NCL International Logistics Public Company Limited

NCL International Logistics, or NCL, disclosed that the Supreme Court has issued an order refusing to allow the plaintiff's appeal, bringing a lawsuit worth 23.07 million baht to an end, with the company, as the third defendant, bearing no liability under the claim. Admiral Atthaphon Phetchai, Chief Executive Officer, reported this progress to the Stock Exchange of Thailand. In this case, the Court of First Instance had ruled on 5 September 2023 that NCL deliver the original bill of lading and pay principal plus interest of 23.07 million baht, before the Court of Appeal reversed the ruling and dismissed the case on 19 November 2024, and the Supreme Court ultimately dismissed the petition and refused to accept the plaintiff's appeal. The company had previously set aside a provision of 23.07 million baht for this case and is assessing the accounting impact and the approach to reversing the entry under financial reporting standards. In addition, NCL has also cleared another dispute worth 25.08 million baht, in which the Supreme Court likewise issued an order refusing to allow the plaintiff's appeal. Combined, the two cases will see the company record an accounting reversal of approximately 48 million baht by the end of this year, which is expected to turn its overall second-half performance positive.

NCL International Logistics, or NCL, disclosed that the Supreme Court has issued an order denying the plaintiff's appeal, bringing a 25.08 million baht case to a close and leaving NCL, as the third defendant, with no liability under the claim. Chief Executive Officer Pongthep Wichaikul said the case began with a lower court ruling on September 27, 2023, ordering NCL to jointly deliver the original bills of lading and pay 25.08 million baht plus interest, before the Court of Appeal reversed the decision and dismissed the case against NCL on November 28, 2024. Most recently, on September 8, 2026, the Supreme Court ordered the petition dismissed and declined to accept the plaintiff's appeal, on the grounds that the appeal did not raise a significant issue warranting the Supreme Court's consideration. NCL is currently assessing the accounting impact of the case's outcome, including the reversal of a related provision totaling 25.08 million baht that the company had set aside earlier. The positive accounting reversal is expected to be recognized in the third quarter of 2026 and to return its operating results to positive territory.