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November 28, 2007 |
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TOTAL ACCESS: Confident of Outcome of TOT's Access Charges Suit Total Access Communications PCL admitted that they have no funds reserved for access charges if it loses the case filed by TOT PCL, but said it was strong enough to afford the expenses, DTAC's president, Sigve Brekke, told the Bangkok Post. Mr. Brekke also expressed confidence of winning the case. DTAC, along with True Move PCL, stopped paying access charges in November 2006 to TOT to adopt the National Telecommunications Commission's interconnection scheme, the Post recounts. Because of this, TOT sued DTAC, True Move and CAT Telecom, of which DTAC and True are concessionaires, for payment of the access charges plus THB15 billion in interest. Meanwhile, Advanced Info Services delayed a decision seeking to collect interconnection charges from True Move and DTAC in light of TOT PCL's case against the two firms over unpaid access charges, the report says. AIS' president, Wichian Mektrakarn, told the Post that they require an immediate resolution of the case before they start collection the two firms debt, which total THB2.5 billion. THB2 billion will come from DTAC, Mr. Wichian said, while THB500 million from True during the February 1-October 17 period. "If the court rules in favour of private operators, AIS will immediately accept IC payments," Mr Wichian told the Post. Total Access Communications, DTAC -- http://www.dtac.co.th/ -- is the second-largest cellular operator in Thailand with an approximately 30% market share and strong brand recognition. With Telenor's recent purchase of a 39.9% interest in United Communication Industry Plc and its subsequent tender offers for UCOM and DTAC shares, Telenor lifted its aggregate economic interest in DTAC to 70.2% from 40.3%. DTAC is Telenor's largest acquisition in Asia and it ranks second in terms of EBITDA contribution outside Norway. * * * The Troubled Company Reporter-Asia Pacific reported on April 3, 2006, that Moody's Investors Service has upgraded its corporate family and senior unsecured rating for Total Access Communications Public Co Ltd to Ba1 from Ba2 with a positive outlook. This concluded the review for possible upgrade commenced on October 21, 2005. Standard and Poor's gave the company a BB+ Long-term local and foreign issuer credit ratings. Fitch Ratings on July 18, 2006, has affirmed DTAC's Long-term foreign currency Issuer Default Rating at BB+ and National Long- term rating at A(tha). The company's National Short-term rating was also affirmed at F1(tha). The Outlook on the ratings is Stable. |
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