Kuala Lumpur – Astro Malaysia Holdings Berhad (Astro) through its wholly-owned subsidiary, Astro Retail Ventures Sdn Bhd has entered into a Shareholders’ Agreement with GS Home Shopping Inc. on February 11 to establish a home shopping business in Malaysia through Astro GS Shop Sdn Bhd (AGSSB). AGSSB will be 60% owned by Astro Retail Ventures Sdn Bhd and the remaining 40% by GS Home Shopping Inc., a home shopping operator in Asia with presence in South Korea, China, Vietnam, Indonesia, Thailand, India and Turkey.
Liew Swee Lin, Chief Commercial Officer of Astro and Cho Sunggoo, Senior Vice President of GS Home Shopping exchanging documents after signing of Shareholders’ Agreement to establish Astro GS Shop Sdn Bhd.
Liew Swee Lin, Chief Commercial Officer of Astro, said, “We are pleased this partnership will bring together Asia’s two leading brands – Astro in consumer media entertainment, and GS Home Shopping in lifestyle home shopping. Astro’s brand promise is to continuously evolve our value proposition in our quest to serve our customers and all Malaysians better. We are happy that our partnership with GS Home Shopping is set to deliver a best-in-class home shopping experience for the convenience and entertainment of all Malaysians, especially our growing 3.8 million customer base. In doing so, we will complement GS Home Shopping’s know-how with our own capabilities both on and off-air including our talent, production and broadcasting facilities and customer service. We hope our customers will enjoy this new shopping experience from Astro from the comfort of their homes and on the go,” she added.
Cho Sunggoo, Senior Vice President of GS Home Shopping, said, “We will put together all our business know-how that we have accumulated over the past 20 years in Korea and our global network in 6 countries outside of Korea to build a successful business model of home shopping here in Malaysia.”
Astro home shopping channels and service will be launched in the second half of 2014. Malaysians can look forward to world class home shopping experience with Astro’s top talents showcasing specially curated range of products and brands, and accessing the home shopping service on TV, the Internet, catalogues and new media platforms such as smartphones and tablets.
