Holding company: Intouch

Main investment: Advanced Info Service (AIS)

Ranking: No. 1 in Thailand

Mobile subscribers: 39.4 million

Market cap: S$19.9 billion; listed on the Stock Exchange of Thailand

Focus: mobile, fixed broadband, digital content

AIS is the largest of three key mobile operators in Thailand with a 46 per cent market share by subscriber base, followed by True Corp with a 31 per cent share.

AIS recently secured a 900MHz spectrum licence that allows it to continue its 2G services, but the challenge is how it can migrate its 2G users to 3G or 4G networks to raise data revenue.