- Thailand’s 5G pioneer projects to kick off with EEC’s digital hub, ….
- … Ban Chang Smart City and six other Smart City projects
- Scope for a long-term mobile ARPU uplift to mobile operators
We expect that the government’s 5G pioneer projects, including EEC’s ASEAN digital hub, Ban Chang Smart City and six other Smart City projects, will lay the foundation for industrial 5G and bigger data usage, which is regarded as a boon to the future 5G ARPU and revenue for mobile operators. In the ICT space, our preferred picks are ADVANC and INTUCH (BUY) and THCOM (TRADING BUY). We also put TRADING BUY calls on TRUE and DTAC.
Thailand’s 5G pioneer projects to kick off with EEC’s digital hub, ….
We expect Thailand’s high-tech Eastern Economic Corridor (EEC), which is aimed at becoming the gateway to Southeast Asia and an ASEAN digital innovation hub, to be covered by at least 50% 5G network in 1H21, and Thailand’s Smart Cities to be covered by at least 50% 5G network in 2024. This is in tandem with NBTC’s 2.6GHz auction condition that requires the 2.6GHz network coverage of 50% within the first year in the EEC areas and 50% by the fourth year in the Smart City following the 2.6GHz auction on Feb 16, 2020. Note that ADVANC and TRUE won a total of 100MHz and 90MHz of 2.6GHz spectrum, respectively. In the long-term, the 5G network coverage will be mandatory in every industrial segment.
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