PALO ALTO, CA, June 20, 2016 /PRNewswire/ - Space Systems Loral (SSL), a leading provider of commercial satellites, today announced that a satellite designed and built for PT. Bank Rakyat Indonesia (Persero) Tbk. (BRI), the oldest and most profitable bank in Indonesia, was launched on Saturday and is successfully performing post-launch maneuvers according to plan. The satellite, BRIsat, deployed its solar arrays on schedule following its launch aboard an Ariane 5 launch vehicle from the European Spaceport in Kourou, French Guiana, and began firing its main thruster to propel it toward its final geostationary orbit. BRI will use the satellite as a dedicated platform for banking connection services for the people of Indonesia.
BRIsat is the world's first communications satellite owned and operated by a bank. It will provide both C-band and Ku-band coverage of Indonesia and South East Asia, and enables BRI to provide expanded secure banking communications to almost 60 million customers across the Indonesian archipelago, including locations where banking services were previously unavailable.
"It has been a pleasure to work together with BRI on the development and launch of its satellite, which will improve lives by providing expanded access to banking services," said John Celli, president of SSL. "This launch marks two successes for SSL, as we built both the satellites that were launched on Saturday on the Ariane 5."
BRIsat is based on the SSL 1300 satellite platform, which has the flexibility to support a broad range of applications and technology advances. Positioned at 150.5 degrees East longitude, the satellite is designed to provide service for 15 years or longer.
"SSL has been an excellent partner in providing a high quality satellite which was delivered and launched on schedule," said BRI CEO Asmawi Syam Syamsuddin. "SSL and BRI share a mutual understanding and common spirit that helped make this project a success. As the leading bank in Indonesia with the largest microfinance business in the world, our communication network is critical and BRIsat will play an important role in growing this network's strength and reliability.
In addition to building BRIsat, SSL provided BRI with a complete satellite control system solution, which includes two satellite control facilities. The company also provided training, and launch support services.
PT. Bank Rakyat Indonesia (Persero) Tbk. (BRI) is one of the largest state-owned banks in Indonesia. BRI went to public through Initial Public Offering in 2003 and became one of the blue chip stock traded in the Indonesia Stock Exchange. The Indonesian Government still keeps the majority share of 56.75%. For more detail, visit www.bri.co.id.
Space Systems Loral (SSL) is a leading provider of commercial satellites with broad expertise to support satellite operators and innovative space related missions. The company designs and manufactures spacecraft for services such as direct-to-home television, video content distribution, broadband internet, mobile communications, and Earth observation. As a Silicon Valley innovator for more than 50 years, SSL's advanced product line also includes state-of-the-art small satellites, and sophisticated robotics and automation solutions for remote operations. For more information, visit www.sslmda.com.
This news release contains forward-looking statements and information, which reflect the current view of Space Systems Loral (SSL) with respect to future events and financial performance. When used in this news release, the words "believes", "expects", "plans", "may", "will", "would", "could", "should", "anticipates", "estimates", "project", "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. Known risks and uncertainties include but are not limited to: risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; risks associated with satellite manufacturing, including competition, cyclicality of SSL's end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of SSL's factory and personnel; risk associated with financial factors such as volatility in exchange rates, increases in interest rates, restrictions on access to capital, and swings in global financial markets; risks associated with domestic and foreign government regulation, including export controls and economic sanctions; and other risks, including litigation. The foregoing list of important factors is not exhaustive. The information contained in this news release reflects SSL's beliefs, assumptions, intentions, plans and expectations as of the date of this news release. Except as required by law, SSL disclaims any obligation or undertaking to update or revise the information herein.