A BBL executive said yesterday that the bank alone could provide financial support to Jasmine but the company had to submit a formal business plan to the bank first.

The company needs help to pay the first instalment of its upfront licence fee to the telecom regulator and post bank guarantees for the balance.

The source said the Bt75.6 billion that Jasmine quoted to win the 900MHz licence last December was higher than Bt40 billion, which was the estimated upfront licence price in the bank’s initial talks with JAS on possible financial support.

The two 900MHz licence winners, Jasmine and True Corp, are required to pay the first instalment of the upfront licence fee and place bank guarantees by March 21.

True bid Bt76.3 billion for its licence.

Takorn Tantasith, secretary-general of the National Broadcasting and Telecommu-nications Com-mission, said he still believed that Jasmine would come through with the first instalment as the firm could face negative consequences from failing to fulfil such a condition.

Recently Noppadol Dej-udom, chief financial officer of True, said that company was ready to meet the payment and bank-guarantee conditions, pending a signal from the boss.