dtac Transformation

dtac notifies SET that the Tender Offerors have declined the Voluntary Tender Offer; parties remain committed to the amalgamation

November 22, 2022 - Total Access Communication Plc. or dtac has informed the Stock Exchange of Thailand that the companies jointly owned by Telenor and CP Group (Citrine Global Company Limited and Citrine Venture SG Pte. Ltd), have declined the Voluntary Tender Offer (VTO) to the shareholders in dtac and True in compliance with law. Companies jointly owned by Telenor and CP Group announced a VTO to purchase the shares in dtac and True under the tender offer regulation of the Securities and Exchange Commission of Thailand. The VTO was made subject to conditions precedent which have not been met within the one-year period. Therefore, in line with the tender offer regulations, the parties have denounced their intention to carry out the VTO. The shareholders and investors of True and dtac can continue to trade shares in the market or remain as shareholders in the new company, which will be listed on the Stock Exchange of Thailand. The parties are working on concluding necessary assessments to proceed with the amalgamation and finalize the transaction within the first quarter of 2023. The new company as a Telecom-tech company will have more opportunity to serve customers and increase value of investment for…

Mobile connectivity can supercharge careers, but employers need to do better – Telenor Asia study

More Women and C-suite executives say they gain from mobile connectivity at work. Workplace policies and practices lag new work realities, preventing people and organisations from fully realising their potential. Respondents in Singapore most sceptical about benefits of mobile technology for work. 2 November 2022 - Improved productivity, enhanced career skills and tapping into new business opportunities are just some of the ways people in Asia are turning to their mobile phones to enhance their working lives, according to a study by Telenor Asia. The study, and second instalment in the “Digital Lives Decoded” series launched in conjunction with Telenor Asia’s 25th anniversary, looks at how respondents across the region are using their mobiles to adapt to changing realities, as new work cultures emerge post-pandemic. It also examines the changing relationships between employers and employees, highlighting growing concerns over trust and control as hybrid work imposes a physical disconnect between employees and their managers. The study surveyed 8,000 mobile internet users across eight countries (Bangladesh, Indonesia, Malaysia, Pakistan, the Philippines, Singapore, Thailand, and Vietnam) in South and Southeast Asia. Thailand A notably larger proportion of women (61%) than men (39%) in Thailand feel their career and skills development is…

dtac receives official notification of the plan for amalgamation from NTBC

October 25, 2022 – dtac has received the notification letter from the NBTC on October 25, 2022, acknowledging the amalgamation between dtac and True. dtac will assess the conditions thoroughly and report any significant progress to the Stock Exchange of Thailand. dtac and True will continue to run their businesses independently in the meantime.

Telenor Asia Expands Presence in Singapore to Capture Regional Opportunities

October 25, 2022 – Telenor Group, a leading global telecommunications company serving 175 million customers in the Nordics and Asia, announced the formation of Telenor Asia, a more independent regional entity with headquarters in Singapore. Telenor Asia will take on full oversight and responsibility for the company’s operations in Thailand, Bangladesh, Malaysia and Pakistan. “The strengthened team at our Singapore headquarters will add value to our operations and safeguard our interests in the region. This will also help us ensure value creation of our assets, and we will explore structural partnerships or, in the future, a potential IPO,” said Jørgen Rostrup, Head of Telenor Asia. “The foundation for our continued growth in Asia is how our services help improve people’s lives and empower societies. In a recent survey we conducted of 8,000 people in South and Southeast Asia, a resounding 93% said that mobile connectivity improved their quality of life,” he added. Each market will now have dedicated Investment Management teams. These teams will take on an asset manager role and represent Telenor’s interests in local boards. The team in Singapore will also be strengthened with expertise in finance, operations, risk management, governance, people management and responsible business. In 2021,…

Efficiency measures continue to help deliver a healthy EBITDA margin despite slow macroeconomic recovery

21 October 2022 – Total Access Communication PLC., or dtac, reported ongoing growth momentum in subscriber acquisition driven by improved customer experience due to focused network expansion. As a result of strategic focus on efficiency, the company continued to deliver a solid EBITDA margin in Q3 2022 amidst macroeconomic pressure driven by inflation. Sharad Mehrotra, dtac’s Chief Executive Officer, said, “During the third quarter of 2022, Thailand continued to witness slow macroeconomic recovery amidst various external challenges. The country is witnessing ongoing growth in tourists and migrants, however, higher inflation rates are resulting in increasing costs and reduced spending capability of consumers. The competition in the telecom sector continued to remain fierce in the third quarter. Despite such external challenges, dtac continues to remain focused on strategic priorities to deliver value for customers. Having achieved the ambition to expand 5G coverage to 77 provinces in 1H22, dtac focused on enhancing the experience for customers through continued rollout of 5G sites, adding ~0.6K new sites in Q322. Deployment on low-band continued with an additional 1.0K new sites, reaching approximately 18,800 on the 700 MHz. Net Promoted Score further improved from last quarter while network complaints continued to decline. dtac added 775,000…

5 aspirations from the telecom-tech company – providing excellent customer benefits and promoting Thailand to become a leading digital economy in ASEAN

October 18, 2022 - As the global economy is entering an era of volatility marked by technological advancement, Thailand is transforming itself to compete on the global stage. The core purpose of merging the businesses of True and dtac is to enable quicker and more comprehensive nationwide rollout of digital infrastructure and to harness critical and emerging technologies as an enabler of new possibilities to drive sustainable change and advance human rights by promoting equitable access to digital technology – to support the Government’s Thailand 4.0 strategy. The parties have been clear from the start – this is a technology-motivated transaction to bring Thailand the communications networks it needs and deserves to compete within ASEAN and beyond. The Amalgamation will facilitate the rollout of 5G and related technology in line with the ‘Thailand 4.0’ economic model. The parties will work towards transforming Thailand into an economy defined by technology and innovation by combining True and dtac’s complimentary skills and resources to unleash growth across the Nation. As part of this journey, the parties urge NBTC to, in accordance with international best practice, allow dtac and True to engage with NBTC on the merger and ensure that the merger safeguards consumers…

dtac notifies the Stock Exchange of Thailand after convening the Board of Directors Meeting to consider the extension of period for holding the Joint Shareholders Meeting regarding the amalgamation

26 August 2022 – Total Access Communication PCL or dtac has submitted a notification letter to the Stock Exchange of Thailand after the Board of Directors Meeting today. The Board of Directors approved holding an interim Joint Shareholders Meeting No. 1 on 3 October 2022 in order for the shareholders of dtac and True to consider extending the period for considering matters concerning the amalgamation at a subsequent Joint Shareholders Meeting. Based on relevant NBTC notifications, NBTC guideline on mergers and past practices of the NBTC considering merger transactions, the NBTC was expected to issue its final report on the proposed amalgamation within 90 days from the date of submission of the amalgamation report. However, the NBTC is currently still considering the amalgamation. As a consequence, dtac and True may not be able to convene the Joint Shareholders Meeting within 6 months from the date on which the Extraordinary General Meeting of Shareholders No.1/2022 of dtac and the 2022 Annual General Meeting of the Shareholders of True approved the Amalgamation. Mr. Sharad Mehrotra, CEO of dtac, stated “We have supported the NBTC in its review of the proposed amalgamation since the notification was filed in January. We expect the amalgamation…

Telenor and CP commit THB 7.3 billion to support Thai promising start-ups, to benefit Thai consumers

Telenor Group and CP Group will raise up to 200 million USD or 7.3 billion baht to support startups to promote innovative technologies. It includes a new VC fund to identify best ideas from Thai startups, supporting them to become successful at regional, national and international levels. Promising Thai start-ups will have access to technology and expertise from Telenor’s business in Nordic and Asian countries as well as from CP’s related businesses. Mr. Sigve Brekke, President and Chief Executive Officer (CEO) of Telenor Group said: “the new company will play an important role to drive Thailand’s digital economy and society, so that Thailand will be able to compete sustainably while helping to achieve the government’s goals for “Thailand 4.0”. With this added focus on nurturing innovative companies and supporting tech startup entrepreneurs, it is estimated that the venture fund can create between 250-2000 potential new jobs*. Given venture investments’ ability to bring about greater economic growth and stronger employment, our commitment to invest in Thai start-ups can bring about significant benefits for the Thai economy”. Mr Suphachai Chearavanont, Chief Executive Officer of CP Group and Chairman of the Board of True Corporation added: “the Venture Capital Fund worth US$200 million…

dtac clarifies to SET on news in media relating amalgamation

July 22, 2022 - Total Access Communication Public Company Limited, or dtac, refers to reports in the Thai media on 22July 2022 concerning alleged voting by the National Broadcasting and Telecommunications Commission (“NBTC”) sub-committees, which are reviewing the proposed amalgamation between the Company and True Corporation Public Company Limited. dtac has submitted a letter to SET to confirm that the Company has not received any reports or findings by the NBTC or any of its sub-committees concerning any voting on the Amalgamation. dtac also understand that Mr. Trairat Viriyasirikul, Acting Secretary General of the NBTC, has addressed the above-referenced news reports in a press release issued on the NBTC’s website https://www.nbtc.go.th/News/Information/55369.aspx?lang=th-th , stating that the information in such reports is factually incorrect, as the NBTC sub-committees have not published any reviews of or voting on the Amalgamation, and that the NBTC review process is still under consideration.

DTN issues bonds for 9,871 million baht as targeted

18 July 2022 - Mr. Nakul Sehgal, Chief Financial Officer of Total Access Communication Public Company Limited (dtac) revealed that the bond issuance of dtac TriNet Company Limited (DTN) No. 1/2022 offered on 11,12 and 14 July have met their target, reflecting confidence in DTN’s fundamentals from institutional investors, cooperative investors, and high net worth investors. In this regard, DTN has offered 5 tranches of senior and unsecured bonds with bond holder representatives totaling 9,871 million baht, consisting of (i) a first tranche with a maturity of 1 year 6 months and a fixed interest rate of 3.01% per annum for 3,881.9 million baht, (ii) a second tranche with a maturity of 3 years and a fixed interest rate of 3.50% per annum for 2,301.5 million baht, (iii) a third tranche with maturity of 5 years and a fixed interest rate of 4.00% per annum for 1,557.3 million baht, (iv) a fourth tranche with a maturity of 7 years and a fixed interest rate of 4.20% per annum for 958.5 million baht, and (v) a fifth tranche with a maturity of 9 years and a fixed interest rate of 4.46% per annum for 1,171.8 million baht. Interest will be paid…

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