AsiaSat initially sold the jointly controlled entity, Dish-HD Asia Satellite, to an independent third party in December 2011. The sale was completed seven months later.

   In a company statement, AsiaSat said the disposal did not result in any gain or loss in profits. “In the first half of 2011, the [AsiaSat] Group shared a loss of $57 million by Dish-HD Asia Satellite. The Group had no such expense in the current period under review.  However, profit was affected by tax provisions reflecting the impact of the adoption of the new Finance Act in India, which was enacted with retrospect effect in May 2012. There was, consequently, an adverse effect on our profit, as we had to record a provision against potential Indian income tax for Indian-sourced revenues for services rendered in the past.

   AsiaSat’s 2012 second quarter revenues were approximately $141.1 million, representing a 37 percent increase from the same period in 2011. The operator is currently developing plans for its AsiaSat 7 satellite, which is scheduled to replace the AsiaSat 3S satellite in 2014.