On Monday, the share price of BTS Group Holding Public Company Limited (SET: BTS) closed at THB 3.16 in the morning session, a THB 0.10 or 3.27% increase with a total trading value of THB 202.41 million.
BTS shares rose this morning following news reports that the Central Administrative Court has ruled that the Bangkok Metropolitan Administration (BMA) and Krungthep Thanakom Co., Ltd. must pay for the operation and maintenance services of the Green Line mass transit extension to BTS, as stipulated in their contract.
The BMA and Krungthep Thanakom have not paid for the operation and maintenance of both Extension 1 and Extension 2 from June 2021 to October 2022, totaling THB 11 billion. The court has ordered full payment, along with interest, within 180 days from the final judgment date.
Representatives from the BMA and Krungthep Thanakom stated that the matter will be brought back for further discussion with BMA management regarding whether or not to file an appeal. If an appeal is filed, it could result in a higher future interest burden.
