Jasmine seeks 25% revenue rise

Jasmine seeks 25% revenue rise

Jasmine International Plc has set an ambitious target of a 25% increase in revenue and boosting the subscriber base of its broadband operating unit this year after launching its broadband infrastructure fund.

Triple T Broadband, Jasmine's broadband internet arm, expects to have an additional 400,000 subscribers, bringing the total to 2 million this year.

Revenue is projected to increase by 25% this year, Jasmine chief executive Pete Bodharamik said yesterday.

Jasmine achieved nine-month consolidated revenue of 8.19 billion baht last year compared with 9.62 billion for all of 2013.

Triple T generated more than 90% of that consolidated revenue.

Mr Pete said Triple T would spend 6 billion baht to expand its fibre-optic network and last-mile locations nationwide to serve an expected increase in broadband demand.

The expansion could extend its service coverage to 7,400 districts nationwide this year.

"We plan to transfer additional fibre-optic cable to the Jasmine Broadband Internet Infrastructure Fund (JASIF) over the next two years," Mr Pete said.

Jasmine yesterday officially announced the roll-out of what will be the country's first broadband internet infrastructure fund next month.

The company expects to earn 4.9 billion baht from broadband network rental fees this year from the JASIF, expected to be worth 55 to 57.8 billion baht.

Jasmine will offer 5.5 billion units of the JASIF at an initial price of 10.50 baht apiece.

Of the total, 3.3 billion units will be reserved for institutional and retail investors in the country and the remaining 2.2 billion units for abroad.

The subscription period for investors in the country will run from Jan 28 to Feb 3.

General subscribers must subscribe to a minimum of 2,000 units and in multiples of 100 units.

Mr Pete said Jasmine expected to pay a dividend yield of between 8.6% and 9.02% for fiscal 2015.

Jasmine is set to buy 33.33% of the total 5.5 billion units of the JASIF and will hold the stake as a long-term investment.

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