Jasmine International Public Company Limited operates telecommunications, media, and technology businesses in Thailand through its subsidiaries. It reports three segments: Media and Content; Digital Asset and Technology Solution; and Other. Its services include IPTV and online movie content, satellite telecommunications, internet and international calling cards, system integration, software development, cloud computing, data communication, circuit leasing, Bitcoin mining, cloud AI, IoT, fintech, and energy management consulting. The company was founded in 1982 and is based in Nonthaburi, Thailand.
JTS prepares to sell JASTEL for no less than 6 billion baht after buying it for 1.201 billion baht
Jasmine Technology Solution Public Company Limited, or JTS, is preparing to sell Jasmine Telecom Network Company Limited, or JASTEL, after being approached by the financial advisor of a company interested in acquiring all of JASTEL's shares. The sale price will be no less than 6 billion baht, with a four-month timeframe set for due diligence and price negotiations. JTS previously bought JASTEL from Jasmine International Public Company Limited, or JAS, owned by tycoon Pitch Potharamik, in early 2021 through its subsidiary Jasmine Submarine Telecommunications Company Limited, or JSTC, for 1.201 billion baht. This sale will give JTS a large sum to shore up its liquidity after it suffered severe liquidity problems and defaulted on three series of debentures totaling 420.15 million baht, for which it has just received approval from debenture holders to extend the maturity in exchange for higher interest rates. Meanwhile, JASTEL is the network service provider for 3BB, or Triple T Broadband Public Company Limited, or TTTBB, which is now an asset of Advanced Info Service Public Company Limited, or ADVANC.
Cloud & Digital Infrastructure › Telecom Towers, Fiber & Colocation Capital
JTS.BK · Capital · Positive JTS is preparing to sell JASTEL for no less than 6 billion baht, far above its 1.201 billion baht purchase price, shoring up liquidity after its debenture default.
Jastel Network Co., Ltd. · · Neutral JASTEL is the asset being sold by JTS; the sale is a transaction for the parent, with no independent operational impact on JASTEL itself.
Jasmine Submarine Telecommunications Co., Ltd. · · Neutral JSTC, JTS's subsidiary, originally bought JASTEL in 2021; mentioned only as the historical acquirer, no new development.
JAS.BK · · Neutral JAS sold JASTEL to JTS in 2021; mentioned only as the prior seller, no new development affecting JAS.
Broker expects JAS to post heavy loss in 2Q26 but turn profitable in 1Q27
Bualuang Securities estimates that JAS will remain deeply in the red in the second quarter of 2026 even as revenue rises to 1.4 billion baht, up 106% year on year and flat quarter on quarter. Media and content revenue came in at 811 million baht, up 876% year on year but down 11% quarter on quarter, supported by steady revenue of about 250 million baht per quarter from EPL Vietnam and JAS TV, and roughly 560 million baht from EPL Thailand. The digital asset and technology business contributed 597 million baht, up 5% year on year and 19% quarter on quarter. However, Club World Cup costs dragged gross margin down to minus 44%, and SG&A as a share of sales rose to 18.7%, resulting in an operating loss of 697 million baht. For the 2026/27 EPL season, ARPU is expected to rise to 290 to 321 baht per month from 198 baht per month in the previous season, after price adjustments and the introduction of two-screen access, with an initial user base of roughly 700,000 to 800,000, close to last year. But subscriber growth may be slower than in the prior season because of higher prices and competition from illegal channels. Currently about 25% of subscribers are on long-term packages, and based on the Club World Cup package priced at 6,420 baht per year, this locks in roughly 100 million baht in revenue per month, against a break-even point of about 400 million baht per month, or 1.3 to 1.4 million subscribers. Beyond the EPL, the company is expanding its sports content base, with volleyball adding about 170,000 subscribers, and it has begun using original series to boost engagement time and drive cross-segment content sales over the longer term. The third quarter of 2026 is expected to remain loss-making but improve from the previous quarter, once the EPL returns to full-quarter revenue recognition. The broker sees a return to profit as more likely in the first quarter of 2027 than in the fourth quarter of 2026, driven by momentum from key matches in the second half of the season. Nevertheless, the target of 2 million subscribers remains challenging, with the key variable being the pace of subscriber growth after the price increase.
JAS.BK · Capital · Negative Broker expects JAS to remain deeply in the red in 2Q26 with an operating loss of 697 million baht as Club World Cup costs crushed gross margin to minus 44%.
JAS.BK · Pricing · Neutral EPL ARPU is set to rise to 290-321 baht/month from 198 baht after price adjustments and two-screen access, but higher prices may slow subscriber growth.
MONO expects continued profit in Q3 2026, targets 3 million Premier League members
Mono Next Public Company Limited, or MONO, expects third-quarter 2026 results to remain profitable after the second quarter of 2026, with the second half of the year outperforming the first half. The company aims to increase Premier League members for the 2026/27 season to 3 million by the end of this year, up from 1.6 million in the previous season. It is also in talks through group companies such as Jasmine International to expand Premier League broadcast rights across ASEAN, after securing additional rights in Vietnam in December 2026, which will allow full-season revenue recognition this year. Meanwhile, MONO is restructuring into a streaming-first organisation, cutting unprofitable businesses and rebranding Mono 29 as Monomax Sports TV. MONOMAX currently has more than 3.5 million users, comprising 1.6 million Premier League members, 250,000 entertainment subscribers, 200,000 basic package subscribers, 100,000 premium subscribers, and over 1 million free-tier users. The Stock Exchange of Thailand has kept the CB designation on MONO shares because shareholders' equity is less than 50% of paid-up capital and the company has accumulated losses of 3.8 billion baht. In the second quarter of 2026, MONO posted a net profit of 2.6 million baht, compared with a loss of 7.6 million baht in the first quarter.
JAS.BK · Demand · Positive MONO's expansion of Premier League broadcast rights across ASEAN through group companies like Jasmine International could increase demand for Jasmine's services.
Monomax upgrades streaming on AWS, ready for 4K Premier League 2026/27
Monomax, the streaming platform of Mono Streaming Company Limited under MONO, has selected the AWS Asia Pacific Thailand Region as its core infrastructure to improve stability, security, and support for large audiences, preparing for 4K streaming of the 2026/27 Premier League season. During the 2025/26 season, the platform supported more than 400,000 concurrent viewers in the match between Manchester United and Liverpool. The new architecture uses AWS Elemental Media Services, Amazon CloudFront, AWS WAF, and AWS Shield Advanced, along with Amazon ECS, Amazon ElastiCache, and Amazon RDS, to support live sports and on-demand content. Monomax is also preparing to launch a Public Service Status Page so users can check service status, and has received cooperation from JAS as the rights holder for global sports including the Premier League, Emirates FA Cup, Volleyball World Championship, and UEFA European Championship.
JAS and the lesson of buying the rumor, selling the news before and after the World Cup
JAS stock serves as a case study in buying on expectation and selling on reality. The price rose from the time rumors circulated that the company was negotiating broadcasting rights for the 2026 and 2030 World Cups, before officially announcing on June 11, 2026 that it had secured the rights worth around 70 million US dollars, or approximately 2.3 billion baht. The Stock Exchange of Thailand temporarily placed an H sign on the stock to require clarification of material information. Investors then shifted from buying the dream to assessing actual figures, such as the number of new Monomax subscribers, advertising revenue, and the return on an investment of over 2.3 billion baht. During the tournament, the company must prove that the investment truly creates value. After the event ends, the market will watch whether subscribers stay on, whether other sports content can retain the customer base, and whether the investment will be worthwhile in the long term, which will determine the stock's future direction.
Thailand