Shin Satellite sells unit for $200m: Temasek buys Lao, Cambodian firms.

Byline: Komsan Tortermvasana

Jun. 2--Shin Satellite said yesterday that it would sell 49 percent of its Lao and Cambodian operations to a unit of Temasek Holdings for $200 million, causing the company's shares to jump 23.16 percent in heavy trade.

SATTEL shares closed on the Stock Exchange of Thailand at 10.90 baht, up 2.05 baht, in trade worth 932.47 million.

Dumrong Kasemset, the company's executive chairman, said the transaction would help reduce the company's debt burden and improve its financial status. Shin Satellite's total debt topped $500 million, with a debt-to-equity ratio of 1.39 times as of the end of March.

"After the …