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Thai Telecommunications Firm Pressed to List by Fourth Quarter.
Byline: Komsan Tortermvasana
Jul. 5--TOT Corporation should take advantage of current market momentum and speed up its listing in time for the fourth quarter of this year, says Surapong Suebwonglee, the information and communications technology minister.
Dr Surapong made the comment yesterday as the Stock Exchange of Thailand index approached the 500-point mark on heavy turnover of 32.7 billion baht. Turnover the previous day had been 37.1 billion, a level not seen since the index's all-time peak in early 1994.
He said he wanted to see TOT Corp jump on the bandwagon as its initial public offering (IPO) and listing had already been delayed since last year.
He expressed confidence that a fourth-quarter target could be met, saying earlier concerns were now being addressed.
For example, he said, the revenue-sharing system between TOT and private companies holding concessions has been modified, with new excise taxes going directly to the Finance Ministry.
Analysts had complained earlier that it was impossible to value TOT as long as it continued to rely on concession payments for 30 percent of its revenue, since the concession system was due to be abolished by 2006 at the latest.
- TOT says it needs a directive from the Finance Ministry before it can apply...
- Magazine article from: Telecom Asia October 1, 2006 700+ words
TOT says it needs a directive from the Finance Ministry before it can apply interconnection rates with existing operators under its concession contracts, to avoid possible lawsuits.
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- Newspaper article from: Bangkok Post (Bangkok, Thailand) February 20, 2006 700+ words
...percent for mobile service. He said TOT had asked the Finance Ministry to waive the excise tax, noting...acknowledged that attempts to value TOT shares had been impeded. The Finance Ministry wanted TOT to list 180 million shares, or 30...
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- Newspaper article from: Bangkok Post (Bangkok, Thailand) September 15, 2006 700+ words
...Tantreesukon, deputy president of TOT, said that if the Finance Ministry gave TOT a signal to go ahead with the interconnection...organisation in the future. He said the Finance Ministry, the largest shareholder in both TOT and CAT Telecom, was causing management...
- TOT told to revise business plan for IPO.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) July 11, 2005 700+ words
...the fact that the Finance Ministry is the agency's major shareholder. TOT expects to post revenues...provide 30 percent of TOT's total annual revenue. The Finance Ministry, which oversees...public offerings of TOT and CAT Telecom...
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- Newspaper article from: Bangkok Post (Bangkok, Thailand) October 26, 2005 700+ words
...third issue pending is TOT's request for the Finance Ministry to waive certain excise...Under the law, TOT, as an operator based...by next year]." TOT plans to float a 30...stake held by the Finance Ministry. To see more of the...
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- Newspaper article from: Bangkok Post (Bangkok, Thailand) July 21, 2006 700+ words
...shareholder, the Finance Ministry. Merger guidelines...already been prepared by TOT and are to be considered...enterprise. This required TOT to halt its privatisation...this year. Now the Finance Ministry has instructed TOT to look again at merging...
- TOT Plc to manage Thai Mobile: Vodafone could be new strategic partner.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) March 4, 2006 700+ words
...mediator, it was agreed that TOT would manage Thai Mobile. This...included giving the green light to TOT to manage the 1900 MHz bandwidth...supervisor of CAT Telecom, and the Finance Ministry, the major shareholder of TOT Plc, would have to negotiate...
- TOT-True ruling to be challenged: TOT staff may lose out on annual bonus.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) March 7, 2006 700+ words
...Chantanusornsiri Mar. 7--The Finance Ministry is preparing to challenge...arbitration ruling against TOT Corp calling for compensation...special services", TOT noted that the international...traffic. In any case, Finance Ministry officials said if legal...were not possible, the ...