News
Notification of Commercial Contract at Suvarnabhumi Airport
No.163
10 January 2008
Subject: Notification of AOT Board's resolution concerning commercial contract at Suvarnabhumi Airport
To: President, The Stock Exchange of Thailand
Airports of Thailand Public Company Limited (AOT) held the Board of Directors Meeting No.1/2008 on 8th January 2008. After consideration of the facts and investigation report from the Fact-Finding Panel of Suvarnabhumi Airport, headed by Pol.Gen. Pratin Santipraphop, AOT Board of Directors found that the contract to operate commercial areas at Suvarnabhumi Airport between AOT and King Power International or King Power Suvarnabhumi Co., Ltd. at the stage of signing the contract, was worth more than one billion baht and thus should have conducted in accordance with the Public - Private Joint Venture Act B.E. 2535. Since it appeared that the contract reached by the previous AOT Board was not subject to the Act, AOT Board's resolution of the meeting No.5/2005 on 15th March 2005 was thus considered as unlawful directive and could be revoked. In addition, according to the investigation report from the Fact- Finding Panel, it revealed that such directive was conducted with an attempt to provide wrong information or conceal the fact. Therefore, AOT Board resolved to nullify its resolution of the meeting No.5/2005 on 15th March 2005 and assign AOT to proceed the following actions:
1. AOT shall notify King Power Suvarnabhumi Co., Ltd. of the Board's resolution of the meeting No.1/2008 on 8th January 2008 and execute King Power Suvarnabhumi Co., Ltd. to leave the occupied areas and pay compensation for any damage to AOT.
2. AOT shall report the Board's resolution to the Ministry of Transport for acknowledgement.
3. AOT shall charge against all related parties on the above matter to the Office of the National Counter Corruption Commission (NCCC) for further action.
4. AOT shall take disciplinary actions against the alleged parties pursuant to the law.
5. AOT shall inform the prosecutor of the termination of such directive and seek legal advice on the case of King Power Duty Free Co., Ltd., King Power Suvarnabhumi Co., Ltd. and its employees to be expelled from the occupied areas and claimed compensation for any damage to AOT.
Please be informed accordingly.
Yours sincerely,
SUWANNEE SAMRONGWATANA
Company Secretary Authorized person
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