Arbitral Tribunal order TOT to pay billion to AIS
AIS won the case. The Central Administrative Court ordered TOT to pay Baht 1,354 million after submitted to the Arbitral Tribunal the dispute of the revenue share from international direct dialing service between Advanced Info Service (AIS) and TOT Public Company Limited.
On this latest January 22, 2021, the Central Administrative Court has resolved to dismiss TOT’s petition to revoke the Arbitration ruling that order TOT to pay the revenue share in the amount of Baht 1,354 million, including interest at the rate of 7.5 percent per annum, to AIS.
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Mr.Tee Sriumpornroj, Chief Finance Officer of Advanced Info Service Public Company Limited, or AIS, inform the Stock Exchange of Thailand that “The reference is made to the dispute that the Company submitted to the Thai Arbitration Institute claiming TOT Public Company Limited (“TOT”) to pay revenue share of the international direct dialing service according to the amendment no.3 and no.4 of the 900MHz Mobile Service Concession Agreement (the Concession Agreement) which as of today has already been expired”.
“On May 1, 2017, the Arbitration ruled that TOT should pay the revenue share of the international direct dialing service during November 2008 to September 2012 to AIS in the total amount of Baht 1,354 million including interest at the rate of 7.5 percent per annum as well as the revenue share from the period of October 2012 until the end of the Concession Agreement. TOT then submitted the petition to the Central Administrative Court asking for the revocation of the Arbitration ruling that order TOT to pay the revenue share of international direct dialing service to AIS following the Arbitration ruling.”
Regarding the ruling of the Administrative Court, TOT still has the right to appeal to the Supreme Administrative Court within 30 days.