Astro to continue driving higher level of penetration, scale in Malaysian households

KUCHING: Astro Malaysia Holdings Bhd (Astro) has affirmed that it will continue to invest in engines that will drive a higher level of penetration and scale in Malaysian households as the group charts its growth for the coming years.

According to independent non- executive chairman Tun Dato’ Seri Zaki Tun Azmi in the group’s annual report 2018, the group will also continue to firmly entrench Astro in the individuals space in and beyond Malaysia, while making strategic and opportunistic investments to spur future growth.

“We will continue to confront disruptive technologies as we navigate through the dynamic media landscape,” Zaki said.

“All these plans will be executed within a framework of governance, risk management and controls to safeguard our assets, and address the concerns of stakeholders, as we continuously innovate to defend Astro’s position as Malaysia’s leading content and consumer company with growing Asean presence.”

Tun Zaki observed that the media industry has evolved rapidly over the last few years and the pace of change can only accelerate moving forward.

“Astro is steadfast not only in keeping pace, but maintaining a lead position in our business and venturing into innovative new opportunities for the long-term sustainability of our business.

“The trust of our customers developed over the last 22 years remains an invaluable asset as we continue to transform to stay ahead of the curve, refreshing our value proposition for our customers.”

In financial year 2018 (FY18), Astro had delivered on the group’s promise of paying out at least 75 per cent of profits to our shareholders.

Astro’s board had also recommended a final dividend of 0.5 sen per share which is subject to shareholders approval at the upcoming annual general meeting (AGM), bringing the total dividend for FY18 to 12.5 sen per share.

Cumulatively, Astro has rewarded its shareholders with a payout of over 100 per cent of profit after tax and minority interest ( PATAMI) since the group’s initial public offering (IPO), and 85 per cent in FY18.

“Since our listing in October 2012, we have declared dividends totalling over RM3.1 billion,” he said.

“Moving forward, we hope to continue to reward our loyal shareholders with an attractive dividend yield, while simultaneously maintaining financial discipline to ensure we have sufficient headroom to progressively invest in our business.”