Thailand's Ministry of Digital Economy (DE) is suing GULF-THCOM for alleged breach of a 30-year satellite concession contract that expired in September 2021, claiming 1.259 billion baht in damages (11.05% of THCOM's market cap). KBank Securities flags three key concerns: asset transfer disputes, management agreements between THCOM and National Telecom (NT) for TC4/TC6 frequencies, and long-term viability of THCOM's B2G satellite solutions business. The legal outcome remains uncertain, but broker expects negative stock price impact.