JASIF Records Steady Income in 2022 with Efficient Cost Management

Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) has announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
3,650.41 8,029.51
Earning Per Share
0.4563 1.0037
% Change -54.54

JASIF reported a net profit of THB 3,650 million in 2022, decreased 54.54% from a net profit of THB 8,029 million in 2021. The main reason for the decline was due to changes in the fair value of investments.

Total income for FY2022 was THB 10,293.53 million, an increase of 1.30% YoY mainly came from rental income from Optical Fiber Cables THB 10,268.61 million, increasing 1.23% YoY, (As of 31 December 2022 rental rate for the Amended and Restated Main Lease Agreement was THB 441.66 per core kilometer per month and rental rate for the Amended and Restated Rental Assurance Agreement was THB 779.38 per core kilometer per month. And Interest income was THB 24.82 million, up 42.15% YoY. Other income was THB 0.10 million, declined 69.70%.

Total expenses for FY2022 were THB 1,443.04 million, increased by 0.80% YoY. Fund management fee and expenses were THB 132.04 million, increasing 8.29% YoY. Operating expenses were THB 519.32 million, increased by 3.24% YoY. (composed of Optical Fiber Cables maintenance expenses THB 413.35 million, right of way expenses THB 97.30 million and insurance expenses THB 8.67 million). Financial Cost THB 765.34 million decreasing 4.01% YoY and other expenses were THB 26.34 million, up 182.62%.

JASIF recorded net investment income of THB 8,850.49 million in FY2022, increasing 1.38% YoY. Net losses from changes in fair value of investments were THB 5,200.09 million, decreasing 642.37% YoY. Increase in net assets from operations was THB 3,650.40 million, declined 54.54% YoY.

JASIF stated that it had long-term loan repayment in the amount of THB 262.50 million. for Q4/2022. And JASIF has made long-term loan repayment totaling 1,050.00 million from Q1/2022 to Q4/20.