Jasmine Broadband Internet Infrastructure Fund (JASIF) has reported its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
JASIF reported a net profit of 2,075 million baht in 2Q21, increased 7.50% from a net profit of 1,930 million baht in 2Q20.
Total income for 2Q21 was 2,539.54 million baht, decreased 0.16% YoY and decreased 0.02% QoQ, mainly from rental income from Optical Fiber Cables of 2,535.95 million baht, no change on YoY and QoQ. Interest income was 3.59 million baht, decreased 52.89% YoY and decreased 14.52% QoQ.
Meanwhile, total expenses in 2Q21 were 364.20 million baht, decreased 13.18% YoY and increased 0.40% QoQ. Fund management fee and expenses were 30.10 million baht, decreased 4.81% YoY and increased 6.70% QoQ.
Operating expenses were 131.90 million baht, increased 1.50% YoY and increased 0.27% QoQ (composed of Optical Fiber Cables maintenance expenses 100.33 million baht, right of way expenses 29.10 million baht and insurance expenses 2.47 million baht). Finance Costs were 200.13 million baht, decreased 21.76% YoY and decreased 0.20% QoQ. Other expenses were 2.07 million baht, decreased 2.36% YoY and decreased 15.85% QoQ.
JASIF recorded net investment income of 2,175.34 million baht in 2Q21, increased 2.41% YoY and decreased 0.09% QoQ. Losses from changes in fair value of investments was 100.13 million baht. (In Jun 2021, the Fund engaged an independent appraiser to appraise the fair value of the investments.
The Fund revalued such investments to be new fair value of 100,200.00 million baht, resulting in losses from changes in fair value of investments 100.00 million baht from this appraisement). Increase in net assets from operations was 2,075.21 million baht, increased 7.50% YoY and increased 16.78% QoQ.
Total assets of JASIF as of 30 Jun 2021 stood at 104,250.95 million baht. The main component was Investment in Optical Fiber Cables (OFCs) of 100,200.00 million baht, Investment in securities at fair value and cash at bank of 4,037.78 million baht and other assets of 13.17 million baht. Total liabilities stood at 15,731.81 million baht. Net Asset Value (NAV) as of 30 Jun 2021 was 88,519.14 million baht, equivalent to 11.0648 per unit.
The Board of Directors approved a dividend payment of Bt0.24 per unit to be paid on September 7, 2021. The ex-dividend date is August 20, 2021.