Astronautic Technology Sdn Bhd

Since 2003, ATSB’s role has expanded as the Government contractor for the application of satellite technology in terms of utilizing
the technology to develop the high-end projects like tsunami early warning system; wind runaway and visual range system; and differential global navigation satellite system. Audit on the management of ATSB from September to December 2010
revealed that ATSB incurred losses amounting to RM2.89 million and RM10.89 million in 2007 and 2009 respectively. Among others, the loss in 2009 was due to RazakSAT Satellite insurance premium payment amounting to RM7.70 million. Generally, ATSB had satisfactorily implemented its activities in accordance with the objectives set. Nevertheless, there were some weaknesses such as the RazakSAT Satellite images not complying with specifications and still requiring few technical corrections; installation of tsunami buoys were not finalized because agreements between countries involved could not be reached; contract for Wind Runway and
Visual Range Systems costing RM8.38 million was signed without clear specifications resulting in ATSB having to incur extra costs. Besides that, the Audit Committee was not formed yet and there were weaknesses in the management, procurement and maintenance of assets. - AG Audit 2010 Synopsis (English)

• Noraini Ahmad is Chairman of the Board of Directors