Thailand’s SET Index closed at 1,377.93 points, decreased 2.72 points or 0.20% with a trading value of 50.9 billion baht. The analyst stated that the Thai stock market traded narrowly and conformed to the Asia market, as there was no sign of new factors. Investors looked forward to speculating on a number of factors next week, including the cabinet meeting for the discussion of the Digital Wallet scheme and the verdict from the constitutional court regarding ITV’s shareholding of Mr. Pita Limjaroenrat case.
The analyst expected the market to trade sideways tomorrow.
The share price of BTS moved narrowly and closed flat on Thursday despite the Bangkok Metropolitan Council’s order for the Bangkok Metropolitan Administration (BMA) to pay THB 23 billion of debt in E&M to the skytrain operator, as it requires approval from the Thai cabinet to pay the debt.
Mr. Chadchart Sittipunt, Governor of Bangkok, stated that the resolution sent a good sentiment for Bangkok as it is an opportunity for the city to move forward, and the details about the payment will be proposed to the council once again on January 24, 2024. Bangkok Metropolitan Administration will then report the details to the Ministry of Interior and the cabinet to request approval for the payment to be its first priority, as the ongoing extension contract of the BTS Green Line by the National Council for Peace and Order (NCPO) No. 3/2562 dated April 11, 2019 has not been completed.
Mr. Surapong Laoha-Unya, Executive Director of BTS Group Holdings Public Company Limited and Chief Officer of MOVE Business, stated that in the present, the E&M has been recorded in the account of outstanding debt from BMA. The payment of E&M will support the cash flow of BTS and allow the company to pay more debt, which was borrowed from financial institutes and acquired in the form of debentures to maintain the service while the company awaited for BMA to pay the debt.
SKY ICT has announced that the Board of Directors approved Pro Inside Company Limited (PIS), a subsidiary company of SKY with 91.40% shareholding, to issue and offer its newly-issued ordinary shares in the initial public offering (IPO) for a listing in the Stock Exchange of Thailand.
PIS provides network solutions in the field of project management, installation and maintenance.