On 19 January 2016, the Company has incorporated IPSTAR (India) Private Limited (IPI). The authorized share capital of IPI is INR 30 million, divided into 30 million ordinary shares of INR 1 par value. The capital is fully paid up. The Company holds 30 million shares, equivalent to 100% shareholding.
At the Annual General Meeting of Shareholders of the Company held on 30 March 2016, a resolution was passed to approve the issuance of 1,074,300 ordinary shares at the par value of Baht 5 per share, in total of Baht 5,371,500 to reserve for the exercise of the warrant. The Company registered the increased share capital with the Ministry of Commerce on 16 May 2016.
At the Annual General Meeting, the shareholders approved the appropriation of dividend of Baht 0.65 per share, amounting to Baht 712 million. The dividend was paid to shareholders on 26 April 2016.
On 4 April 2016, the Company has signed a long-term contract with Forever Group, Myanmar’s leading media company and DTH operator, for 5 additional transponders from the existing 3 transponders on the Company satellite platform. The contract is a major milestone in increasing the utilization rate for the Company's satellites and was in line with the Company's business plan which aims to provide the satellite capacity in order to serve the fast growing of Asian broadcast and media industries.
On 25 May 2016, the Board of Directors’ meeting of IPSTAR New Zealand Company Limited (IPNZ), had a resolution to approve the capital reduction from NZD 8.51 million to NZD 3.20 million. The return of capital payment of NZD 5.32 million was paid to its shareholders in June 2016.
On 28 May 2016 (Thailand time), the Company successfully launched THAICOM 8 Satellite into the orbit using the Falcon 9 rocket by Space Exploration Technologies Corporation (SpaceX) from Cape Canaveral, Florida, USA. THAICOM 8 Satellite is one of the Company’s strategies to create capacity and business expansion in order to serve customer’s demand in both Thailand and overseas markets with additional transponders, supporting the technological transition to High Definition (HD) and Ultra-High Definition (Ultra HD) broadcasting.
On 16 June 2016, the Company received an ISO 22301:2012 Certificate (Business Continuity Management System: BCMS) from the British Standard Institution (BSI). The certification recognized the Company’s effective management of the risk of potential business disruption through preventative measures and contingency plans demonstrating the Company’s ability to provide the continuous network connectivity needed to support economic growth as well as social and environmental sustainability.
On 27 June 2016, the Company was recognized as one of Thailand’s most outstanding companies in the 2016 rankings by FinanceAsia, a well-known finance and investment magazine in Asia, with 2 honors, which were the third rank for Best Mid-Cap and fourth rank for Best CSR. These reflected the Company’s leadership and professional expertise in the satellite industry.
On 27 July 2016, the Company accepted the prestigious “Investor’s Choice 2016” award. The Company is a listed company that received a full score for 4 consecutive years (2013 – 2016). This is the third time the Company has received the “Investor’s Choice” award, reflecting a spirit of commitment to its shareholders through excellent performance in its Annual General Meeting of Shareholders (AGM), transparent disclosures to shareholders, and the equitable treatment of shareholders.
On 4 August 2016, the Company has signed the contract for providing services on THAICOM 8 Satellite with IPM Company Limited, a leading DTH provider in Thailand. This has affirmed “Hot Bird” position at 78.5 Degrees east, currently co-located with the THAICOM 5, THAICOM 6, and THAICOM 8.
TRIS Rating has reaffirmed the Company and its senior unsecured debenture ratings for 2016 annual review at “A-” for 3 consecutive years. This reflects the Company established market position as the sole satellite communications service provider in Thailand and the market leader for broadband satellite service in the Asia-Pacific region. The ratings also take into consideration the Company’s cash flow stability and sound financial flexibility. The “Stable” outlook reflects the ability to compete in the market and to maintain the good operating performance continuously.
On 13 September 2016, the Company has partnered with Kantana Group Public company Limited to lead the trend in interactive applications, allowing television programs to engage their viewers in real time, with “Kantana Play” application. The application is designed to deliver a new and fun-filled experience to viewers though their smart devices which will go live in time for audiences to enjoy on The Face Thailand Season 3. This smart device application is a trend of broadcast industry’s future which viewers can access to additional program-related content and personally invest in programs through their smartphones, tablets, or other smart devices.
On 3 October 2016, the Board of Directors’ meeting of IPSTAR Company Limited (IPSTAR), had a resolution to approve the appropriation of dividends of USD 21 million.
On 11 October 2016, the Company has signed a contract with InfoSat-Laos, a leading Direct-to-Home (DTH) satellite TV operator in Laos, for the launch of its new DTH platform on THAICOM 8 satellite.
On 20 October 2016, International Satellite Company Limited (ISC), a Company’s subsidiary, has entered into a satellite procurement contract with China Great Wall Industry Corporation (CGWIC), the China’s leader in satellite construction and commercial launch services. The satellite project is valued at approximately USD 208 million, or Baht 7,280 million. The Company has been entrusted to conduct a new satellite project for a business partner who leases all satellite capacity with advanced service fees, which will serve as the source of funding for the construction of the satellite. The project is expected to contribute an incremental revenue for the Company and to strengthen broadband and mobility services in the Asia-Pacific region. The satellite is expected to be launched around end of 2019.
The Company was received a score in “Excellent” or “5 Star” corporate governance listed company for four consecutive years (2013-2016) by the Thai Institute of Directors (IOD), supported by the Securities and Exchange Commission (SEC) from the Corporate Governance Report of Thai Listed Companies 2016: CGR.
On 9 December 2016, the Company has incorporated TC Global Service Limited (TCGS). The authorised share capital of TCGS is USD 50,000, divided into 50,000 ordinary shares of USD 1 par value. The capital is fully paid up. The Company holds 50,000 shares, equivalent to 100% of shareholding.
At the Company’s Board of Directors’ meeting held on 14 December 2016, a resolution was passed to approve the liquidation of Spacecode LLC (SPACE), a subsidiary of the Company. SPACE has already returned its capital to shareholders, and the dissolution process is currently underway. The Company has restructured the operational process within the group by transferring any THAICOM 4 broadband business which was operated under SPACE to another subsidiary in order to reduce duplicated operational structure.