Mi Zeng Xin, the chairman of AsiaSat, stated it well, “The uplift in AsiaSat’s half-year performance was encouraging after a few years of sluggish trading in the Asian satellite sector amid a general economic strengthening across the region. Indeed, we have maintained our market leadership; remain debt-free and are committed to the future of satellite communication in the Asia-Pacific region. However, the recent launch of two new satellites in China poses a very real threat to AsiaSat’s business. As a result, the management of the Company will be adopting a cautious approach to the remainder of the year.”
Asia Satellite Telecommunications Holdings Limited (‘AsiaSat’ – SEHK: 1135HK; NYSE: SAT), the leading satellite operator in Asia, revealed 2007 interim results for the six months ended June 20th with sales at HK$461M, -3 percent, but when excluding One-Time Receipt, the result is HK$453M, or a +6 percent gain. Dividends per share remain unchanged at HK$0.08. The company has a stable utilization rate at 56 percent and the construction of AsiaSat 5 remains on schedule. The launch had to be rescheduled for 2009 due to a delay in launch vehicle availability—Hong Kong—August 23, 2007
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