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SATTEL

Sattel profit up on Shenington sale

Shin Satellite Plc (SATTEL)'s third quarter consolidated net profit totalled Bt3.143 billion, on top of Bt6.88 billion revneue which rose 280 per cent year on year due to the sale of Shenington shares.



 In the quarter, it gained Bt5.127 billion on the sale of 49 per cent shares in Shenington, the company said in a statement.

 In this quarter, revenue from transponder leasing on Thaicom 4 (IPSTAR) was also higher on the quarter on quarter or annualised basis. As the Company sold 6,850 IPSTAR User Terminals, the accumulative number of User Terminals sold at the end of the third quarter is 93,153 units.

 In September 2007, it also signed a Cooperation Agreement with TIME dotcom Berhad ("TIME"), a Malaysia's leading Telecommunications solutions provider, to deploy IPSTAR broadband satellite services in Malaysia within the fourth quarter.  Moreover, the company has forged an alliance with TNR Telecoms Incorporation to operate the IPSTAR gateway and to provide IPSTAR services in the Philippines.

 The continued growth of telephone subscribers in both Cambodia and Lao led to an increase in revenues generated from CamShin and LTC. At the end of September, CamShin and LTC had the total of 1,177,036 subscribers. 

 In this quarter, the stronger baht also resulted in the foreign exchange gain of Bt287 million, an increase of 99 per cent over Bt144 million in the same period last year.

- The Nation


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