Singapore Telecommunications’ (Singtel) Thai associate, Advanced Info Service Public Company (AIS), has received notice that its subsidiary, Digital Phone Company (DPC) will not have to make any additional payments or penalties to CAT Telecom Public Company.
This comes as the Arbitral Tribunal and Central Administrative Court dismissed CAT’s claim and subsequent appeal.
CAT, in 2008, submitted a dispute to the Arbitration Institute demanding that DPC make an additional payment of revenue share of 2.45 billion baht ($102.8 million) including penalty of 1.25% per month under the Digital Personal Communication Network (DCN) 1800 agreement.
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According to the filing put out by Singtel on July 2, the claim came as DPC had delivered the revenue share after deducting excise tax.
The claim was initially dismissed in January. CAT, at the time, was eligible to file a petition to the Central Administrative Court within 90 days to revoke the resolution.
As at 9.08am, shares in Singtel are trading flat at $2.28.
