PALO ALTO, CA, April 28, 2014 /CNW/ - Space Systems/Loral (SSL), a leading provider of commercial satellites, today announced that it was selected to provide a satellite to PT. Bank Rakyat Indonesia (Persero) Tbk (BRI), the oldest and most profitable bank in Indonesia. The SSL-built satellite will make BRI the first bank in the world to launch a communications satellite, and will provide a dedicated platform for banking connection services for the people of Indonesia.
BRIsat is a C-band and Ku-band satellite that will be positioned at 150.5 degrees East longitude with coverage of South East Asia and Indonesia. It will help BRI provide secure banking communications for its over 9,800 branches, over 100,000 electronic channel outlets and over 50 million customers across Indonesia.
"SSL is pleased to partner with BRI on its first satellite," said John Celli, president of SSL. "It is an honor to work with this venerable institution that has done so much to serve the people of Indonesia and to strengthen its economy."
BRIsat is based on the SSL 1300 satellite platform, which has the flexibility to support a broad range of applications and technology advances. Scheduled for launch in 2016, it will provide service for 15 years or longer.
"BRI selected SSL, the leading communications satellite manufacturer in the world, because of their reputation for quality, heritage and reliability," said BRI President Director Sofyan Basir. "Because over 50 million Indonesian customers count on BRI for their financial needs, the success of the BRIsat satellite project is our highest priority. We look forward to working with SSL on the successful initiation and delivery of our first satellite."
In addition to the BRIsat satellite, SSL will provide a complete ground system, which includes two satellite control facilities, as well as training, and launch support services.
Bank Rakyat Indonesia (Persero) Tbk. (BRI) is one of the largest state-owned banks in Indonesia. BRI went to public through Initial Public Offering in 2003 and became one of the blue chip stock traded in the Indonesia Stock Exchange. The Indonesian Government still keeps the majority share of 56.75%. For more detail, visit www.bri.co.id.
SSL has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SSL satellites every day. For more information, visit www.sslmda.com.
This news release contains forward-looking statements and information, which reflect the current view of Space Systems/Loral (SSL) with respect to future events and financial performance. When used in this news release, the words "believes", "expects", "plans", "may", "will", "would", "could", "should", "anticipates", "estimates", "project", "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. Known risks and uncertainties include but are not limited to: risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; risks associated with satellite manufacturing, including competition, cyclicality of SSL's end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of SSL's factory and personnel; risk associated with financial factors such as volatility in exchange rates, increases in interest rates, restrictions on access to capital, and swings in global financial markets; risks associated with domestic and foreign government regulation, including export controls and economic sanctions; and other risks, including litigation. The foregoing list of important factors is not exhaustive. The information contained in this news release reflects SSL's beliefs, assumptions, intentions, plans and expectations as of the date of this news release. Except as required by law, SSL disclaims any obligation or undertaking to update or revise the information herein.
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