SGS1 is the first satellite to be sent in 2019.

The satellite will provide high-speed Ka-Band satellite communication and advance technology telecommunications services,  contribute to the national strategic plan by fulfilling the needs of Saudi Arabia.

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The company stated they took this strategical decision as they expect ‘extraordinarily difficult challenges’.

The Wall  Street Journal declared that the company is vulnerable to setbacks after reviewing the internal financial documents.

The failed- rocket launch in 2015 caused the company quarter-billion dollar annual loss and a 6 percent drop in revenue.

Again in 2016, the expoliton of another rocket resulted in the destruction of a $200 million communications satellite on board.

Musk is criticized for acting too fast in the complex industry.

The California-based company aims to make a revolution in space travel and colonize Mars.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.