Singtel profits dip • Argentine, Turkish companies form small GEO builder • KVH sells Videotel business for $90 million15 May 2019, 17:45 UTC
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Singtel reported its lowest profit in 16 years, citing increasing competitive pressure in India and Indonesia. The company’s net profit was 773 million Singaporean dollars ($565 million) for the quarter ended March 31, roughly flat compared to the same three months last year. Singtel, Southeast Asia’s largest telecom operator, owns the Australia-focused Optus Satellite and has two teleports in Singapore. Singtel Group CEO Chua Sock Koong said the company will accelerate its digitalization efforts to improve productivity, customer experience, and lower its cost structure. [CNBC]
Argentine satellite manufacturer INVAP and Turkish Aerospace have formed a joint company called GSATCOM Space Technologies. The venture will create a new line of small, all-electric geostationary communication satellites, with the goal of increasing the companies’ presence in the international market. INVAP built Argentina’s ARSAT-1 and ARSAT-2 telecom satellites with assistance from European manufacturers. Turkish Aerospace is involved in the development of Turkey’s first domestically produced satellite, Turksat-6A, in handling assembly, integration and test activities. [INVAP]
KVH is selling its maritime personnel training business Videotel for $90 million. The divestiture allows KVH to focus on its ...