The share price of Airports of Thailand Public Company Limited (SET: AOT) made a sharp plunge at the open of the afternoon session following the report of liquidity crunch from its main concessionair.
Investors were offloading AOT after the opening bell in the afternoon session as share price plunged 9% to THB49.50 per share, the lowest level since August 2020.
Reports from the analyst meeting stated that King Power, AOT’s main concessionair is facing some liquidity issues and requested AOT for a postponement of its Minimum Guarantee Payment by 18 months.
Concession revenue accounts for 33% of CGS International Thailand (CGSI)’s FY25F total revenue and constitutes the majority of core net profit forecasts.
