JAS fined B200m for default

Flashback: Pete Bodharamik, CEO of Jasmine International, is watched by members of a National Broadcasting and Telecommunications Commission (NBTC) as he draws certification for his behest fight for a 4G looseness – that his organisation valid incompetent to compensate for. (Photo by Pornprom Satrabhaya)

JAS Mobile Broadband contingency compensate a excellent of roughly 200 million baht to a inhabitant telecom regulator by Jun 16 for a disaster to compensate a initial complement of a 900-megahertz looseness fee.

The National Broadcasting and Telecommunications Commission (NBTC) confiscated JAS’s 645-million-baht pledge on Mar 21 — a deadline for JAS to make a initial remuneration of 8.04 billion baht and yield bank guarantees for a rest of a winning bid of 75.65 billion baht.

JAS has a right to record an seductiveness with a Civil Court if it disagrees with a decision.

However, handling licences of primogenitor organisation Jasmine International, including those for bound broadband and digital TV, will not be revoked.

The fortitude on JAS’s penalties was reached by a NBTC’s telecom cabinet Wednesday.

NBTC secretary-general Takorn Tantasith pronounced a regulator has no management to devaluate Jasmine’s handling licences as it could violate telecom laws and regulations.

He pronounced a excellent was distributed formed on 3 elements: remuneration for handling losses incurred during a auction in December, a cost of a re-auction on May 27, and seductiveness starting from JAS’s default on Mar 21.

The seductiveness of 169 million baht was formed on an seductiveness rate of 7.5% for JAS’s initial complement of 8.04 billion baht from Mar 21 until Jun 30, a date Advanced Info Service Plc (AIS) is compulsory to make a initial remuneration for a 900MHz spectrum after a re-auction on May 27.

Another excellent of 10 million baht was distributed from handling losses for a re-auction, and 20.24 million baht for December’s auction.

Mr Takorn pronounced JAS would not have to compensate for any disproportion in behest since AIS, by auxiliary Advanced Wireless Network, took over a looseness during JAS’s winning cost of 75.65 billion baht.

However, he pronounced any probable repairs from 4G use check due to JAS’s remuneration disaster had not been determined.

In another development, SP Global Ratings pronounced it had lowered a long-term corporate credit rating for AIS to BBB+ from A-. It also lowered a long-term Asean informal scale rating for AIS to axA+ from axAA. The mobile operator’s opinion is negative.

“We lowered a ratings since we trust AIS’s toleration for precedence has increased,” pronounced SP Global Ratings credit researcher Wei Kiat Ng.

“AIS’s collateral structure has enervated considerably given a debt-funded estimable remuneration that a association has committed to make to secure a 900MHz spectrum licence.”

AIS also won an 1800MHz looseness with a bid of 40.9 billion baht during an auction hold final November.

Payments for a licences will be done until 2020 and committed bank guarantees will substantially equivalent any element disastrous impact on a company’s liquidity position, SP said.

SP expects AIS’s pro-forma practiced leverage, as totalled by a ratio of debt to gain before interest, tax, debasement and amortisation (Ebitda) to boost to 2.7 times this year from 1.2 times on Dec 31, 2015.

The company’s debt-to-Ebitda ratio has been next 1.0 in new years.

Article source: http://www.bangkokpost.com/business/telecom/998461/jas-fined-b200m-for-default

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