July 30, 2024, Bangkok Mass Transit System Public Company Limited (BTS), represented by Chairman Mr. Keeree Kanjanapas, CEO Mr. Surapong Laoha-Unya, and Advisor to the Chairman Pol. Col. Suchart Wongananchai, issued a statement regarding the Supreme Administrative Court's ruling. The court has ordered Bangkok Metropolitan Administration (BMA) and Krungthep Thanakom Co., Ltd. (KT) to jointly pay the outstanding operation and maintenance (O&M) debt for the Green Line Extension Projects. This includes the first extension from Saphan Taksin - Wongwian Yai - Bang Wa and On Nut - Bearing (from May 2019 to May 2021) and the second extension from Bearing - Samut Prakan and Mo Chit - Saphan Mai - Khu Khot (from April 2017 to May 2021), amounting to approximately 11.755 billion THB.

Mr. Keeree Kanjanapas stated, "It is a great pleasure that BTS has proven the facts and received justice from the Supreme Administrative Court. It took more than three years to prove that we have always operated on the basis of correctness. Throughout this period, we have continuously clarified these facts to government agencies and the public. Today, it has been shown that BTS's efforts were not in vain. This also confirms my statement that 'BTS operates on the basis of correctness and has thoroughly consulted with our legal team. If the contract was not ready or incorrect, I would certainly not have signed it. This is because BTS is a public company, and I must be accountable to all shareholders and passengers, to whom I have always assured that we will not stop operating the trains.'"

The important aspect of the Supreme Administrative Court's ruling on the O&M debt in this case will serve as a guideline for considering the remaining debt. Initially, BTS has been informed through media reports that BMA is ready to settle the debt as per the Supreme Administrative Court's ruling in this case, amounting to approximately 11.755 billion THB. However, BTS also urges BMA and KT to consider the remaining debt, as interest is accumulating daily. As of July 25, 2024, the total O&M debt amounts to approximately 39.402 billion THB, consisting of:

• The debt amount as per the Supreme Administrative Court's ruling on July 26, 2024, for BMA and KT to jointly pay BTS approximately 11.755 billion THB.
• The debt amount for which BTS filed a lawsuit with the Central Administrative Court on November 22, 2022, for BMA and KT to pay the O&M debt for the Green Line Extension Project (for the period from June 2021 to October 2022), amounting to approximately 11.811 billion baht, which is currently under the Central Administrative Court's consideration.
• The outstanding O&M debt for the Green Line Extension Project from November 2022 to June 2024, amounting to approximately 13.513 billion THB.
• The future O&M costs for the Green Line Extension Project from the present until the end of the concession in 2042.

However, BTS is willing and ready to negotiate with BMA and KT to find a joint solution to ensure the continuity of public service and to resolve these issues. If both agencies have other proposals they would like to consider, BTS is open and ready to negotiate, provided that these proposals are fair to all parties.

"I am delighted and consider this a personal victory for fighting with integrity without giving up. I believe the debtor understands because there is nothing wrong with the contracts and procurement processes. Therefore, we have always been straightforward and have done the right thing both in our actions and my speech.  I hope that BMA and KT understand the intention of a private entity like us that has never stopped providing train services. BMA and KT should have their legal departments expedite the consideration of debt repayment to BTS promptly," Mr. Keeree said.