We refer to the article in the Financial Daily dated 22 June 2009 captioned “MEASAT sees US$100m annual revenue next 3-4 years”, and in particular to the following two statements:
1. “MEASAT Satellite Systems Sdn Bhd is targeting to reap a higher revenue of US$100 million (RM353 million) annually in the next three to four years from US$60 million last year from new businesses arising from the launch of its two latest MEASAT-3 and MEASAT-3a satellites.” (“First Statement”)
2. “ the company also has in hand revenue of US$600 million which would be raked in from contracts ranging from three, five and 15 years.” (“Second Statement”)
In respect of the First Statement, the Company wishes to clarify that MEASAT Satellite Systems Sdn Bhd ("MEASAT") is targeting to progressively increase its annual revenue to US$100 million in 3 to 4 years (assuming all M-3a transponders are in commercial operation) and is not targeting revenue of US$100 million annually in the next three to four years as reported in the article.
The Company confirms the Second Statement but wishes to add that included in the US$600 million figure is the value of transponder capacity on M-3a of US$189.2 million contracted by MEASAT with MEASAT Broadcast Network Systems Sdn Bhd (“MBNS”), wholly-owned subsidiary of ASTRO ALL ASIA NETWORKS, plc (“ASTRO”) (a party related to a major shareholder of the Company) for a period of 15 years, which transaction was the subject of a Press Release jointly by MEASAT and ASTRO and announced by the Company to Bursa on 27 May 2009 and supplemented by a further announcement on 29 May 2009.
The remaining amount of US$410.8 million pertains to the value of transponder capacity contracted by MEASAT over 1, 3, 5 and 15 years with various customers in the ordinary course of business including with MBNS in respect of M-3 which was also the subject matter of a Press Release by MEASAT and announced by the Company on 4 January 2007. The value of the transponder capacity contracted by MEASAT with MBNS in respect of M-3 was US$380 million.
This Announcement is dated 23 June 2009.
