WASHINGTON — Thai satellite tv for pc operator Thaicom logged a second 12 months of declining income, however trimmed losses by promoting its stake in an area telecom supplier.
Thaicom, which operates 5 satellites overlaying the Asia-Pacific, reported 6 billion baht ($190.6 million) in income for 2018, a lower of 10.2 p.c from the 12 months prior.
Regardless of the decline, Thaicom swung again to profitability after promoting its 42 p.c stake in CS Loxinfo Public Firm Ltd, a home supplier of web, knowledge heart, and satellite tv for pc companies.
Thaicom mentioned the 1.95-billion-baht sale boosted earnings to 230 million baht for 2018. A weak tv broadcast market drove Thaicom to a 2.65 billion baht loss in 2017, the company said last year.
Thaicom mentioned “fierce competitors” continues to make the satellite tv for pc communications market troublesome.
Greater than a dozen satellite tv for pc operators compete for enterprise within the Asia-Pacific whereas new entrants proceed to seem, together with Bangladesh with the Bangabandhu-1 satellite that launched last year, Singapore-based Kacific, whose Kacific-1 condosat launches this year, and home startup mu House, which plans to launch a so-far-unordered satellite in 2021.
Worth erosion from this aggressive panorama drove income from Thaicom’s 4 standard satellites down four.three p.c to three.57 billion baht regardless of “constant utilization,” Thaicom mentioned.
Income from Thaicom’s ageing high-throughput satellite tv for pc IPstar noticed a steeper 16.9 p.c decline to 2.28 billion baht that the corporate attributed mainly to the “churn of main clients throughout 2017.” Thaicom is contemplating extending the life of IPstar, which was extensively thought-about to be the first-ever high-throughput satellite tv for pc when it launched in 2005.
Thaicom CEO Anant Kaewruamvongs mentioned the corporate will “make the most of subsequent technology satellite tv for pc expertise and search worldwide partnerships together with joint funding” to scale back funding dangers and dependence on Thailand’s “concession scheme,” which requires the corporate to provide a part of its revenues to the nation’s Ministry of Info and Communication Know-how.
Kaewruamvongs mentioned Thaicom may also discover offering extra satellite tv for pc consultancy companies, system integration work and exercise exterior the satellite tv for pc sector.
“Transferring ahead we’ll enterprise into new enterprise areas with a deal with digital and future applied sciences to diversify the Firm’s portfolio and reliance on the satellite tv for pc enterprise,” he mentioned in a press release.