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Temasek could sell its shareholding in Shin Corp

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The Singapore investment giant Temasek could move to divest its shareholdings in Shin Corp amid growing business and regulatory risk in the wake of the Supreme Court’s ruling in the Shinawatra family’s assets case.

Temasek, the major shareholder of Shin, may sell if the right buyer emerged, said Somprasong Boonyachai, Shin’s executive chairman and acting president.

“If a buyer emerged today, they would probably sell. [Temasek] has never indicated that it wanted to hold its investment forever,”

he told the Bangkok Post.

Mr Somprasong said he had spoken with Temasek executives earlier this week about the implications of last week’s ruling in the Thaksin assets seizure case and its potential impact on Shin and its associated companies.

Temasek might consider selling Shin Corp investment after court rule

He explained to Temasek that the court case did not directly involve Shin or its mobile flagship AIS, as the case related to the personal affairs of its former shareholder and founder.

But share prices for Shin and other telecom firms have plummeted in recent days amid fears that the government may seek damages from local operators.

via Temasek wary of Shin.

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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