JASIF Reports a Profit of ฿9.1Bn in 2020 as Earnings-Investment Income Grow Significantly

Jasmine Broadband Internet Infrastructure Fund (JASIF) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

JASIF reported a net profit of 9,100 million baht in 2020, decreased 15.08% from a net profit of 10,716 million baht in 2019. The decrease was mainly due to an increase in expense nearly 170%.

 

Total income for FY20 was 10,171.57 million baht, increased 58.95% YoY, mainly came from rental income from Optical Fiber Cables 10,143.78 million baht, increased 59.63% YoY, (As at 20 November 2019, JASIF invested in the Additional Assets amount 700,000 core kilometres.)

As of 31 December 2020 rental rate for the Amended and Restated Main Lease Agreement was 436.29 Baht per core kilometer per month and rental rate for the Amended and Restated Rental Assurance Agreement was 769.91 Baht per core kilometer per month. Interest income was 27.05 million baht, decreased 39.30% YoY. Other income was 0.74 million baht.

 

Total expenses for FY20 were 1,571.35 million baht, increased 169.84% YoY. Fund management fee and expenses were 123.73 million baht, increased 40.06% YoY. Operating expenses were 489.34 million baht, increased 54.90% YoY. (composed of Optical Fiber Cables maintenance expenses 389.62 million baht, right of way expenses 89.79 million baht and insurance expenses 9.93 million baht). Finance Cost 948.19 million baht, increased 633.72% YoY and other expenses were 10.09 million baht, decreased 79.35% YoY.

 

JASIF recorded net investment income of 8,600.22 million baht in FY20, increased 47.85% YoY. Net Gains from changes in fair value of investments were 500.44 million baht, decreased 89.79% YoY .Increase in net assets from operations was 9,100.69 million baht, decreased 15.08% YoY.