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Astro considering restructure proposals

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Astro considering restructure proposals

July 27, 2009 by TVA Editor

Kuala Lumpur – Astro All Asia Networks plc is considering various proposals to restructure the company in efforts to put in place an efficient capital and corporate structure. The exercise may include a separation of its overseas operations, as well as a possible one-time special dividend payoff. At a press conference, deputy chairman and group CEO Ralph Marshall said the board had not decided on any of the proposals that its bankers had put forth and that no timeframe had been set for any possible restructuring. Several media reports had speculated that Astro was considering a plan to divest its unprofitable international operations in a deal valued at about RM9billion. The reports said Astro’s two main shareholders, privately-held Usaha Tegas Sdn Bhd and Khazanah Nasional Bhd, would buy the company’s unprofitable international operations in a deal which might see Astro paying a one-off dividend of RM1 per share. The reports also suggested Astro would sell its Indian operations. Currently, Astro has a number of international investments including a stake in Indian DTH venture, Sun Direct TV and Celestial Pictures of Hong Kong.

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