NBTC confident to receive first instalment payment for 900 MHz spectrum from two bidders

[webfact]

NBTC confident to receive first instalment payment for 900 MHz spectrum from two bidders



BANGKOK: -- The National Broadcasting and Telecommunications Commission (NBTC) is confident that the two winners of 900 MHz spectrum will not default their first instalment payment amounting to 8,040 million baht as widely speculated, said NBTC secretary-general Thakorn Tanthasit on Monday.

True Corporation and Jasmine International won the bids for 900 MHz spectrum by offering a total of 151.95 billion baht – 76.3 billion baht for True and 75.67 billion baht for Jasmine.

Mr Thakorn said that the bidding conditions are very stringent that it is very difficult or almost impossible for the winners of the bid to miss their obligation of instalment payment.

In case of a default, he explained that each of the successful bidders would have its 644 million baht money posted as guarantee for the bidding confiscated and and would have to bear the damages caused to NBTC for the default and expenses to incur in case new bid is to be staged by the NBTC.

Moreover, he warned that the two winners might be disqualified and lose their existing operating licenses.

Both True and Jasmine International have enough time until March 21 to come up with the first instalment payment.

-- Thai PBS 2016-02-01

[Srikcir]

The Junta would none too pleased should both default. It appears to have already budgeted the 151.95 billion baht for 2016 economic stimulus projects.