NewSat gets set for 2015 Jabiru-1 launch

Company News

Australia's largest pure-play satellite communications company NewSat Limited (ASX:NWT) is one step closer to launching its Jabiru-1 satellite after receiving confirmation from the Malaysian satellite regulator. 
 
Under the deal MEASAT Satellite Systems Sdn Bhd agreed to purchase $US197 million of Jabiru-1 satellite capacity payable over the 15 year life of the satellite and NewSat had agreed to locate the satellite in an orbital slot. 
 
Use of this orbital slot for the satellite owned by NewSat required the confirmation of the Malaysian Communications and Multimedia Commission, which has now been delivered.  
 
NewSat says this confirmation finalises the export credit process and the company will now take the next steps to prepare for completing the construction of its Jabiru-1 satellite for launch in 2015.
 
NewSat describes Jabiru-1 as a large next generation satellite which will provide superior coverage over South East Asia, the Middle East and North Africa. 
 
NewSat reported a net profit of almost $10.5 million in the 2013 financial year. 

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