May 18, 2017 / 8:21 AM / 2 years ago

Thai Intouch's VC arm to finalize two deals this year

(Reuters) - Thai telecom company Intouch Holdings Pcl on Thursday said its venture capital arm plans to finalize two deals by mid-year.

The company’s venture capital fund has 200 million baht ($5.8 million), which can be invested in the technology, telecommunications, and media sectors, said Tomyantee Kongpoolsilpa, vice president, group investor relations.

Intouch has another 1.6 billion baht to invest in future projects, and can afford to take on more debt due to its current low levels of debt, she told reporters.

The telecom firm plans to expand its home shopping company and take it to Thailand’s top three by 2018, she said.

At present, the firm’s home shopping network, High Shopping, has the fourth-largest market share of 5.6 percent in Thailand. High Shopping was formed in 2015 in a joint venture with South Korea’s Hyundai Home Shopping Network.

Singapore Telecommunications owns 21 percent of Intouch, which is the largest shareholder of Advanced Info Service Pcl, Thailand’s biggest mobile operator.

Reporting by Chayut Setboonsarng; Editing by Sherry Jacob-Phillips

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