Eutelsat
 
Americas Asia-Pacific EMEA




SAT-GE











                                                                                                                                                             
 

THAICOM Reports Half Year Results

August 14, 2008,

THAICOM Public Company Limited reported the half year operating results ended June 30, 2008. Revenues from the Company’s sales and services was Baht 3,509 million, an increase of 2.8% compared to the same period of last year, due to the continued growth in the satellite and related business of THAICOM as well as the Internet and media businesses. Note that in the same period last year, the Company held 100% of Shenington Investments Pte compared to 51% in 2008. Revenues from IPSTAR services increased 52.3% year-on-year resulted from sales on the bandwidth and the IPSTAR User Terminals. In the first half of this year, the Company sold total of 42,743 IPSTAR User Terminals. As of the second quarter of 2008, THAICOM has delivered 146,810 IPSTAR User Terminals in total.

As of the first half of 2008, the Company’s telephone businesses in Cambodia (Cambodia Shinawatra Co., Ltd., “CamShin”) and and Lao (Lao Telecommunications Co., Ltd., “LTC”) through 51% equity in Shenington Investments Pte increased their subscribers to a total of 1,429,106 subscribers, or an increase of 35.9% over the same period of last year. Both countries continue to see growth in the number of mobile subscribers and their businesses.

Consequently, LTC announced to pay an interim dividend of USD10 million in July 2008.

Regarding the Internet access and media businesses, the Company’s revenues on these businesses were Baht 239 million, an increase of 195.1% compared to the same period of last year due to the continued growth on the sales of DTV, a low cost Ku-band satellite dish, which the Company launched in mid-2007, as well as the expansion on the sales and services of DTV to Cambodia and Lao during last quarter. The total number of DTV satellite dishes sold in the first six months of 2008 was 123,595 units, totaling 224,763 units since commencement of service.

THAICOM’s consolidated financial statement during the first six months period of 2008 reported a net operating profit of Baht 54 million with an interest expense of Baht 237 million and profit of Baht 54 million from foreign exchange resulting in a net loss Baht 1 million. The Company’s Debt-to-Equity Ratio decreased from 0.59, as of the end of 2007, to 0.55.

According to the Company’s investment from CS LOXINFO Plc. (“CSL”), CSL will pay an interim dividend, for the first five months period ended 31 May 2008, of Baht 0.23 per share, or an equivalent to Baht 57.5 million to the Company.