THCOM De-orbit “Thaicom 5”, ฿222mn of Impairment Fully Booked in 2019

Thaicom Public Company Limited (THCOM) has announced in reference to the notification to the Stock Exchange of Thailand dated 18 December 2019, 16 January 2020 and 11 February 2020 regarding the Technical Incident on Thaicom 5 Satellite, the specialist has made the recommendation that the Thaicom 5 Satellite shall be de-orbited because of the unsuccessful restoration after several attempts to restore the system.

After the last attempt to restore the system on 23 February 2020 and the system still could not be restored, it was, therefore, indispensable for THCOM to de-orbit the Thaicom 5 Satellite. The de-orbit was successfully done at 4.52 p.m. of 26 February 2020. THCOM recognized full impairment of the remaining book value of the Thaicom 5 Satellite of Baht 222 million in the financial statement for the year ended 31 December 2019.