Thaicom and CAT Telecom recently announced a satellite business joint venture in order to strengthen Thailand’s telecommunications infrastructure and to support the growth of the digital economy and satellite industries.
The two companies are partnering to form a joint venture company called ‘Nation Space and Technology Company Limited’. The joint venture has a registered capital of Baht 10 million. Thaicom holds a 75 percent stake, whereas CAT holds a 25 percent stake in the joint venture.
Both public and private organizations are increasingly adapting to digital technology, which is leading to more and more online transactions. In this environment, the development of technology services via Low Earth Orbit (LEO) satellites will benefit everyone with access to high-speed internet services via 5G technology, IoT (Internet of Things) devices, M2M (Machine to Machine) technology, as well as drone technology and applications in areas that require high levels of accuracy, such as remote surgery. LEO satellite systems are ideal to power these applications due to their low latency.
Anant Kaewruamvongs, CEO, Thaicom said,"Together with CAT’s extensive know-how in providing digital solutions, the two companies will leverage advanced satellite services and solutions for various applications and the digital industry."
Colonel Sanpachai Huvanandana, President of CAT Telecom said,"The establishment of this joint venture company will help to increase the opportunity to develop telecom services via Low Earth Orbit satellite systems in order to meet all kinds of future communications throughout Thailand."