Page 19 - 56-1 One Report 2022 EN

Part 1 Business Operation and Operating Performance

administer satellite projects. The agreement expired on 10 September 2021 and the Company completely
handed over possession of the satellites and other assets under the agreement to MDE on the date of the
end of the satellite operation agreement. National Telecom Public Company Limited has been assigned
by the Ministry of Digital Economy and Society to operate satellites after the expiry of the Concession.
2. After the end of the satellite operation agreement for domestic, the Company’s subsidiary has entered
into the memorandum of agreement to purchase some bandwidth capacity on Thaicom 4 and Thaicom 6
Satellites from National Telecom Public Company Limited. Therefore, the group of Company is able to
continue providing transponder services on Thaicom 4 and Thaicom 6 Satellites to some of the existing
customers from 11 September 2021 onwards.

3. On June 8, 2021, the Company established TC Space Connect Company Limited (TCSC) to provide
services for communication, satellite, and related business, with registered capital of Baht 100 million, at
par value of Baht 10 per share and paid-up capital of Baht 25 million. THCOM holds 99.99% stake of its
share capital.
2020

1. The Company reported the end of service and completed the deorbiting of Thaicom 5 on 26 February 2020
at 4.52 p.m. (Local Time). This was resulting from Thaicom 5 experiencing a technical issue on 17
December 2019 that caused technical limitations to monitor the status of the satellite. The Company has
performed several unsuccessful attempts to recover the satellite’s technical incident ever since the
anomaly occurred, resulting in the satellite manufacturer’s opinion to deorbit the Thaicom 5 satellite.
Thaicom 5 provided reliable satellite communication services for 14 years since its launch in May 2006.

2. On June 26, 2020, National Telecom Public Company Limited and the Company established a new joint
venture company under the name of Nation Space and Technology Company Limited to provide services
relating to satellite business. Its registered capital was Baht 10 million for 1 million shares at par value of
Baht 10 per share, which was fully paid-up. The share proportion between the Company and National
Telecom Public Company Limited was 75% and 25%, respectively.

3. On July 21, 2020, AI and Robotics Ventures Company Limited (ARV), a subsidiary of PTT Exploration and
Production Public Company Limited, and Thai Advance Innovation Company Limited (ThaiAI), a subsidiary
of the Company, established a new joint venture company named ATI Technologies Company Limited to
develop, produce, and distribute unmanned aerial vehicle (drone) for Thailand’s agricultural sector. Its
registered capital was Baht 20 million for 4 million shares at a par value of Baht 5 per share, which was
paid up at Baht 12 million. The share proportion between Thai AI and ARV, each holds 50% and 50%,
respectively.

4. Orion Satellite Systems Company (Orion), a part of the IPA Group of Companies owned by the Company,
received the winning award of the 2020 CRN Impact Award for Network Evolution. The CRN Impact Awards
celebrate technology providers delivering outcomes for customer organizations and building Australia’s
innovation economy.

1.1.3 Propose of Fund Raised
-None-

Part 1 page 6
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