News Detail

Date/Time
26 Nov 2020 13:04:00
Headline
Achievement of dispute settlement in case of customer defaulted its payment in Hemaraj project
Symbol
ALT
Source
ALT
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                Ref. VP201109

November 26, 2020

Subject:     Achievement of dispute settlement in case of customer defaulted its 
payment in Hemaraj project

To:         President of The Stock Exchange of Thailand

According to ALT Telecom Public Company Limited (the "Company") has filed a 
lawsuit with the Administrative Court in conjunction with an insurance company
(The compensation payer under the credit default policy to the Company in the
proportion of 90% of the debt) in the event of the customer defaulted on the
payment of service fee for the Fiber to the Factory (FTTF) cable network within
the industrial estate area, Hemaraj Eastern Seaboard and Eastern Seaboard Rayong
Industrial Estate ("Hemaraj Project"). The Central Administrative Court ordered
the sued party to pay its payable with penalty interest rate 7.5% per annum to
the plaintiffs. The appeal had been exercised, so the case was up to the
consideration of the Supreme Administrative Court. Anyhow, all parties rendered
the negotiation to explore the way to solve the dispute on parallel with the
court consideration.

Now, all parties have reached an agreement in resolving the dispute, the sued 
party agrees to pay all outstanding debt together with default payment rate at
7.5% per year. The Company had received full payment of outstanding debt with
such interest rate, in the total amount of 80.47 million Baht (net of the amount
paid back to the insurance company). All parties agreed that all disputes, in
connection with this case were ended completely.

For your information.


Respectfully Yours,





Somboon Setsuntipong
VP - Finance & Account
______________________________________________________________________
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