Astro confirms restructure on table
Confirmation has come from Malaysia’s Astro All Asia Networks that it is indeed considering restructuring some of its assets.
The media group domestically operates channels as well as a pay-TV platform and internationally has stakes in various operations including India’s Sun Direct TV DTH offering and Celestial Pictures/Movies Channel. It is the international operations the broadcaster is said to be hiving off.
A statement to the Bursa Malaysia, the market Astro’s shares are listed on, said: “The Board of the Company wishes to inform that it is considering various options to restructure the Company with a view to achieving a more efficient capital and corporate structure. In this regard, the Company has appointed advisers for this purpose, and has received certain proposals which the Board is evaluating.”
An announcement would be made “at the appropriate time”, the statement continued.