BBL Asset Management Co., Ltd., (the Management Company) as the Management Company of Jasmine Broadband Internet Infrastructure Fund (JASIF) (the Fund), has announced that Triple T Broadband Public Company Limited (3BB) is short on the payment of rental fee.
BBL Asset Management stated that, as at June 15, 2023, the Fund has received the rental fee in the amount of THB 700.0 million from 3BB, the total amount of rental fee per month is THB 943.1 million and the partial outstanding balance is THB 243.1 million. Furthermore, 3BB has informed the Fund that the ongoing intense competition in the fixed broadband market and the increasing operation costs has impacted on its operating cash flow.
Under the Lease Agreement between the Fund and 3BB, it has a clause that 3BB can delay the rental payment within 15 days after the due date which ends on June 30, 2023. In the meantime, 3BB will have to pay a fine at the rate of 7.50% per annum until the monthly rental fee is fully paid.