GULF-THCOM Confirm Full Asset Delivery, Deny 1.25 Billion Baht Payment Obligation

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Gulf Development and Thaicom have issued a clarification through the Stock Exchange of Thailand, confirming that they have fully delivered the assets under the domestic satellite concession contract and have no obligation to pay approximately 1.25 billion baht as reported in the news. This follows reports that the Cabinet approved the Ministry of Digital Economy and Society to take legal action against Thaicom regarding incomplete asset delivery. Gulf stated that it assumed the contractual rights from Intouch after the merger and would fight the case legally if arbitration occurs. Meanwhile, Thaicom clarified that the assets in question are not those required to be delivered under the contract and that it has fully performed its obligations.

Impact on assets 2

Space Economy▲ · 1 stocks
Thaicom Public Company Limited
THCOM
± MixedRegulationrelevance

Thaicom clarifies the disputed assets were not contractually required and that it fully performed, amid Cabinet-approved legal action over the concession.

Energy Transition & Power Demand▲ · 1 stocks
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