7 กรกฎาคม 2000
Jasmine International Overseas sign debt rescheduling agreement with creditors amounting US$ 60 million
Jasmine International Overseas Co., Ltd. (JIOC) today (7 July 2000) signs the debt rescheduling agreement with 11 syndicated banks amounting US$ 60,575,000. The creditors agreed to extend 3.5 repayment period from the signing of the restructured debt agreement with the final repayment on December 31, 2003.
Scheduled Repayments :
| Installment Number |
Repayment Amount |
Repayment Date |
| 1 |
US$ 8,375,000 |
31 December 2000 |
| 2 |
US$ 26,700,000 |
31 December 2001 |
| 3 |
US$ 24,200,000 |
31 December 2002 |
| 4 |
US$ 1,300,000 |
31 December 2003 |
Mr. Songrit Kusomrosananan, president of Jasmine International Public Company Limited (JASMIN), disclosed that JIOC has previously repaid US$ 19.4 million to the banks and it plans to use the US$ 9.37 million proceed from the sales of JI Mobiles which was sold in 1999 to repay for the debt due in 2000.
At present, Jasmine International Overseas Co., Ltd. holds 100% shares in ACeS Regional Services Co., Ltd. (ARS), the sole national service provider of Asia Cellular Satellite System mobile phone in Thailand, and holds approximately 12% stakes in ACeS International, the operator of ACeS project. The Company sucessfully launched Garada satellite into the orbit and already completed its Thailand's gateway construction and installation of hardware and software since the beginning of the year. At present, ARS is in the period of system testing of gateway and ACeS's system with fixed line network, international network and GSM roaming network. Voice quality from system testing is regarded as excellent. The Company is firmly confident in the project efficiency and readiness competing in mobile phone satellite service at inexpensive price due to lower investment cost. Price of ACeS's handset is set at approximately 40,000 baht and airtime charge within 24 countries across Asia Pacific region will be less than $US 1 per minute. Local call within Thailand will be 24 baht per minute. ACeS's project is ready for commercial launching within the 2000 yearend.
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