Krungthep Thanakom Co (KT) — the Bangkok Metropolitan Administration’s (BMA) business arm — looks set to charm a court judgment ordering both parties in order to jointly pay near to 12 billion baht in overdue debts incurred through the operation and maintenance of Green Line extensions.
The Main Administrative Court recently ruled in favour of Bangkok Mass Transit System Plc (BTSC), the particular operator of the Green Line, also known as BTS Sky Train, which usually demanded the transaction of overdue financial obligations totalling 11. 75 billion baht, which includes interest.
Bangkok governor Chadchart Sittipunt said the BMA still has the right to appeal the ruling within 30 days, saying its lawful advisers and executives will first need to deliberate as to what alternative will be best to consider.
A board meeting will be held today to discuss the ruling plus explore ways to respond to the order, stated Prasang Mongkonsiri, managing director of KT. Recommendations from the conference, to be chaired simply by Tongthong Chandransu, is going to be forwarded to Mister Chadchart for a choice, said Mr Prasang.
The particular payment now needed under the court ruling needs to be made within 180 days following the case is complete.
This consists of two parts, an amount for the operation and maintenance of the first extension and the other for the same costs for that second extension.
The first extension comprises On Nut-Bearing and Saphan Taksin-Bang Wa extensions, while the second extension comprises Bearing-Samut Prakan plus Mo Chit-Saphan Mai-Khu Khot extensions.
The first part of the debt, plus interest, that KT is usually ordered to pay the particular BTSC concerns the expenses of service operation and maintenance of Upon Nut-Bearing and Saphan Taksin-Bang Wa extensions from May 2019 until May 2021, which is 2 . thirty four billion baht in total.
The second part of the debt issues the costs of operation and maintenance of Bearing-Samut Prakan and Mo Chit-Saphan Mai-Khu Khot extensions from April 2017 until May 2021, which is 9. 40 billion baht in total.
A proposal continues to be submitted to the cabinet concerning swapping the first part of the debt with a brand new extension of the Eco-friendly Line concession, that the cabinet has however to decide on, said Mister Chadchart.
As for the second part of the debt, the BMA has assigned KT to have it managed, he said.
Under an agreement signed on Might 3, 2012, between the BTSC and KT and BMA, each KT and BMA were required to pay the debts.
Later, upon Dec 12, 2019, the BTSC formally requested the repayment of the outstanding financial obligations, according to the ruling.
Because KT and BMA hadn’t responded to the written request for the debt payment, the BTSC had been left with no option but to bring the matter to the court.
The company petitioned the court on July 15 a year ago to force KT and BMA in order to jointly pay their own debts.
The 11. 75 billion baht, calculated as of the day the petition was submitted, however , was just a portion of the entire quantity of debts KT and BMA have failed to repay to the BTSC since May 2019 for the Green Line’s extensions.
The total amounts how to around 40 billion dollars baht.