Asia Satellite expects to sign lease contracts with Telstra within the month

Peter Jackson, CEO of Asia Satellite Telecommunications Holdings (1135) forecasted the Satellite lease contract with Australian Telstra would be formally signed by the end of the month, but he declined to reveal the exact sum of the contract, only said it worth thousands of dollars.

Asia Satellite Telecommunications (1135) entered in a lease agreement with Telstra in the earlier time, which planed to sign contract this month, but it was delayed due to technological problems.

As the global economy was slowing down, the demand of leasing Satellites would decrease and the lease fees of the whole market including the company were downgraded by 10%, but he believed the lease fees of the Sallites in the next half year would turn to stability, revealed by Jackson.

Richard Lee, chairman of PCCW (0008) said he would resign his position as CEO in the future year and was looking for another person to replace him, but Jackson claimed he had no intention to hold the post and there were no PCCW people contacting with him , either.

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