Mfone Profits Cut in Half in First Quarter
Thaicom Public Company Ltd., which owns a majority stake in local phone operator Mfone, announced on Friday that they have devalued the company by about $1.31 million as profits in the first quarter dropped by half. “In an effort to reflect the fair value of its business operations and holdings, the company also reviewed all its investments and decided to include an impairment loss on the company’s investment in telephone operations in Cambodia,” the statement said, adding that profits dropped from about $2.66 million to $1.34 million over three months. …
