Thuraya signs first service-provider agreement in Asia-Pacific

Asia Pacific Satellite Industries Ltd (APSI), partly owned by Thuraya, is a leading provider and manufacturer of satellite-based solutions and products. It manufactures a variety of satellite-related ground equipment including handheld terminals, receivers and transmitters.

It is widely known as the makers of Thuraya's second-generation products, including the world's smallest and smartest satellite handsets, the SO-2510 and SG-2520.

The SP agreement will make APSI the sole provider and distributor of Thuraya products and services in South Korea, one of the largest and sophisticated Asian markets. Under the deal, APSI will be promoting, marketing, selling and providing all customer care aspects for Thuraya's potential users in South Korea.

Thuraya also signed a Memorandum of Understanding (MoU) with APSI, which sets the stage for broader future cooperation between the two companies in the manufacturing and innovation of Thuraya products and services.

The agreements were signed in Seoul this week by Thuraya CEO, Mr. Yousuf Al Sayed, and the President and CEO of APSI, Dr. Jang Soo Ryo. Other senior executives, including Thuraya's Chief Commercial Officer Sultan Al Ghafli, attended the ceremony.

Mr. Al Sayed praised the agreements and APSI: "We are pleased to expand our already excellent commercial partnership with APSI to the commercial and distribution field," he said.

"As the manufacturer of Thuraya's widely acclaimed handheld terminals, APSI is already well-known in the mobile satellite industry, producing high-quality and innovative gadgets," Mr. Al Sayed added.

On his part, Dr. Jang said APSI was proud to be Thuraya's first service provider in the region.

"These agreements will take our partnership to higher levels, enabling us to expand our current business portfolio to include the provision of satellite telecom services to Korean businesses and individuals. We know the Thuraya business very well and we are already their technology partners. The new commercial relations will mean a lot of leverage for both companies," Mr. Jang said.

The agreements are part of Thuraya's efforts to have partnerships in place before it starts commercial operations in the Asia-Pacific after the launch of its new satellite, Thuraya-3, in the fourth quarter of 2007.