AsiaSat Reports 1999 Figures Down, Recovery Underway

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AsiaSat Reports 1999 Figures Down, Recovery Underway

Asia Satellite Telecommunications Holdings Limited (AsiaSat) reported its 1999 results were down 11 percent, HK$807 M (US$105 M). The weak economic and financial conditions in the Asia-Pacific region in the early part of the year reduced demand for telecommunications and broadcasting services. However, in the second half of the year the broadcasting sector began to recover as operators, wanting to be first to market with new programs and services, reacted rapidly to early signs of an economic upturn and moved to book transponder capacity. The successful launch and in-orbit testing of AsiaSat 3S provided the company with additional transponder capacity in the 105.5°E orbital. The new satellite has a C-band footprint twice as large as that of AsiaSat 1, which it replaced in May. It also offers Ku-band capacity from this slot for the first time. AsiaSat 3S utilization rate as of December 31, 1999 was 49 percent. AsiaSat 1, is operating in an inclined orbit at 122°E, and will be retired following the successful launch of AsiaSat 4. AsiaSat 2 operates at 100.5°E, having a utilization rate as of December 31, 1999 of 74 percent (1998: 80 percent). AsiaSat's two major shareholders are China International Trust and Investment Corporation and Societe Europeenne des Satellites, SES, the operator of Europe's Astra satellite system.

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March 27, 2000

Andrews Space & Technology