Singtel associate AIS not obligated to pay $602 million claim by Thailand’s National Telecom
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Vivienne Tay
SINGAPORE - Singtel’s Thai associate Advanced Info Service (AIS) is not obligated to pay the 16.3 billion baht (S$602.1 million) claimed by Thailand’s National Telecom (NT).
This came after the country’s Supreme Administrative Court dismissed NT’s appeal on the dispute, which dates back to 2018.
NT was claiming additional revenue share from AIS involving roaming service, based on a seventh amendment to a main concession agreement covering the July 2013 to September 2015 period.
The additional revenue share amounted to 16.3 billion baht with a penalty interest rate of 1.25 per cent per month, AIS said in a statement which was reposted on the Singapore bourse by Singtel on July 14.
NT filed the claim with the arbitral tribunal in 2018. Later in 2020, the tribunal rendered an award in favour of AIS, dismissing NT’s claims.
Subsequently, NT filed a petition with the Central Administrative Court to revoke the arbitration award, which was dismissed in 2023.
This led to NT filing an appeal against the Central Administrative Court’s judgment with the Supreme Administrative Court.
With the appeal dismissed, the dispute is now concluded, AIS said.
Shares of Singtel closed six cents, or 2 per cent, higher at $3.01 on July 15. THE BUSINESS TIMES
