Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) has announced its 2Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
JASIF reported a net profit of THB 66.65 million in 2Q23, a 95% drop from THB 1,411 million in 2Q22, but improved from a net loss of THB 1,430 million in the first quarter of this year.
Total income for Q2/23 was THB 2,662.07 million, increasing 3.49% YoY and increasing 0.22% QoQ, mainly came from rental income from Optical Fiber Cables of THB 2,644.17 million, increasing 3.00% YoY and there is no change on QoQ. Interest income was THB 17.10 million, increasing 239.29% YoY and increasing 44.55% QoQ. Other income was THB 0.80 million, increasing 247.83% QoQ.
otal expenses in Q2/23 were THB 395.52 million, increasing 9.74% YoY and increasing 2.41% QoQ. Fund management fee and expenses were THB 28.63 million, decreasing 5.10% YoY and decreasing 0.76% QoQ. Operating expenses were THB 140.20 million, increasing 3.58% YoY but decreasing 0.01% QoQ (composed of Optical Fiber Cables maintenance expenses THB 106.42 million, right of way expenses THB 31.54 million and insurance expenses THB 2.24 million). Finance Costs were THB 221.30 million, increasing 17.25% YoY and increasing 2.60% QoQ. Other expenses were THB 5.39 million, decreasing 12.50% YoY but increasing 264.19% QoQ.
JASIF recorded net investment income of THB 2,266.55 million in Q2/23, increasing 2.48% YoY but decreasing 0.15% QoQ. Losses from changes in fair value of investments was THB 2,199.90 million. (In June 2023, the Fund engaged an independent appraiser to appraise the fair value of the investments. The Fund revalued such investments to be a new fair value of THB 88,900.00 million, resulting in losses from changes in fair value of investments THB 2,199.90 million from this appraisement). Net assets from operations increased THB 66.65 million, dropped 95.28% YoY but up 104.66% QoQ.
The Board of Directors approved a dividend payout of THB0.23 to be paid on September 6, 2023. The ex-dividend date is August 21, 2023.
