JASIF Reports THB11.1 Billion Net Loss in 2023 as Income and FV of Investment Drops

Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) has announced its financial results for the fiscal year ending December 2023 as follows;

Year 2023 2022
Net Profit (Loss)
Million Baht
-11,139.18 3,650.41
% Change -405.15


JASIF’s total income for FY2023 was THB 9,514.85 million, decreasing 7.56% YoY mainly came from rental income from Optical Fiber Cables THB 9,436.51 million, (Consisting of Rental fee for the Amended and Restated Main Lease Agreement from 1 January 2023 to 31 December 2023 and for the Amended and Restated Rental Assurance Agreement from 1 January 2023 to 24 August 2023) decreasing 8.10% YoY.

The company’s total expenses for FY2023 were THB 1,554.07 million, increasing 7.69% YoY. Operating expenses were THB 534.31 million, increasing 2.89% YoY. (composed of Optical Fiber Cables maintenance expenses THB 425.75 million, right of way expenses THB 99.19 million and insurance expenses THB 9.36 million). Financial Cost THB 887.68 million increasing 15.99% YoY.

JASIF recorded net investment income of THB 7,960.78 million in FY2023, decreasing 10.05% YoY. Net losses from changes in fair value of investments were THB 19,099.98 million, decreasing 267.30% YoY (The mainly caused from the Rental rate for the Amended and Restated Rental Assurance Agreement was THB 802.76 per core kilometer per month, which will be collected until 24 August 2023 reflected the resolution of the EGM # 1/2023) Net assets from operations decreased THB 11,139.18 million, dropping 405.15% YoY.

Meanwhile, JASIF also announced that it would not pay the dividend that has a closing date on February 23, 2024.