Bangkok--15 May--Shin Satellite Public Company
Shin Satellite Public Company Limited (“SATTEL”) today reported an increase of the Company’s sales and services income from Thaicom satellites and IPSTAR. In the first quarter of this year, the Company sold 9,131 IPSTAR User Terminals. Revenue from telephone and internet businesses also increased. The Company’s total revenue was Baht 2,110 million, an increase of 7.1% compared to the same period last year.
Shin Broadband Internet (Thailand) Co., Ltd. (“SBI”), a subsidiary of Shin Satellite achieved revenue from sales of the new low cost Ku-band satellite dish and set-top-box, called Digital Television or DTV. SBI sold DTV products through its dealers and many general electric equipment stores.
In the first quarter of 2007, revenues from telephone business services in Cambodia (Cambodia Shinawatra Co., Ltd., CamShin) and Laos (Lao Telecommunications Co., Ltd., LTC) increased by 10.8% over the same period of last year, largely due to the continued growth of the prepaid mobile subscribers. At the end of Q1/2007, CamShin and LTC had the total of 1,006,139 subscribers, an increase of 28.9 % over the same period last year.
Shin Satellite’s consolidated financial statement reported a net profit of Baht 135 million, an increase of 332.8% compared to the same period in the previous year whereas the Company experienced a net loss of Baht 58 million. The Company recorded a gain from the exchange rate of Baht 461 million resulted from the continuation of Baht appreciation. However, the separate financial statement reported the net loss of Baht 41 million. The adoption of the new accounting policy caused the net income on the separate financial statement differ from that reported in the consolidated financial statement.
The Company has changed the accounting policy for the investments in its subsidiaries and associates from the equity method to the cost method following the Notification of the Federation of Accounting Professions (FAP) no. 26/2006 TAS 44 (revised-2007).
For further information, please contact:
Ms. Piyanuch Sujpluem
Corporate Communications
Shin Satellite Public Company Limited
41/103 Rattanathibet Road,
Nonthaburi, 11000, Thailand
Phone: (+662) 591-0736 to 49 Ext. 8494
Fax: (+662) 591 0705
E-mail: [email protected]