CHO Reports of Receiving Full NGV Buses Payment, More to Come from Maintenance Contract

CHO has reported of receiving full NGV buses payment while more to come from 10-year maintenance contract.

Regarding Cho Thavee Public Company Limited (CHO), on behalf of “SCN-CHO Consortium”, awarded a contract from the Bangkok Mass Transit Authority (BMTA) for sales, repair and maintenance services of 489 NGV air-conditioned buses, SCN-CHO Consortium has reported that on March 12, 2019, SCN-CHO Consortium has delivered NGV buses to meet the total amount of 489 units. The payment has been received on April 11, 2019, and already received in full amount according to the contract.

The total amount of this contract is THB 1,891 million. Besides the payment from the sales of NGV buses, SCN-CHO will also receive income from maintenance worth ฿30 million per month or ฿360 million a year for 10 years.