The past year was marked by some exciting developments in the areas of new business and services. In June, AsiaSats new Direct-to-Home (DTH) project, DishHD, officially launched its services in Taiwan. This project is a joint venture between AsiaSat and EchoStar Corporation and offers HD DTH satellite television services to Taiwan and other targeted regional markets. Delivered in MPEG-4 format via AsiaSat 4s Ku-band Broadcast Satellite Service (BSS) beam, DishHD provides its customers with a choice of 39 enhanced and high definition (HD) channels, delivering content that encompasses all genres, from sports, movies, entertainment and documentaries, to lifestyle, fashion and food.
Also in June, a new client Vietnam Multimedia Corporation (VTC) began delivering a new premium DTH platform via AsiaSat 5, the Companys newest satellite. Using four transponders on the new Ku-band Indochina spot beam, VTC provides up to 30 HD and 70 SD channels in various subscription packages to address the diverse needs and interests of television viewers in Vietnam.
A strategic replacement program assures service continuity to AsiaSat 3S customers. Additionally, AsiaSat 7 was originally ordered as AsiaSat 5C, a backup satellite for AsiaSat 5. However, following the successful launch of AsiaSat 5, this backup satellite was reconfigured as AsiaSat 7, which will be a replacement satellite for AsiaSat 3S at the orbital location of 105.5 degrees East. Construction of this new satellite is progressing on schedule. In early October, we entered into a contract with International Launch Services (ILS) to launch AsiaSat 7 on an ILS Proton rocket in late 2011.
In the area of occasional use service, 2010 has been one of the busiest and most exciting for AsiaSat. AsiaSat satellites ubiquitous access to all leading Asian terrestrial networks and pay platforms makes it the most popular choice for video service providers and broadcasters for occasional use transmission of live international sports events. Events delivered via AsiaSat during the year included the Vancouver 2010 Winter Olympics, the Indian Premier League, the FIFA World Cup, the New Delhi 2010 Commonwealth Games and the Guangzhou Asian Games.
During the year, AsiaSats wholly-owned subsidiary, SpeedCast, also achieved positive growth with an encouraging increase in turnover and net profit during the first half of 2010. This was accomplished by actively growing their business and investing in new areas, such as the maritime broadband and VSAT services.
As the market leader in the Asia-Pacific region, AsiaSat serves over 100 broadcasters, news agencies, video service companies, telecommunications and broadband service providers as well as governments and commercial enterprises through its powerful fleet of three in-orbit satellites and world-class ground infrastructure in Hong Kong.