TPBS confirms iTV Plc, subsidiary have shut down

AMID a move to disqualify Move Forward leader and prime minister candidate Pita Limjaroenrat for holding 42,000 iTV Plc shares, a Thai Public Broadcasting Service (TPBS) executive said today (May 10) this company was closed in 2007, Sanook.com said.

Mr. Anuphong Chaiyarit, TPBS’s deputy director, added that iTV’s subsidiary which rented equipment to produce films had also shut down.

However iTV still retains the status of a juristic person because it is embroiled in a lawsuit with the Office of the Permanent Secretary, the Prime Minister’s Office (OPM – PM’s Office).

Mr. Ruangkrai Leekitwatana, who is running as Palang Pracharath’s party-list MP and is well-known for lodging complaints, had earlier said he wanted the Election Commission to investigate Pita holding 42,000 iTV shares because Section 98 (3) of the Constitution prohibits a person who owns or holds shares in a newspaper or a media company from standing in an election.

However last night Pita explained that these shares were inherited and he is only taking care of them as estate manager.

Anuphong posted seven points on the iTV issue based on the company’s 2022 report on his Facebook page today as follows:

– iTV Plc stopped operating its television station on March 7, 2007 after OPM – PM’s Office terminated a work contract. The Stock Exchange of Thailand delisted iTV on July 24, 2014;

– At present the company is embroiled in a lawsuit with OPM – PM’s Office after an arbitrator ordered it to pay 2.890 billion baht;

– Subsequently OPM – PM’s Office filed a lawsuit at the Administrative Court asking for revocation of the arbitrator’s decision but the court dismissed the petition. In January 2021 OPM – PM’s Office appealed to the Supreme Administrative Court. The case is under consideration;

– In fiscal 2022 iTV had an income of 20.5 million baht through investments in bonds posting a net profit of 8.5 million baht ;

– iTV has one subsidiary, Artware Media Co., Ltd., which rented radio and television production equipment to produce television programmes and also sold copyright of movies and television programmes among other activities but this too has ceased its operations;

– The major shareholder that has influence on iTV’s policies and operations at present is Intouch Holdings Plc.

CAPTIONS:

Top: iTV Plc logo. Photo: Sanook.com

Front Page; Move Forward leader Pita Limjaroenrat speaking during a parliamentary debate. Both photos: Sanook.com

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