Thai True sees 2009 revenue growth under 5 pct

* Mulls several options to raise fund on getting 3G licence

* Shares down 2.6 pct, underperform market (Adds details)

BANGKOK, Dec 8 - True Corporation PCL TRUE.BK, Thailand's only integrated telecoms firm, said on Tuesday it expected its 2009 revenue to rise less than 5 percent from last year due to the weak economy.

But the company, which posted a 3-4 percent rise in revenue in the first nine months of 2009, expected revenue growth in 2010 to be higher than this year thanks to an improvement in the economy, Chief Executive Supachai Chearavanont told reporters.

Our revenue grew about 3-4 percent in the first nine months. But we think growth should be higher next year, Supachai said.

Fifteen analysts polled by Thomson Reuters I/B/E/S expected average 2009 revenue of 61.2 billion baht ($1.85 billion), steady from last year, and 61.8 billion baht for 2010.

True Corp, founded by the Chearavanont family of the Charoen Pokphand Group, Thailand's largest agribusiness conglomerate, operates a wide range of telecoms services including mobile phone, fixed-line, Internet and cable television services.

True planned to invest about 8 billion baht a year to expand its telecoms network, and 50 percent of the amount would be spent on its mobile unit operated by True Move, Thailand's third-largest mobile phone operator, he said.

True, which estimates earnings before interest, tax, depreciation and amortisation this year will be 20 billion baht, has sufficient cash to finance its network expansion, Supachai said, adding it would invest another 5 billion baht if it received a 3G licence.

If it won the licence, it would consider various options to raise funds, including a rights issue, seeking new partners or listing True Move on the bourse, Supachai said.

The long-awaited auction of third-generation mobile phone licences is now expected to be in the second quarter of 2010.

True Move competes with market leader Advanced Info Service ADVA.BK and number two Total Access Communication DTAC.BK.

On Tuesday, True Corp closed down 2.6 percent at 3.04 baht, while the overall market was 0.4 percent lower. ($1=33.12 Baht) (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Alan Raybould)?