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Tag: JU Wei Min

  • AsiaSat: 3S rev blunts numbers for fiscal 2016

    BENGALURU: Asia Satellite Telecommunications Holdings Limited (AsiaSat) revenue of HK$ 1,272.39 million for the year ended 31 December 2016 (FY-16), down 2.9 per cent compared to HK$ 1,310.99 million for 2015 primarily due to reduced short-term revenue from AsiaSat 3S says the company. If excluding the short-term non-recurring AsiaSat 3S revenue, revenue grew by about three per cent it adds in an earnings release.

    The company’s operating profit at HK$ 511.33 declined 16 per cent in FY-16 as compared to HK$ 608.69 million reported for the previous year. Profit before tax declined 14.1 per cent for FY-16 to HK$ 456.98 million from HK$ 532 million in FY-15. However, FY-16 profit attributable to owners was maintained at HK$ 430 million (2015: HK$ 440 million), as a result of lower income tax charges following the reversal of a provision made in previous years. The AsiaSat board has proposed dividend of HK$0.20 per share for the year.

    The satellite communications company says that combined new and renewed contracts during the year were valued at HK$ 1,870 million (2015: HK $1,310 million). As at 31 December 2016, the value of contracts on hand increased by 16 per cent to HK$ 4,067 million (2015: HK$ 3,517 million).

    On the operational front, the company says that utilisation of AsiaSat 4, AsiaSat 5, AsiaSat 6 and AsiaSat 7 as of 31 December 2016 stood at 67 per cent (99 transponders utilised), with AsiaSat 8’s entire Ku-band payload fully leased at 4 degrees West and AsiaSat 3S operating in inclined orbit to provide service in Asia.

    AsiaSat 9, a replacement for AsiaSat 4 and planned for launch in late 2017, will offer additional capacity serving new markets for Direct-to-Home (DTH), regional video distribution, private networks and broadband services

    The company claims that it continued to lead the industry in advanced technology through advocating Ultra HD (UHD) broadcasting in Asia with its free-to-air UHD channel ‘4K-SAT’ on AsiaSat 4, and evaluating opportunities to develop its High Throughput Satellite (HTS) Ka-band capabilities.

    Company speak

    AsiaSat’s Chairman, JU Wei Min, said, “In the coming year, the Board of Directors is cautiously optimistic on the economic prospects for the region, which, despite relatively flat indicators for some markets continues to invest in new telecommunications and media infrastructure, as well as renewing and updating existing facilities. New DTH platforms focused on smaller emerging markets remain attractive, especially given the need for relevant local-language services.”

    “In order to address the ever-increasing, long-term demand for new data transmission capacity AsiaSat will continue to evaluate opportunities to develop its HTS Ka-band capabilities, carefully monitoring and benefiting from the technical and commercial progress of deployments of IoT, UHD and other consumer driven services,” JU added.

  • AsiaSat sees positive outlook in India’s 7.3% growth forecast

    MUMBAI: Asia Satellite Telecommunications Holdings Limited yesterday announced its 2016 annual results for the year ended 31 December 2016.

    AsiaSat 9, a replacement for AsiaSat 4 and planned for launch in late 2017, will offer additional capacity serving new markets for Direct-to-Home (DTH), regional video distribution, private networks and broadband services.

    AsiaSat 9 is expected to launch in late 2017. “We believe this satellite, which carries 28 C-band and 32 Ku-band transponders, along with a Ka-band payload is ideally positioned to exploit the growth in both HD and Ultra HD (UHD) video content and advanced broadband networks. AsiaSat 9 will be a replacement for AsiaSat 4 at 122 degrees East with additional capacity delivering enhanced power and greater coverage for Direct-to-Home (DTH), regional video distribution, private networks and broadband services within our footprint running from New Zealand to the Middle East,” AsiaSat stated in its annual results statement.

    “With regional economic prospects as estimated by the [International Monetary Fund], World Bank and [Economist Intelligence Unit] that range from 6.8% [gross domestic product] growth for China in 2017, 7.3% for India and forecasts that hover around 6% for the majority of South and Southeast Asia (with Myanmar outstanding at 8.5%), as an innovative service provider AsiaSat has a positive commercial outlook despite the short-term negatives such as the current capacity over-supply.”

    Financial Highlights:

    2016 revenue of HK$1,272 million, down 3% compared to 2015 primarily due to reduced short-term revenue from AsiaSat 3S. If excluding the short-term non-recurring AsiaSat 3S revenue, revenue grew by about 3% 2016 profit attributable to owners maintained at HK$430 million (2015: HK$440 million), as a result of lower income tax charges following the reversal of a provision made in previous years Combined new and renewed contracts during the year valued at HK$1,870 million (2015: HK$1,310 million). As at 31 December 2016, the value of contracts on hand increased by 16% to HK$4,067 million (2015: HK$3,517 million). Proposed final dividend of HK$0.20 per share

    Operational Highlights:
    Utilisation of AsiaSat 4, AsiaSat 5, AsiaSat 6 and AsiaSat 7 as of 31 December 2016 stood at 67% (99 transponders utilised), with AsiaSat 8’s entire Ku-band payload fully leased at 4 degrees West and AsiaSat 3S operating in inclined orbit to provide service in Asia.

    The acquisition of new customer Shanghai Interactive Television (SiTV) on AsiaSat 6 marked AsiaSat’s re-entry into the China video market through establishing a high value platform to support the development of High Definition (HD) broadcasting in China.

    Continued to lead the industry in advanced technology through advocating Ultra HD (UHD) broadcasting in Asia with its free-to-air UHD channel ‘4K-SAT’ on AsiaSat 4, and evaluating opportunities to develop its High Throughput Satellite (HTS) Ka-band capabilities.

    AsiaSat’s Chairman, JU Wei Min, said, “In the coming year, the Board of Directors is cautiously optimistic on the economic prospects for the region, which, despite relatively flat indicators for some markets continues to invest in new telecommunications and media infrastructure, as well as renewing and updating existing facilities. New DTH platforms focused on smaller emerging markets remain attractive, especially given the need for relevant local-language services.”

    “In order to address the ever-increasing, long-term demand for new data transmission capacity AsiaSat will continue to evaluate opportunities to develop its HTS Ka-band capabilities, carefully monitoring and benefiting from the technical and commercial progress of deployments of IoT, UHD and other consumer driven services,” JU added.

    JU Wei Min stated: “In 2016, AsiaSat laid the groundwork for the prospect of improved revenues in 2017 as we move into a period of more efficient use of satellite bandwidth and increasing demand for media and data services across Asia. Although disappointing, this year’s outcome should be viewed against a backdrop of globally unstable market conditions and the impact of disruptive new technologies.”

    “The market instability resulted from a global oversupply of satellite capacity of all kinds and generally uncertain economic conditions. We recognise the need to continue to manage closely the pricing pressures on data services as well as compression improvements for video distribution which to some extent neutralise the benefits of the increased demand generated by mobility applications and video format upgrades.”

  • Andrew Jordan announced successor of AsiaSat’s William Wade

    Andrew Jordan announced successor of AsiaSat’s William Wade

    MUMBAI: Asia Satellite Telecommunications has announced the retirement of its executive director, president and CEO William Wade. He will serve his last day in the company on 1 November 2016 but will stay back as the senior advisor of AsiaSat until 31 March 2017.

    Andrew Jordan will be appointed by the board to succeed Wade with effect from 1 November 2016. Jordan 56 has over 25 years of experience in the satellite industry. He was the general manager in the marketing department of AsiaSat from 1991 to 1993.

    “On behalf of the Board of Directors, I would like to express my sincere gratitude to Wade for his years of dedicated and exceptional service. AsiaSat’s solid reputation in the industry and its strong commitment to quality and reliability are a credit to his leadership. We look forward to his contributions as the senior advisor to assist in the leadership transition,” said AsiaSat chairman JU Wei Min.

    He further added, “I would like to welcome back Jordan, who is an industry veteran with extensive experience, knowledge and contacts across the satellite communications, broadcast and telecom industries. We are confident that he has the strategic vision and experience to drive AsiaSat’s next phase of growth.”

    Jordan has held executive positions with several satellite operators, and has led complex deal negotiations in China, Hong Kong SAR, Australia, Italy and the United Kingdom. He obtained a bachelor’s degree from London University’s School of Oriental and African Studies.

  • Andrew Jordan announced successor of AsiaSat’s William Wade

    Andrew Jordan announced successor of AsiaSat’s William Wade

    MUMBAI: Asia Satellite Telecommunications has announced the retirement of its executive director, president and CEO William Wade. He will serve his last day in the company on 1 November 2016 but will stay back as the senior advisor of AsiaSat until 31 March 2017.

    Andrew Jordan will be appointed by the board to succeed Wade with effect from 1 November 2016. Jordan 56 has over 25 years of experience in the satellite industry. He was the general manager in the marketing department of AsiaSat from 1991 to 1993.

    “On behalf of the Board of Directors, I would like to express my sincere gratitude to Wade for his years of dedicated and exceptional service. AsiaSat’s solid reputation in the industry and its strong commitment to quality and reliability are a credit to his leadership. We look forward to his contributions as the senior advisor to assist in the leadership transition,” said AsiaSat chairman JU Wei Min.

    He further added, “I would like to welcome back Jordan, who is an industry veteran with extensive experience, knowledge and contacts across the satellite communications, broadcast and telecom industries. We are confident that he has the strategic vision and experience to drive AsiaSat’s next phase of growth.”

    Jordan has held executive positions with several satellite operators, and has led complex deal negotiations in China, Hong Kong SAR, Australia, Italy and the United Kingdom. He obtained a bachelor’s degree from London University’s School of Oriental and African Studies.