LISTED Transpacific Broadband Group Int’l., Inc. (TBGI) announced on Thursday that it had signed a three-year managed service agreement with international satellite operator ABS Global Ltd.
Under the agreement, which is extendable for another three years, TBGI will “provide collocation facilities and first level support for the development and maintenance of Low-Earth Orbit Satellite (LEOSAT) earth station in Clark, Pampanga for Starlink Holdings N.B.V.,” the listed company said in a disclosure to the stock exchange.
Starlink is a division within SpaceX, which is an American aerospace company.
“Although the managed service agreement executed by TBGI and ABS Global are specifically for LEOSAT earth stations of Starlink, the forward-looking statements are subject to known and unknown risk and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements,” TBGI also said.
Known uncertainties include change in political climate, regulatory risk, foreign exchange risk, and project completion risk.
“We are excited in the unlimited prospects of empowering government units, businesses and millions of Filipino households with advanced satellite internet services to meet their growing requirements for fast and reliable connectivity,” TBGI said.
LEOSAT technology, the company said, offers a combination of affordability, speed, flexibility, ease-of-setup and a 27-millisecond low-latency bandwidth to deliver a “superior” online experience in the “next level” Internet of things.
The company’s first-half net income after tax leaped 466.7% to P6.8 million from P1.2 million in the same period in 2020.
Total revenues for the first half went up 50.8% to P29.1 million from P19.3 million last year.
Expenses for the period increased 25.1% to P21.9 million from P17.5 million previously. — Arjay L. Balinbin