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Friday, 03 February 2012 17:58

NewSat contracts rocket to $526m with latest win

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Australian-listed satellite company, NewSat (ASX:NWT) has signed a new strategic satellite capacity contract with Asia's Malaysian-based MEASAT Satellite Systems, which boosts the total value of all contracts NewSat has secured for its next-generation Jabiru-1 satellite to US$526 million.


The new, core agreement for capacity on NewSat's still to be launched Jabiru-1 satellite is for a minimum of US$180 million, and provides MEASAT with multiple transponders covering South Asia and South East Asia for the 15 year life of the satellite.

Commenting on the multi-million dollar contract with MEASAT, NewSat Founder and CEO, Adrian Ballintine, said the agreement would be finalised over the next two weeks with the completion of the Jabiru-1 technical specifications and the execution of a lease agreement with MEASAT to secure capacity for the Jabiru-2 satellite.

Ballantine said MEASAT is the leading Asian satellite operator, with capacity across five communication satellites, and over 15 years of experience providing satellite communication services to the region's international broadcasters, DTH platforms and telecom operators.

'NewSat is delighted to welcome MEASAT on board the Jabiru-1 satellite.  The decision by MEASAT to take capacity on Jabiru-1 is strategically important to NewSat because of MEASAT's status as a successful player in the satellite industry in our region. We are very pleased to be working with MEASAT in bringing this strategic capability to Asia to assist their customers with expansion and protection of their existing services.'

According to Ballantine, the US$180 million contract is an important step forward in the launch of the company's Jabiru-1 next generation satellite and follows a number of recently signed large contracts for capacity on the satellite. 'NewSat has now assembled cornerstone contracts totalling US$526 million to underpin the export credit agency backed debt financing, to build and launch the satellite, further reinforcing NewSat's vision of becoming a satellite operator.'

 


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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