ITV

Tag: telecommunications networks

  • VeriSign elects Star’s Guthrie to board of directors

    VeriSign elects Star’s Guthrie to board of directors

    MUMBAI: VeriSign, Inc., a provider of intelligent infrastructure services for the internet and telecommunications networks, has appointed Star Group CEO Michelle Guthrie to its board of directors.

    With over a decade of experience in the pay television industry, Guthrie brings to VeriSign her wide-ranging knowledge of media, technology, law and business development.

    VeriSign CEO and chairman Stratton Sclavos said, “Consumer demand for real-time information and entertainment over mobile and broadband networks is increasing exponentially on a global basis. Michelle’s track record in building successful content and distribution relationships in both Europe and Asia will be an invaluable asset in VeriSign’s long range strategy to build and operate the world’s premier digital content utility.”

    “As personalisation and consumption of communications increase the demand for intelligent infrastructure services, VeriSign’s role is enhanced. VeriSign sits in such a unique position in so many markets fundamental to digital communications, content and commerce. I look forward to adding my voice to the VeriSign Board and continuing the corporation’s exciting journey,” said Guthrie.

    Guthrie joined Star in June 2000. She was appointed senior vice president, business development in January 2001 and was promoted to executive vice president for regional distribution and business development in June 2003, in charge of the operations of markets across the South East Asian region, as well as identifying growth opportunities and cementing new partnerships for the company. Guthrie was appointed CEO of Star in November 2003.

    She has 10 years of experience in the pay television industry, notably at FoxTel in Australia and BSkyB in the UK. Before joining News Corporation in 1994, Guthrie was a lawyer at Allen, Allen & Hemsley in Sydney and Singapore, where she focused on the media and technology sector. In addition, she is a member of the board of directors of joint venture companies Phoenix Satellite Television and China Network Systems.

  • Asiasat reports 24 per cent decline in profits

    Asiasat reports 24 per cent decline in profits

    MUMBAI: Satellite operator Asiasat has announces its 2003 annual results. Profit amounted to HK$424 million. In 2002 the figure was HK$555 million. This represents a significant reduction of 24 per cent from the previous year.
     

    Turnover for the year was HK$896 million. In 2002 the figure stood at HK$951 million representing a decline of six per cent. The company atrbuted the performance to slow growth in new demand, business contraction of some customers, and continuing price pressure on new leases and renewals.

    The company added that the restrictions on travel resulting from the continued existence of Sars affected its ability to market and serve new and existing customers throughout the Asian region. At the peak of Sars almost all marketing activities came to a halt..The regional transponder market remained sluggish, lagging behind the early signs of economic improvement in some Asian markets.

    While the results were disappointing the company maintained that they were in line with its earlier indications. The above mentioned decline in profit was attributable mainly to the anticipated increase in depreciation on the new AsiaSat 4 and increased in-orbit insurance costs. All this went hand in hand with the decrease in turnover and an additional provision of deferred tax for both current and prior years. This arose as a result of the increase in the Hong Kong tax rate from 16 per cent to 17.5 per cent on 1 April 2003.

    Asiasat admitted that its strategy to achieve organic growth, and growth through acquisition and partnership was held back by the poor economic climate and the failure of identified targets to meet the investment criteria. On a more positive note the company continued to benefit from strong cash flow from its operations. It generated a net cash inflow of HK$253 million (2002: HK$270 million) after paying capital expenditure of HK$162 million (2002: HK$440 million) and dividends of HK$203 million (2002: HK$78 million). At the end of 2003, the Group had a cash balance of HK$659 million (2002: HK$406 million).

    The launch and commissioning of Asiasat 4 is incurring additional costs for the group at a time when markets have remained soft. The short-term impact is negative. However for the longer term, the addition of Asiasat 4, which has a life expectancy of over 15 years places the group as a strong provider in the market with the significant growth potential states a company release.

    Looking to this year the company has reiterated the fact that its business was long-term in nature, and that the positive factors that drive demand remain in place. They are television distribution and increasingly in more developed markets, High Definition Television, and telecommunications networks that need connectivity over wide geographic coverage, at a fixed cost. This was where satellites succeed and terrestrial services cannot compete particularly in large and physically scattered regions like the Asia Pacific. On the flip side the company does not see material signs of improvement among regional operators, nor new entrants to the market that would enable the group to deliver stronger results this year as compared with last year.