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Singtel's Thai unit AIS wins arbitration case over roaming revenue spat
MAINBOARD-LISTED Singtel's Thai associate, Advanced Info Service (AIS), has won in arbitration against Thai telco TOT Public Company's claim for extra roaming revenue share.
But TOT still has three months to file a petition over Tuesday's decision to dismiss its September 2018 claim for 16.25 billion baht (S$721 million) in extra revenue share, based on an amendment to a concession agreement spanning July 2013 to September 2015.
The finding is the latest development in a dispute that has already seen AIS ordered in January to pay 31.07 billion baht, plus interest of 1.25 per cent a month, to TOT.
The two telcos have been locked in a legal tussle over an agreement from 1990 where TOT gave AIS the right to operate a mobile phone network for 25 years, as well as amendments to the agreement that relate to revenue-sharing and concession fees.
Singtel, which is due to report its third-quarter results on Thursday, closed up S$0.01 or 0.3 per cent to S$3.30 on Tuesday.