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Somkid Wangcherdchuwong, a director of ITV, said in the statement to the exchange that the Company is currently awaiting the decision of the arbitration court on the contingent liabilities or compensation for damages arising from the illegal termination of the concession agreement.

 "The compensation depends on the final ruling, which cannot be predicted and may have a significant impact on the company in the long term."

 As of June 30, ITV's shareholders equity is minus Bt1.948 billion and it shouldered Bt330 million in interest from the disputed concession per annum. To avoid being delisted, it needs a new business which could generate minimum accumulated profit of Bt1.948 billion in

order to create positive shareholders' equity. Once this has been achieved, the company has to generate an accumulated profit of at least Bt250 million in the next three consecutive quarters or Bt330 million in one year in case of inconsecutive profit.

 Due to the constraints, Somkid said the company needs more time to review the feasibility study on new business opportunities which have a high potential for generating profit.

- The Nation