The ministry has asked the Office of the Attorney-General to consider whether Thaicom's new option is permissible. The previous option was the Company's plan to lease a transponder service of a foreign satellite in order to provide a broadcasting service after the lifespans of Thaicom 1 and 2 satellite come to a close. As is the normal process for most any nation's bureaucratic ministries, approval of Thaicom's options has not yet been approved. Thaicom currently owns the Thaicom 1, 2, 5 and iPSTAR sats. Additionally, Thaicom 1 customers have all now been migrated over to Thaicom 5.
Satnews Daily
October 5th, 2009
Thaicom's SatOptions Might Include ProtoStar 1
Thaicom has recently proposed a procurement option to the Thailand's Information and Communications Technology Ministry — the name of the satellite being targeted has not yet been revealed.
The ministry has asked the Office of the Attorney-General to consider whether Thaicom's new option is permissible. The previous option was the Company's plan to lease a transponder service of a foreign satellite in order to provide a broadcasting service after the lifespans of Thaicom 1 and 2 satellite come to a close. As is the normal process for most any nation's bureaucratic ministries, approval of Thaicom's options has not yet been approved. Thaicom currently owns the Thaicom 1, 2, 5 and iPSTAR sats. Additionally, Thaicom 1 customers have all now been migrated over to Thaicom 5.
The ProtoStar I satellite is believed to be the subject of Thaicom's interest. However, the ProtoStar Bermuda-based firm has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code and has secured financing from lender groups to allow for operations financing and business maintenance and will market its satellites to interested parties under the auspices of UBS Securities, the Company's financial and capital markets adviser.
The ministry has asked the Office of the Attorney-General to consider whether Thaicom's new option is permissible. The previous option was the Company's plan to lease a transponder service of a foreign satellite in order to provide a broadcasting service after the lifespans of Thaicom 1 and 2 satellite come to a close. As is the normal process for most any nation's bureaucratic ministries, approval of Thaicom's options has not yet been approved. Thaicom currently owns the Thaicom 1, 2, 5 and iPSTAR sats. Additionally, Thaicom 1 customers have all now been migrated over to Thaicom 5.