December 18, 2012 / 3:57 AM / 5 years ago

Thai True Corp plans to invest 26.5 bln baht in 2013

BANGKOK, Dec 18 (Reuters) - Thai telecoms group, True Corp Pcl, said on Tuesday it planned to invest 26.5 billion baht ($865.73 million) in 2013 mostly to expand its mobile, high-speed Internet and cable television businesses.

True Corp, which owns True Move, Thailand’s third-largest mobile phone network, aimed to have 26 million subscribers next year, up from 20 million subscribers this year, Chief Executive Supachai Chearavanont told reporters.

The company expected to report a net profit next year, he said.

True Corp, Thailand’s only fully integrated telecoms firm, operates a range of businesses including mobile, fixed-line phone, Internet and cable television.

The mobile unit competes with Advanced Info Service Pcl , partly owned by Singapore Telecommunications , and Total Access Communication Pcl , controlled by Norway’s Telenor.

True group is majority-owned by Charoen Pokphand Group, Thailand’s largest agribusiness group controlled by the country’s wealthiest tycoon Dhanin Chearavanont. ($1 = 30.61 baht) (Reporting by Manunphattr Dhanananphorn; Writing by Viparat Jantraprap; Editing by Jeremy Laurence)

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