Jasmine Broadband Internet Infrastructure Fund (JASIF) has reported its consolidated financial statement through the Stock Exchange of Thailand as follows:
JASIF reported a net profit of 1,670 million baht in 3Q19, increased 57.85% from a net profit of 1,058 million baht in 3Q18, mainly due to its higher rental income from Optical Fiber Cables and the appraisal of fair value of the investments in the Optical Fiber Cables.
Total income for Q3/19 was THB 1,481.22 mn, increasing 1.31% YoY and increasing 0.05% QoQ mainly came from higher rental income from Optical Fiber Cables THB 1,469.17 mn, increasing 1.07% YoY and there was no change on QoQ. Interest income was THB 12.05 mn, an increase 43.79% YoY and an increase 7.02% QoQ.
Total expenses in Q3/19 were THB 110.34 mn, increasing 6.42% YoY and increasing 4.88% QoQ. Fund management fee and expenses were THB 21.60 mn, increasing 4.40% YoY and increasing 2.47% QoQ. Operating expenses were THB 80.79 mn, increasing 8.88% YoY and increasing 11.24% QoQ (composed of Optical Fiber Cables maintenance expenses THB 55.18 mn, right of way expenses THB 24.03 mn and insurance expenses THB 1.58 mn). Other expenses were THB 7.95 mn, decreasing 9.56% YoY and decreasing 30.87% QoQ.
JASIF recorded net investment income of THB 1,370.88 mn in Q3/19, increasing 0.92% YoY and decreasing 0.32% QoQ. Net unrealised gain from investment was THB 300.08 mn. (In Sep 2019, the Fund engaged an independent appraiser to appraise the fair value of the investments in the Optical Fiber Cables.
The Fund revalued such investments to be new fair value of THB 58,100.00 mn, resulting in the net unrealised gain from investments THB 300.00 mn).