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4-Traders Homepage  >  Equities  >  STOCK EXCHANGE OF THAILAND  >  Total Access Communication PCL    DTAC   TH0554010Z06

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Thailand's Finance Ministry Requests Probe on 3G Auction

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10/19/2012 | 01:45pm CET

BANGKOK--Thailand's finance ministry has asked the National Anti-Corruption Commission to launch a probe of the country's telecommunications regulator to investigate allegations of corruption in handling an auction of nine third-generation mobile telephony bandwith slots, a ministry official said Friday.

Deputy Permanent Secretary for Finance Supa Piyajitti noted that bidders in Tuesday's auction of 3G licenses paid either the reserve price or slightly above the reserve rate, raising concerns over fair play.

Subsidiaries of Total Access Communication PCL (>> Total Access Communication PCL) and True Move won three bandwidth slots each with bids that equalled the reserve level of 4.5 billion baht per five-megahertz frequency band, while a subsidiary of Advanced Info Service PCL (ADVANC.TH), Thailand's largest mobile phone operator, paid THB14.63 billion for 15 MHz of bandwidth--accounting for the remaining three slots, each of 5 MHz.

Ahead of the auction, several public interest groups had asked the regulator, the National Broadcasting and Telecommunications Commission, to tighten the auction regulations, foreseeing an uncompetitive result, she said.

Price competition was non-existent, as each bidder was allowed a maximum of three slots and there were only three bidders for the nine slots, she noted.

Write to djnews.bangkok@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Total Access Communication PCL
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Financials ( THB)
Sales 2016 83 852 M
EBIT 2016 4 927 M
Net income 2016 2 600 M
Debt 2016 35 583 M
Yield 2016 1,78%
P/E ratio 2016 39,83
P/E ratio 2017 38,12
EV / Sales 2016 1,71x
EV / Sales 2017 1,64x
Capitalization 107 735 M
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Consensus
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Mean consensus HOLD
Number of Analysts 25
Average target price 38,2  THB
Spread / Average Target -16%
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Managers
NameTitle
Lars-Åke Valdemar Norling Chief Executive Officer & Executive Director
Boonchai Bencharongkul Chairman
Sverre Pedersen Chief Financial Officer
Prathet Tankuranun Chief Technology Officer
Stephen Woodruff Fordham Independent Non-Executive Director
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