GULF has clarified reports that the Cabinet approved the Ministry of Digital Economy and Society to take legal action against THCOM and GULF regarding the satellite concession agreement. The company confirmed that THCOM had fully transferred assets back to the ministry on September 11, 2021, in accordance with the 30-year concession, and that there is no obligation to pay a fine of approximately 1.25 billion baht as reported. Subsequently, on April 1, 2025, GULF Energy Development completed its merger with INTUCH, forming GULF, which assumed INTUCH's rights and obligations, including becoming a party to related disputes. Should arbitration proceedings commence, GULF will defend its case within the legal framework to protect the rights and interests of the company, shareholders, and stakeholders. The company will notify the stock exchange and shareholders of any further developments.
Thaicom Public Company LimitedTHCOM is subject to legal action and potential fine regarding satellite concession, despite asset transfer.
Gulf Energy Development Public Company LimitedGULF faces potential legal action and arbitration over THCOM satellite concession, though it denies fine obligation.
