it does, it would only be positive for Temasek as the major shareholder, and positive for AIS,'' Mr Wichien said.

Temasek, which took over Shin earlier this year from the family of deposed prime minister Thaksin Shinawatra, has suffered paper losses of more than US$1 billion since the investment after regulators announced an investigation into whether the company violated the 49% foreign-shareholding limit through the use of nominee vehicles. (Read more...)

16 October 2006

Temasek Holdings of Singapore said Monday it is willing to reduce its shareholding in Shin Corp "at the appropriate time and in an appropriate manner" in order to ensure an orderly market.

However, Jimmy Phoon, senior managing director, investments of Temasek, said the share reduction is part of Temasek's original intention to keep Shin Corp's listing status in the Thai stock market following a public tender offer in March 2006. (Read more...)


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