Shin Corporation

Shin Corporation

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Shin Corporation

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Description:
Shin Corporation (; ) (ชิน คอร์ปอเรชั่น Khxrpxrechạn Chin) is one of the largest conglomerates in Thailand.

History

It was founded in 1983 as Shinawatra Computer by Thaksin Shinawatra, former Prime Minister of Thailand, and took on its current name in 1999, by using the first four letters of his last name. The company grew tremendously under the leadership of Shinawatra.

For its services it received the Royal Warrant on 11 June 2004, which gave it permission to display the royal Garuda emblem in public.

On January 23, 2006, the Shinawatra family sold its remaining 49.6 percent stake in the company to nominees of Temasek Holdings, the Singapore government's investment arm, for US$1.88 billion. The 2006 sale of the Shinawatra family's share caused great controversy in Thailand. The sale was in response to long-standing criticisms that the Shinawatra family's holdings created a conflict of interest for Thai Prime Minister Thaksin Shinawatra. Critics of the sale focused on allegations directed toward Thaksin and a compliant government that the transaction was exempt from capital gains tax, the fact that the Thai company was sold to a Singaporean company, and the fact that the Thai law regarding foreign investments in the telecom sector had been amended just prior to the sale.

The company is linked by stock control to companies including Shin Satellite and Advanced Info Service, the largest mobile phone network in the...
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