SKY Rises 5% as Investors Expect Higher Revenue from THB29 Billion of Groundwork Bidding

On Thursday at 11:36 AM (Bangkok time), the share price of SKY ICT Public Company Limited (SET: SKY) increased by 4.85% or THB 1.25 to THB 27, with a trading value of THB 27.92 million.

The increase in SKY’s share price came after Mr. Kerati Kijmanawat, Director of Airports of Thailand Public Company Limited (SET: AOT), provided an update on the progress of selecting a public-private partnership (PPP) for a parking and ground support equipment project, which is worth 29,390.76 million baht to bring a third-party operator to Suvarnabhumi Airport and is currently under the process of approval for auction.

AOT Ground Aviation Services Company Limited (AOTGA), in which AOT held 49% of the shares and SKY held 51% via SAL Group (Thailand) Company Limited, or SAL, is set to participate in the bidding for the project, while the auction is estimated to be opened by the end of April.

As a result, the bid will benefit the shareholders of SKY, who is a shareholder of AOTGA, as the development of Suvarnabhumi Airport through the project is expected to increase the number of passengers and flights, both domestic and international, and accumulate more revenue.