Hong Kong – AsiaSat has released its interim results for the six-months ended 30 June 2009. AsiaSat chairman, Sherwood P. Dodge, said, “While our first half year performance was slightly higher than that of last year, we expect our overall 2009 performance to be similar to that of 2008. While we have experienced a slight increase in renewals and new customers in the first half year, we are also seeing many of our major customers slowing their expansion plans as the global economic downturn’s effect on advertising emerges in our industry.” Results report that the first six months of 2009 saw a number of new contracts secured to the total value of HK$164 million (2008: HK$319 million) and renewed contracts valued at HK$250 million (2008: HK$355 million). Together, these amounted to HK$414 million (2008: HK$674 million), primarily coming from the renewal of a number of existing major contracts. The highlight of the second half year will be bringing August-launched AsiaSat 5 into service. The Board resolved to proceed with construction of AsiaSat 5C, which is being built by Space Systems/Loral on an SS/L 1300 series satellite platform with performance similar to that of AsiaSat 5. The profit attributable to equity holders during the period was HK$253 million (2008: HK$224 million), an increase of 13%. The total number of transponders on the Company’s satellites leased and sold as at 30 June 2009 was 80, with an overall utilisation rate of 64% – up 4% from 2008. Wholly-owned subsidiary SpeedCast Holdings Limited saw turnover of HK$71 million for the first six months of 2009, (2008: HK$55 million), an increase of 29%. The company recorded a net profit of HK$5 million (2008: HK$2 million loss). In June, AsiaSat formed a joint venture with EchoStar Corporation, for the delivery of a Direct-to-Home (DTH) satellite television service to Taiwan and other targeted regions in Asia, starting from the second half of 2009.