On Monday, the share price of Jasmine International Public Company Limited (SET: JAS) at the time of 11.46 a.m. local time in Bangkok was at THB 1.57, a THB 0.06 or 3.97% increase with a total trading value of THB 116.45 million. The rise in share price came amid positive sentiment to the company’s future performance following the THB5 billion gain from legal case and acquisition of EPL license.
Dr. Soraj Asavaprapha, Chief Executive Officer of JAS, revealed at the “Market’s New Magnet” seminar—held under the theme “Global Business Leaders in a New Era” hosted by “Kaohoon” that following the company’s recent victory over a 17-year legal battle against NT, securing over THB 5 billion (over THB 2 billion in principal plus interest), which NT is poised to pay.
These funds will not be utilized to cover EPL rights costs—as that project is self-sustaining—but will be allocated in three ways: special dividends to shareholders, cash reserves for stability, and investment in new businesses or workforce restructuring.
JAS is expecting the payment to be complete within 60 days after the negotiation with NT is concluded, which could take around 1–2 weeks. The company expressed confidence in NT capability of paying the settlement.
Monomax, a subsidiary of JAS, has been leveraged as the core streaming platform for Premier League football in Thailand. The strategy capitalizes on Monomax’s existing customer base and expertise in original content production, with plans to expand the platform into regional markets such as Indonesia, Malaysia, and the Philippines in the future.
Dr. Soraj notes that Mono Next Public Company Limited (SET: MONO) stands out as an intriguing M&A target, while the decision for JAS to directly hold MONO shares ultimately lies with the major shareholders.
MONO entails lower risk compared to JAS as it receives only revenue sharing and does not shoulder the costly burden of securing Premier League broadcasting rights. This makes it a particularly attractive stock, said Dr. Soraj.
Currently, MONO is majority-held by Pete Bodharamik, who owns a 56.29% stake; similarly, JAS is 50.89% owned by Pete.
From a technology perspective, the use of OTT (Over-The-Top) and streaming applications offers MONO significant cost advantages. Since these are fixed cost structures, the expense remains virtually unchanged regardless of whether there are 500,000 or 3 million viewers. Once the break-even point is surpassed, gross margins become substantial.
OTT technology also allows for seamless global access via roaming, surpassing the limitations of traditional set-top boxes, which are restricted to local use.
The decision to sign an unusually long 6-year contract (rather than the typical 3-year term) is seen as a strategic move to build a stable business foundation. A 6-year agreement enables JAS to focus on long-term growth without the pressure of generating immediate profits.
JAS plans to employ its strengths in streaming and network technology to integrate Monomax’s scripted entertainment content with sports (non-scripted) offerings, aiming to expand the customer base and drive sustained, stable profits. This positions the JAS-Monomax partnership for robust market positioning going forward.
As for subscription revenue, Monomax sets the fee at THB 299 per month or THB 2,999 per year. MONO receives a revenue share of approximately THB 50 per subscriber per month, with the remaining portion going to JAS.