Thailand's True Corp to invest $1b in mobile, broadband this year

BANGKOK - Thai telecommunications group True Corporation PCL plans to invest 26.5 billion baht (S$1.03 billion) this year, primarily to expand its mobile and high-speed broadband Internet businesses as it targets revenue growth of 7 to 9 per cent.

True, majority-owned by billionaire Dhanin Chearavanont's Charoen Pokphand Group, plans to spend 15.5 billion baht on mobile, 10 billion baht on broadband and 1 billion baht on cable television, the company said in a statement on Thursday.

True is Thailand's only company operating a full range of telecoms services, from mobile and fixed-line phones to broadband Internet and cable television.

In December, the company raised US$1.8 billion (S$2.3 billion) by listing an infrastructure fund to help pay debt.