Sigmund Freud described denial as a state of “knowing-but-not-knowing.” The distance between the world as it is and the world as you want it to be is simply too great, and you freeze in your tracks. Freud saw denial, in the worlds of his leading biographer as “a state of rational apprehension that does not result in appropriate action.”

Who could have imagined that the entire global financial system would be in distress and cause an economic crisis of such proportion? This did not happen overnight! We heard the warning and saw the signs, but failed to take appropriate action. Were we in a state of DENIAL?

The rate of new investment has a higher hurdle to cross and raises concern from shareholders and creditors alike. The profit pool is shrinking taking away by the bargaining power from (intermediate) customers and suppliers. Limited consumer spending will definitely affect revenue of most industries for many months to come.

Some markets may see a rise in demand for satellite capacity but the price customers are willing to pay may not justify the cost of the service nor the investment to provide the service under the current situation.

One way to solve the problem is to increase our productivity and share resources among operators as much as possible. We have to look for more cooperation rather than competition to get beyond this crisis. One thing that we should not do is think only short term, sell today and forget long term value.

A New Year has come - a time to share pleasant thoughts with family, loved ones and friends, caring for each other and to rejuvenate. We, the APSCC staff, wish all of our members a very happy new year.

Best regards,

Nongluck Phinainitisart
President
APSCC