Thaicom reports 23.7% decline in revenue

SET-listed satellite service operator Thaicom has reported a 23.7% year-on-year revenue drop in sales of goods and services to 3.5 billion baht in 2020, mainly caused by the deorbiting of its Thaicom 5 satellite last year.

Thaicom 5 encountered a technical issue in December 2019, resulting in technical limitations with regard to monitoring the satellite’s status.

The company said a series of attempts were made to recover the satellite’s status from a technical perspective but they had been unsuccessful.

The satellite, which had provided satellite communication services for 14 years, was eventually deorbited in February 2020.

The company said the deorbiting of Thaicom 5 resulted in service termination, particularly among foreign customers who were not…