(Bangkok, 14th) The Bangkok Metropolitan Administration (BMA) has pledged to resolve its 30 billion baht (approximately RM3.97 billion) debt related to the Green Line electric railway within 30 days.
The BMA still owes Bangkok Mass Transit System Public Company Limited (BTSC) over 31.5 billion baht (approximately RM4.17 billion) in operation and maintenance (O&M) fees.
This announcement was made after a special committee’s report revealed the full details of the debt, which includes both principal and interest.
According to committee member and Bangkok city councilor Kanoknuch Klinsung, the total amount owed includes:
12.2 billion baht (approximately RM1.61 billion) from legal cases between 2021 and 2022;
17.1 billion baht (approximately RM2.26 billion) from November 2022 to December 2024;
It is estimated that a further 8.3 billion baht (approximately RM1.1 billion) will be added in 2025.
Currently, negotiations between the BMA’s subsidiary Krungthep Thanakom and BTSC have stalled.
The BMA has proposed paying part of the debt on the condition that BTSC must unconditionally withdraw its legal actions. If an agreement cannot be reached, the case will be referred to the Central Administrative Court.
On the other hand, BTSC has countered by demanding that the BMA fully settle the amount owed no later than October 2025, or any late payments will incur an interest rate of MLR+1%.
The committee has recommended that the BMA expedite negotiations, warning that further delays will result in continued interest accrual and could cause financial losses.
Bangkok Governor Chadchart Sittipunt has confirmed receipt of the report and stated that the BMA is reviewing its financial reserves to determine if they are sufficient to make the payment. He emphasized that all options and details will be reviewed and a solution will be found within 30 days.
The BMA still owes Bangkok Mass Transit System Public Company Limited (BTSC) over 31.5 billion baht (approximately RM4.17 billion) in operation and maintenance (O&M) fees.
This announcement was made after a special committee’s report revealed the full details of the debt, which includes both principal and interest.
According to committee member and Bangkok city councilor Kanoknuch Klinsung, the total amount owed includes:
12.2 billion baht (approximately RM1.61 billion) from legal cases between 2021 and 2022;
17.1 billion baht (approximately RM2.26 billion) from November 2022 to December 2024;
It is estimated that a further 8.3 billion baht (approximately RM1.1 billion) will be added in 2025.
Currently, negotiations between the BMA’s subsidiary Krungthep Thanakom and BTSC have stalled.
The BMA has proposed paying part of the debt on the condition that BTSC must unconditionally withdraw its legal actions. If an agreement cannot be reached, the case will be referred to the Central Administrative Court.
On the other hand, BTSC has countered by demanding that the BMA fully settle the amount owed no later than October 2025, or any late payments will incur an interest rate of MLR+1%.
The committee has recommended that the BMA expedite negotiations, warning that further delays will result in continued interest accrual and could cause financial losses.
Bangkok Governor Chadchart Sittipunt has confirmed receipt of the report and stated that the BMA is reviewing its financial reserves to determine if they are sufficient to make the payment. He emphasized that all options and details will be reviewed and a solution will be found within 30 days.