IPStar hopeful Thai coup will not affect business

IPstar supplies the satellite feed for the government's Project PROBE service

The military coup in Thailand that ousted Prime Minister Thaksin Shinawatra is unlikely to have any repercussions for IPstar in New Zealand, the local company says.

Thaksin’s family founded Shin Satellite, which owns the satellite.

Tony Hill, manager of the New Zealand IPstar subsidiary, which is supplying the satellite feed for the government’s Project PROBE service (for remote areas in the country), says he is still waiting to hear from Thailand, but doesn’t expect any changes because of the coup.

Thaksin was deposed by the Thai military, which accuse him of corruption and of mishandling the Muslim insurgency problem in the country’s south.

King Bhumibol Adulyadej has apparently endorsed the coup and appointed army chief General Sonthi as the head of an executive body to rule the country, the BBC reports.

Earlier this year, Singapore’s state investment vehicle Temasek Holdings bought the Shinawatra family stake in Shin Corporation. This gave Singapore a controlling stake in Shin Satellite, which launched IPstar. Singapore also owns 40% of the Southern Cross Cable via state-owned telco Singtel.

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