Thai telecoms group Shin Corp  (SHIN.BK) said on Wednesday its major shareholder, Singapore’s Temasek (TEM.UL), had no plans to sell its stakes in the Thai  firm or in satellite unit Thaicom (THCOM.BK).

A court verdict on Feb. 26 that former Thai premier Thaksin  Shinawatra concealed ownership of shares in Shin Corp and  tailored government policies to benefit Shin has fuelled  speculation Temasek might divest some or all of its Shin stake. 

 

“There’s no such issue,” Executive Chairman Somprasong  Boonyachai told reporters. 

 

Shin’s mobile unit, Advanced Info Service (AIS)(ADVA.BK), and  Thaicom have complied with Thai laws and have done everything  required by state agencies, he said. 

 

There had been no cancellation of services of the mobile and  satelite units since the Thaksin verdict, executives of the two  firms said. 

 

Shin was looking to invest in new businesses and expected to  conclude the plans this year, he said, without giving further  details. 

 

At 0844 GMT, Shin Corp shares were up 1.96% at 26  baht ($1.11), AIS shares were up 0.65% at 77.50 baht, Thaicom  shares were up 2.7% at 4.5 baht and the main Thai stock  index (.SETI) was 0.34% higher.