Global Invacom secures contracts worth $6m with Asian satellite provider
Satellite communications equipment provider Global Invacom announced on Tuesday that its wholly-owned Malaysian subsidiary, Global Invacom Sdn. Bhd. (GISB), has secured new contracts worth $6m to supply direct-to-home satellite outdoor units to a major unnamed Asian satellite service provider.
The AIM-traded firm said GISB would supply “state-of-the-art” equipment to enhance the infrastructure used to transmit high-definition satellite television for the service provider's subscribers throughout the entire territory covered by the service.
It said the first contract was for equipment similar to that supplied by the group previously, while the second was for equipment that had been previously supplied by the group's only other competitor.
The board said the contracts reflected the “confidence and trust” that customers placed in Global Invacom's products and technical capabilities.
Both contracts would run for 24 months between the group and the service provider, with which the group secured its first contract in December 2012.
The two contracts were expected to contribute to the group's financial performance for the financial year ending 31 December 2019.
“These contract wins underscore our partner's continued faith in our services and products,” said Global Invacom executive chairman Tony Taylor.
“We value the strong relationship built up over the years with such a large Asian broadcaster.
“Global Invacom will continue to seek out similar opportunities to drive growth and enhance value for our shareholders.”