Astro Malaysia subsidiary to sell broadband assets to Maxis for RM83 million

Astro Malaysia Holdings Bhd announced that its wholly-owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd, entered a conditional sale and purchase agreement with Maxis Broadband Sdn Bhd to offload its broadband business assets for RM83 million. The deal is treated as a related-party transaction because of overlapping interests among directors and major shareholders. Completion is targeted for the second quarter of 2027, barring unforeseen events.

Astro expects to record a gain from the disposal, strengthening its cash position and giving it greater flexibility to invest in its core businesses of content, entertainment, advertising and related consumer services. The proceeds will be allocated to working capital over a 36-month period, while the balance will cover disposal-related expenses within three months after closing. The transaction will not affect Astro's share capital or the shareholdings of its substantial shareholders, as no new shares will be issued. Public Investment Bank Bhd has been appointed as the independent adviser to represent non-interested shareholders and directors.