BTS is expected to receive the long-awaited O&M payment from BMA at the amount of 14.5 billion baht by this week, while also anticipating the remaining 30 billion baht of another O&M for the Green Line to be settled by next year.
Mr. Surapong Laoha-Unya, Chief Executive of MOVE Business Unit and Director of Bangkok Mass Transit System Public Company Limited (BTSC), a subsidiary of BTS Group Holdings Public Company Limited (SET: BTS), disclosed to “Kaohoon” that the Bangkok Metropolitan Administration (BMA) has informed the company of its plan to settle debts related to operations and maintenance (O&M) of the Green Line metro project. This follows approval from the Bangkok Metropolitan Council to allocate 14,549,503,800 baht from its reserves, with payment expected by the end of this week.
Once the payment is made, BTSC will use it to settle due debts first, with the remaining funds contributing to the company’s working capital to address outstanding liabilities. This settlement is expected to reduce the company’s debt-to-equity (D/E) ratio to below 2 times.
Mr. Surapong further mentioned that negotiations with the BMA regarding the remaining 30 billion baht O&M debt for the Green Line will continue shortly after receiving the 14.5 billion baht payment.
Additionally, BTS is open to discussions with the government about repurchasing concessions for the Green, Pink, and Yellow Line metro trains if offered a suitable price, aligning with the policy of offering a 20-baht fare across the line. However, even if the concessions are sold, BTS will continue to operate the trains, ensuring a steady and reliable income stream.
Mr. Napapol Chirakul, a Bangkok Metropolitan Council member from Bangkhae Noi district and chairman of the ad hoc committee studying the issues related to the Green Line project, revealed to “Kaohoon” that discussions with Bangkok Governor Chadchart Sittipunt are ongoing regarding O&M debt settlement plans. The matter is expected to be deliberated during the Bangkok Metropolitan Council’s regular session in January 2025.
