WHEREAS, the Corporation secured renewal of its congressional franchise for another 25 years, as granted by both the House of Representatives and Senate, and signed into law by His Excellency President Rodrigo R. Duterte on July 23, 2021 with amendments to connect to unlimited number of satellites and transmission within the Philippines. Transpacific Broadband Group International (PSE: TBGI), a publicly-listed Philippine telecommunications company, is paving the way for next generation low-earth orbit satellite (LEOSAT) internet technology in the country.
WHEREAS, the revolutionizing technology of low-earth orbit satellite (LEOSAT) utility economics will serve as the fundamental backbone in driving economic growth, social development and digital inclusion, thus enabling global widespread recovery from the black swan COVID-19 pandemic. Further providing employment and growth opportunities particularly for the marginalized sector across thousands of global digital platforms traversing through Fin-Tech, Edu-Tech, Health-Tech, Agri-Tech and E-commerce.
WHEREAS, TBGI has distributed over 1,500 Very-Small-Aperture-Terminals (VSAT) in various sites across the country, primarily catering to underserved or unserved locations. Among its diverse clientele include private and public schools, hospitals, banks, local government units, telecommunications, mining companies, power generators, multimedia content creators and major retail chains.
WHEREAS, Asian Development Bank in a webinar event (Digital Connectivity and Low Earth Orbit Satellite Constellations - YouTube), the expert panel highlighted the dynamic evolution of LEOSAT technology and its pivotal role in supporting key elements of economic resilience xxx . xxx (please refer to attachment)
After discussions, the following resolutions were unanimously approved by the Board of Directors: “RESOLVED, that the Board of Directors authorizes TBGI to enter into an agreement with ABS Global Ltd., a leading international satellite operator, for the development and maintenance of multiple state-of-the-art earth stations in strategic areas nationwide specifically for Low-Earth Orbit Satellite (LEOSAT) connectivity;
RESOLVED, that the Board of Directors authorizes TBGI to engage in discussions with major Low-Earth Orbit Satellite (LEOSAT) operators including American aerospace company Starlink, a division of SpaceX, for the rollout of LEOSAT broadband technology in the Philippines by 2022.
RESOLVED, FURTHER, that Mr. Paul B. Saria, Chief Operating Officer, be authorized to sign any and all documents or papers necessary to execute the foregoing matters;
RESOLVED, FINALLY, that the foregoing resolution remain valid and subsisting, unless otherwise revoked or amended in writing by the Corporation.”
The subject resolutions may contain statements about future events and expectations that constitute “forward-looking statements.” Although the managed service provided by TBGI and ABS Global are specifically for LEOSAT earth stations, the forward-looking statements are subject to known and unknown risk and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Known uncertainties affecting forward looking statements includes (1) change in political climate, (2) regulatory risk, (3) foreign exchange risk, and (4) project completion risk. Lastly, such forward looking statements are made based on (i) management’s current expectations and discussions with ABS Global Ltd., (ii) speak only as at the date of this resolution, (iii) nothing contained in the resolution should be relied upon as a promise or representation as to the future (iv) the authorization for agreement and engagement are still not definitive in nature as they are yet plans of the Company and may differ from the final execution documents. |
About Starlink: Based on public information, Starlink is a division of American aerospace company SpaceX owned by Mr. Elon Musk, which currently operates approximately 1,500 low-earth orbit satellites into space and has previously announced its firm intention to expand in the Philippines. “We are excited in the unlimited prospects of empowering government units, businesses and millions of Filipino households with advanced satellite internet services to meet their growing requirements for fast and reliable connectivity. LEOSAT technology offers a unique combination of affordability, speed, flexibility, ease-of-setup and a 27-millisecond low-latency bandwidth to deliver a superior online experience in the next level internet-of-things. |