Most importantly, he launched the main businesses into the stock market. Listing such concessionaire companies required the permission of the Finance Ministry and involved another round of political lobbying. Shinawatra Computer was listed in 1990, Advance Info Services (AIS, mobile phones in 1991, IBC cable TV in 1992, and Shinawatra Satellite in January 1994 (a month after the first launch). The stock market in this era was boosted by foreign inflows following financial liberalization. The index rose from 613 at the end of 1990 to 1683 three years later. With the added help of the high profit rates of the oligopoly concessions, the value of the listed Shinawatra companies, in Thaksin's own words, "soared upwards, multiplying in worth several times over (Thaksin 1999, 126). The share price of AIS (adjusted for stock splits) multiplied eight times from 1991 to a peak in early 1996 (fig 2.1). In 1994, the Shinawatra companies' combined annual revenues were 25 billion baht, and their total asset value was 56 billion baht, or US$ 2.4 billion (table 2.2). This value had virtually all been generated in just four years since the mobile phone business began generating cash flow. In 1996, Thaksin began to rationalize the business structure by converting the old computer company into a holding company (renamed as Shinawatra Corporation in 1997). In 1995 and 1997, he launched two more satellites.