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Post by mangomoney on Jan 29, 2016 8:26:42 GMT 7
Rerun possible for 900MHz bidFears grow that JAS lacks funding ability Published: 29/01/2016 at 05:59 AM Newspaper section: Business The telecom regulator is quietly drawing up plans to call a new auction round for the 900-megahertz spectrum if bid winner Jasmine International fails to secure the massive funding needed. The development comes in the wake of rumours circulating in the industry that Bangkok Bank initially rejected Jasmine's borrowing plan. "We will raise the planned reauction issue at our legal panel next week for consideration," said a high-ranking source at the National Broadcasting and Telecommunications Commission (NBTC). more... www.bangkokpost.com/tech/local-news/843880/rerun-possible-for-900mhz-bid
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AyG
Crazy Mango Extraordinaire
Posts: 5,871
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Post by AyG on Jan 29, 2016 12:26:05 GMT 7
I don't believe it. Mac Walen told us all what a wonderful investment JAS and JASIF are. The stocks could only soar in price. They can't possibly be having any trouble. It's all lies!
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Post by Fletchsmile on Jan 29, 2016 13:12:30 GMT 7
I don't believe it. Mac Walen told us all what a wonderful investment JAS and JASIF are. The stocks could only soar in price. They can't possibly be having any trouble. It's all lies! You could always sign up for his next online course. I believe they're nearing the end of "Investing #101 - How to claim you think you know something and try and charge people for it". The second year for his pupils starts soon and you may just catch the new syllabus: "Investing #201 - How to recover the two thirds of your money you lost by listening to your teacher"
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Post by Fletchsmile on Jan 29, 2016 13:28:02 GMT 7
For JAS and the telecoms auction it should probably have been posted in the This is Thailand/ T.I.T section on here.
If JAS can't afford things, it could get a real mess. Seems a real Mickey Mouse auction. (apologies to Micjkey Mouse for the comparison)
Weren't there any rules beforehand about what would happen if a bidder couldn't stump up the cash? Or actually even the unthinkable of people having to demonstrate their financial ability to pay beforehand. Losing their reserve deposit should be a given, but I'd have thought there should have been some rules about what happens to the licences.
This bit is bizarre:
So if JAS gets eliminated because they can't pay. True is stuck with an inflated price above what it should have had to bid, and can't even bid for the second licence? That leaves just AIS and DTAC from the original bidders.
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Post by Fletchsmile on Jan 29, 2016 13:35:21 GMT 7
Guesses as to what comes next, given T.I.T.?
1) JAS forms another company specifically to enter the bidding - like politicians do with their parties, or like defaulters on a home loan who can come and bid back for it at auction
1A)JAS Newco. wins again and still can't pay, starting all over again
2) True starts a legal battle to clarify whether all this is legal, given it loses out at an unfair price and can't bid again. This drags on for the next few years, causing overlapping legal problems with lots of other mishandled events in the future
3) AIS and DTAC as the remaining two likely bidders agree beforehand they'll form a joint venture. Both bid and get it for a steal between them.
4) Someone else steps in and wins the bid for a steal, and actually this charade had been planned all along, with all 4 original bidders given a "donation" to a cause of their choosing
T.I.T
Any more guesses?
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me
Crazy Mango Extraordinaire
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Post by me on Jan 29, 2016 15:31:44 GMT 7
So it bid and won and has a debt to pay.
A company that does not have the ability to pay its debts as they fall due is insolvent.
A company that is insolvent cannot trade and its directors are liable if it does.
where is the problem\ or have things changed since I just passed Bussiness law 101
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AyG
Crazy Mango Extraordinaire
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Post by AyG on Jan 29, 2016 15:53:54 GMT 7
A company that is insolvent cannot trade and its directors are liable if it does. where is the problem\ or have things changed since I just passed Bussiness law 101 You might want to retake Business Law 101. With a limited liability company (Ltd. or Plc. in the UK, Publicly traded company or LLC. in the US, and Plc. in Thailand) the directors are not liable for the company's debts.
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me
Crazy Mango Extraordinaire
Posts: 6,342
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Post by me on Jan 29, 2016 15:57:56 GMT 7
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Post by mangomoney on Jan 30, 2016 14:11:31 GMT 7
Investors unfazed by new auctionPublished: 30/01/2016 at 02:01 AM Newspaper section: Business The share prices of Advanced Info Service Plc (AIS), Jasmine International and True Corporation surged on Friday following reports of a potential new auction for the 900-megahertz spectrum licence. Investors are at ease that Jasmine will not need to invest enormously to enter the mobile service industry if it fails to secure funding for the licence, while AIS is expected to grab the licence if new bidding is called, said Arpaporn Sawaengpak, vice-president of DBS Vickers Securities (Thailand). She said if AIS, the largest mobile operator by subscribers, won the fourth-generation service licence, it would have enough bandwidth to support customers. AIS (ADVANC) shares led in trading value yesterday, jumping 5.3% to 169 baht at the market's close, while Jasmine (JAS) gained 1.96% to 3.12 baht and TRUE surged 6.77% to 7.10 baht. Jasmine, through subsidiary JASMobile Broadband, has been given until March 21 to make its first payment of 8.04 billion baht, half the estimated real spectrum value. It must post three bank guarantees for the remaining amounts including an additional 25% of the spectrum value to be paid this year, a final 25% in 2017 and the remaining bid amount in 2018. Jasmine won the first 900MHz licence for 75.7 billion baht or 487% higher than the reserve price of 12.9 billion. True Move H Universal Communication, a subsidiary of True Move, won the second licence for 76.3 billion baht or 491% above the reserve price. However, the higher-than-expected licence price offered by Jasmine and the massive investment needed to enter the industry triggered a rumour that Bangkok Bank refused Jasmine's borrowing plan. The National Broadcasting and Telecommunications Commission said Jasmine had until March 21 for the first payment. www.bangkokpost.com/business/telecom/845236/investors-unfazed-by-new-auction
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Post by mangomoney on Feb 3, 2016 10:04:53 GMT 7
True baulks at 4G licence fee Rumours swirl amid reauction uncertainty True Corporation has halted the first instalment payment for its 900-megahertz spectrum licence until authorities clarify conditions for a possible new auction round. The abrupt decision came just a day after a teleconference on Monday between top executives and shareholders of the company along with up to 50 global investment banks and analysts. The meeting ended with a resolution to hold off paying the bidding fee for the 900MHz licence that True won last December and wait instead for a concrete explanation from the National Broadcasting and Telecommunications Commission (NBTC) about the possible reauction. "We'll submit a formal letter to the NBTC this week seeking a resolution to any reauction's conditions before we make payment," chief financial officer Noppadol Dej-Udom said. "The move is just to ensure we don't find ourselves in the unfair position of having to pay an exorbitant licence fee alone while other bidders enjoy much lower bid prices in a new auction round. "As a matter of best practice, a fair consideration of the framework for a 900MHz reauction should be given to us." more... www.bangkokpost.com/business/telecom/849516/true-baulks-at-4g-licence-fee
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Post by mangomoney on Feb 4, 2016 9:51:29 GMT 7
The debacle continues... New 900MHz bids from B75.7bn NBTC denies drawing up reauction plansPublished: 4/02/2016 at 07:23 AM Newspaper section: Business A reauction of the 900-megahertz spectrum must begin at JAS Mobile Broadband's winning price of 75.7 billion baht, says the national telecom regulator. The price was set by the telecom committee of the National Broadcasting and Telecommunications Commission (NBTC) after an urgent meeting yesterday. The move came in response to heavy rumours circulating in the industry that JAS was having difficulty obtaining a bank loan. Advanced Info Service Plc (AIS) and Total Access Communication Plc (DTAC), both of which failed to obtain a licence, have expressed interest in a new 900MHz auction if the reserve price is not set at the previous winning price. "A reauction could be held by June if the two bid winners [JAS and True] fail to make their first instalment by March 21," NBTC secretary-general Takorn Tantasith said. "If it does take place, the government should earn no less than the previous winning price." www.bangkokpost.com/business/news/851056/new-900mhz-bids-from-b75-7bn
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Post by Fletchsmile on Feb 4, 2016 10:02:47 GMT 7
SO they want to carry on where they left off True would be OK with this decision, and the NBTC would hope to maximise their money. But are they really expecting bidders who pulled out last time because the price was too high to suddenly decide the price wasn't too high after all, and they'd like to bid more just because it was overpriced and the winning bidder who drove the price up last time couldn't afford to honour their bid
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Post by mangomoney on Feb 11, 2016 11:39:45 GMT 7
Jasmine could lose all licences Bidding fees mustbe paid by March 21 Please credit and share this article with others using this link:http://www.bangkokpost.com/business/telecom/859800/jasmine-could-lose-all-licences. View our policies at goo.gl/9HgTd and goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.
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Post by mangomoney on Mar 1, 2016 13:07:32 GMT 7
Jasmine steps back from mobile Jasmine steps back from mobile Lack of funding elicits internal debate Published: 1/03/2016 at 04:00 AM Newspaper section: Business Reports of JAS Mobile Broadband's great difficulties in paying off the 76-billion-baht fee for the 900-megahertz spectrum licence have been substantiated. The subsidiary of SET-listed Jasmine International, which won a bidding war for the licence, is now sounding out authorities' reactions about "making the payment in instalments" rather than one lump-sum as stipulated in auction rules. "The move reinforces the widespread expectation that the company has run into difficulties meeting its financial obligations," a source close to Jasmine's executives said. The National Broadcasting and Telecommunications Commission (NBTC), however, insists JAS must pay the 76-billion-baht front-end payment for the 900MHz spectrum licence in full as stipulated by the auction rules. more... www.bangkokpost.com/business/telecom/880976/jasmine-steps-back-from-mobilePlease credit and share this article with others using this link:http://www.bangkokpost.com/business/telecom/880976/jasmine-steps-back-from-mobile. View our policies at goo.gl/9HgTd and goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.
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Post by mangomoney on Mar 22, 2016 9:01:44 GMT 7
JAS 4G default makes history Firm meets deadline to pay with silence JAS Mobile Broadband is going down in Thai telecom infamy as one of its worst defaulters after executives failed to show up with a spectrum licence payment or give any explanation for the company's inaction. After... Please credit and share this article with others using this link: www.bangkokpost.com/business/telecom/905732/jas-4g-default-makes-historyView our policies at goo.gl/9HgTd and goo.gl/ou6Ip. © Post Publishing PCL. All rights reserved.
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