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1st Quarter FY21 Results

18 June 2020

This document contains certain forward-looking statements with respect to Astro Malaysia Holdings Berhad’s (“Astro”) financial condition,

results of operations and business, and management’s strategy, plans and objectives for Astro. These statements include, without

limitation, those that express forecasts, expectations and projections such as forecasts, expectations and projections in relation to new

products and services, revenue, profit, cash flow, operational metrics etc.

These statements (and all other forward-looking statements contained in this document) are not guarantees of future performance and are

subject to risks, uncertainties and other factors, some of which are beyond Astro’s control, are difficult to predict and could cause actual

results to differ materially from those expressed or implied or forecast in the forward-looking statements. These factors include, but are

not limited to, the fact that Astro operates in a competitive environment that is subject to rapid change, the effects of laws and

government regulation upon Astro’s activities, its reliance on technology which is subject to risk of failure, change and development, the

fact that Astro is reliant on encryption and other technologies to restrict unauthorised access to its services, failure of key suppliers, risks

inherent in the implementation of large-scale capital expenditure projects, and the fact that Astro relies on intellectual property and

proprietary rights which may not be adequately protected under current laws or which may be subject to unauthorised use.

All forward-looking statements in this presentation are based on information known to Astro on the date hereof. Astro undertakes no

obligation publicly to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This presentation has been prepared by Astro. The information in this presentation, including forward-looking statements, has not been

independently verified. Without limiting any of the foregoing in this disclaimer, no representation or warranty, express or implied, is made

as to, and no reliance should be placed on, the fairness, accuracy or completeness of such information. Astro and its subsidiaries,

affiliates, representatives and advisers shall have no liability whatsoever (whether in negligence or otherwise) for any loss, damage, costs

or expenses howsoever arising out of or in connection with this presentation.

Disclaimer

1 | 1Q FY21 results

NB:

(1) Normalised PATAMI excludes post-tax impact unrealised forex gain/(loss) 1Q FY21: (RM 33mn), 1Q FY20: (RM 8mn) due to mark-to-

market revaluation of transponder-related lease liabilities

1Q FY21 key performance highlights

2 | 1Q FY21 results

EBITDA

Normalised PATAMI (1)

FCF of RM323mn

Revenue

Commerce

Adex

RM1.23bn → RM1.05bn

RM145mn → RM90mn

Resilient adex share for TV, Radio and Digital

RM84mn→ RM95mn

Increasing sales amid soft market

RM444mn → RM330mn

EBITDA margin of 31%

RM184mn → RM107mn

Normalised PATAMI margin of 10%

438% of PATAMI,

1.0sen dividend declared

1Q FY20 1Q FY21

Year-on-year financial highlights

NB

(1) TV household data sourced from the Department of

Statistics Malaysia and Media Partners Asia

(2) Household penetration comprises residential Pay-TV

customers and NJOI customers

(3) Viewership share is based on DTAM deployed by Kantar

Media DTAM

(4) Audience measurement is based on GfK

(5) Digital monthly unique visitors (“MUV”) to Astro’s digital

brands, averaged over the last 12 months as sourced from

comScore

(6) Connected set-top boxes (STBs) are internet-ready with

recording functionality and have access to Astro’s On

Demand library of content

(7) Normalised PATAMI excludes post-tax impact of unrealised

forex gain/(loss) YTD FY21: (RM 33mn), YTD FY20: (RM 8mn)

due to mark-to-market revaluation of transponder-related

lease liabilities

(8) Numbers may not add up due to rounding differences

3 | 1Q FY21 results

FY21 year to date overview

Steady engagement across TV, radio and digital…1Q FY20 1Q FY21 Change

Total TV households in Malaysia (000s)(1) 7,470 7,589 2%

TV household penetration(2) 77% 75% -2 p.p.

TV customer base (000s) 5,711 5,680 -1%

Pay TV ARPU (RM) 100.4 99.1 -1%

Astro TV viewership share(3) 73% 74% 1 p.p.

Radio listenership (mn) (4) 16.7 16.9 1%

Digital MUV (mn)(5) 9.3 12.3 32%

Connected STBs (000s) (6) 1,024 1,003 -2%

1Q FY20 1Q FY21 Change

Revenue (RM mn) 1,234 1,053 -15%

Adex (RM mn) 145 90 -38%

EBITDA (RM mn) 444 330 -26%

EBITDA margin 36% 31% -5 p.p.

Normalised PATAMI (RM mn) (7) 184 107 -42%

FCF (RM mn) 252 323 28%

EPS (RM sen) 3.4 1.4 -58%

… underpinning resilient performance

Easing the stay@home experience for Malaysians

4 | 1Q FY21 results

• Complimentary access to 24

channels and 13,000 On Demand

titles on Astro GO for all

Malaysians

• Complimentary viewing of News,

Learning, Asian Movies and Stay

Home Concert channels

• Complimentary viewing of all

channels* for Sports Pack

customers

• RM40 special rebate over the

next two bills for Sports Pack

customers

NB

* For residential customers only, excludes Pay Per View movies and events

• Complimentary viewing of KIX,

Nat Geo Wild, Celestial Movies

and Cartoon Network channels

• Round the clock news coverage

on the COVID-19 pandemic

• Assisting the government to

disseminate important updates

and discredit false news

• Aired over 128,000 PSAs across

all stations

• 3,000 hours of PSAs airtime

allocated across Astro channels

• Produced 106 Public Service

Announcements (PSAs) and

carried 18 government PSAs

across 4 languages

Doing our part for the community during MCO

and CMCO

Easing Malaysians’ stay@home during MCO and CMCO

• Featured over 2,000 community

articles across digital brands

Business impact of COVID-19 and MCO

5 | 1Q FY21 results

• No new installations allowed (Pay-TV,NJOI

and broadband)

• Package upsell impacted due to

complimentary viewing offered

• Advertisers pull back on advertising spends

• No shooting of new commercials

• Supply chain disruptions

• Cancellation/reduced frequency of live shows

• Deferment/cancellation of key sporting and

live events globally

• Productions with live audiences not allowed

• Cinemas closed

• Launched new channels and new content formats

• Sports Packs rebate

• Premiering local movies directly to home cinemas

• Installations resumed during CMCO

• To alleviate customers’ financial burden, temporarily

suspended disconnections and offered flexible

subscription and payment plans to eligible customers

• Actively engaging residential and commercial

customers to manage receivables

• Raised provisions for doubtful debt

• Integrating TV, radio and digital team to provide

total advertising solutions to clients

• New ad formats introduced

• Expanded offerings to include fresh and frozen

food, fruits and ready meal options and health-

related products

• Daily social media live streams

Our response

Content

TV

Adex

Commerce

Business impact

Digital Brands

• Largest Pay-TV

operator in SEA

• Serving 5.7mn

households

• 75% household

penetration

• 39% TV adex share

• 1mn connected STBs

• 12.3mn digital MUV

across over

25 digital brands

• Gempak is the #1

Malaysian digital

entertainment

brand

• 2% digital adex share

• 24/7 multilanguage

shopping experience

• Multiplatform: TV &

ECMC

• 2.4mn registered

customers

• 11 radio brands

• #1 in every language-

English, Malay,

Chinese, Tamil

• 16.9mn weekly

listeners & 3.0mn

monthly digital radio

users

• 84% radex share

Entertainment destination for Malaysians

RADIO

• Leading content

creator, producer &

aggregator

• Produced and

commissioned 11,300

hours of homegrown

content in FY20

• Rich On Demand library

of over 51,000 titles

6 | 1Q FY21 results NB:

Connected set-top boxes (STBs) are internet-ready with recording functionality and have access to Astro’s On Demand library of content

DIGITAL COMMERCECONTENT

Radio Brands

TV

• 2.8mn Astro GO registered

users

• 12.3mn digital MUV

• 16.9mn weekly radio listeners

• 3.0mn monthly digital radio

users

• 2.4mn registered Go Shop

customers

• 75% household penetration

• 5.7mn households

• 1mn connected STBs

• 11,300 hours of content

produced in FY20

• 35mn On Demand shows

streamed in Q1 FY21

Gateway to homes and individuals

7 | 1Q FY21 results

Strategy Assets Products Key Focus Areas

Deepening Home

engagement

Broadening reach

to Individuals

Pay-TV: Protect Premium Pay

NJOI: Win remaining market

Streaming Services: Activating partnerships

Broadband: Connectivity for homes

Radio and digital: Engaging customers

Commerce: Redefine home shopping

• Reinvigorate customer experience

• Refresh content

• Reset customer service

• Reward customers

• Ease prepaid path to purchase

• Increase content choices

• Astro GO enhancement

• Standalone OTT offerings

• Leverage record listenership

• Digitalising terrestrial radio

• Growing digital brands

• Content differentiation

• Harness production capabilities

• Diversify and deepen product portfolio

• Drive broadband penetration

YTD FY21 Progress report Pay TV

Reinvigorate Customer Experience

✓ Complimentary viewing of selected channels during MCO and CMCO

✓ Rebate for Sports Pack customers

Refresh Content

✓Activating home cinemas and premiered first run movies on Astro First

✓Launched new channels Astro Rania and Astro Aura offering up to 480 hours of fresh content monthly

Reward Customers

✓Ongoing privileges for customers

NJOI

✓ Added new a-la-carte channels and packs for purchase

✓ 60 prepaid channels offered for purchase

✓ Complimentary viewing of four premium channels during MCO and CMCO

Broadband

✓Launched content-broadband bundle with Allo in Alor Gajah and Cyberjaya

✓ Expanded 4K UHD Ultra Box to IPTV customers

Streaming Services

✓ Launched HBO GO standalone subscription to all Malaysians

✓ Complimentary access to selected content on Astro GO for all Malaysians during MCO and CMCO

Radio & Digital Brands

✓ Launch BONDHU, a 24-hour digital radio app serving the Bangladeshi community in Malaysia

Commerce

✓ Expanded product offerings to include fresh food and more health related products to meet rising demand

✓ Launched Ramadhan e-Bazaar, to assist SMEs in marketing their goods during Ramadhan

✓ Launched special edition channel -Ramadan & Raya Edisi Khas in conjunction with Raya 2020

Please refer to slide:

#17 to #19 & #21


#22


#20 to #21Please refer to slide:

#23


#24 to #25


#268

748900

YTD FY20 YTD FY21

171 191

1Q FY20 1Q FY21

9071,186

1Q FY20 1Q FY21

26%74%

TV Viewership Share (1)

3:203:43

2:14 2:11

YTD FY20 YTD FY21

Avg. Time Spent/Day (hrs)

12.3 12.8

6.8 7.5

YTD FY20 YTD FY21

Avg. Daily Viewers (mn)

Avg. Weekly Viewing (mins)Linked Customers (5) (’000) Monthly Active Users (4) (’000)

31%20% 12%

NB:

(1) Target Audience: Kantar Media,

Dynamic TV Audience

Measurement (DTAM). All Astro

Pay-TV viewers

(2) Cumulative since inception

(3) Connected set-top boxes (STBs)

are internet-ready with

recording functionality and

have access to Astro’s On

Demand library of content

(4) Source: App Annie as at 30 Apr

2020 at device level

(5) Pay-TV customers who have

linked their account to Astro

GO for seamless viewing

1,024 1,003

YTD FY20 YTD FY21

Total Connected STBs (2)(3)

(’000)

2%

16

35

1Q FY20 1Q FY21

On Demand Shows Streamed (mn)

119%

482 556

1Q FY20 1Q FY21

Avg. Weekly Viewing (mins)

15%

4.1%11.5%

9 | 1Q FY21 results

10.3% 2.2%

Jump in reach and engagement seen in 1Q FY21

On Demand

2000 Prime

TalkVenpa

Vernacular content underpins viewership share

10 | 1Q FY21 results

FTA 26%

Vernacular content

57%

Others43%

Astro 74%

1Q FY21 TV Viewership Share (2)

TV viewership

2.5mn 1.3mn 1.2mn

Dansa Dan

Sing

Evening Edition

204channels

74Astro-branded

channels

28free channels

NB

(1) Number of channels as at 1Q FY21

(2) Target Audience: Kantar Media, Dynamic TV Audience Measurement (DTAM). All Astro Pay-TV viewers

Sepahtu Reunion

LIVE 2020BOBOIBOY

MOVIE 2

(1)

TV viewership

526k 507k 368k

Key Malay language IPs

106HD channels

>60prepaid channels

3Ultra HD channels

Key non-Malay language IPs

1,005 987 955 953 868

145 158 167 172

90

84 91 93 100

95

100.40 100.00 99.90 100.00 99.10

20

30

40

50

60

70

80

90

100

110

120

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

1Q FY20 2Q FY20 3Q FY20 4Q FY20 1Q FY21

GoShop (14%)

Adex (-38%)

Subscriptions/Others (-14%)

ARPU (-1%)

1,2261,2361,234 1,215

1,053

(RM mn)Total revenue

NB

(1) Disclosed as Subscription revenue and Other revenue in our financial statements, includes revenue streams such as TV subscription,

licensing income, programme sales, NJOI revenue and theatrical revenue

(2) YTD refers to 3 months ended 30 April


(1)

YTD Growth (2)


Revenue impacted by challenging conditions

(1)

YTD growth

YTD FY20 YTD FY21

NB

(1) Advertising income is net of commissions and discounts

(2) YTD growth refers to 3 months ended 30 April

(3) Audience measurement is provided by GfK. Share of radex is based on Astro and IPG’s estimates (with Nielsen gross adex as base)

(4) Viewership share is based on DTAM deployed by Kantar. Share of TV adex is based on Astro and IPG’s estimates (with Nielsen gross adex as base)

(5) Malaysia gross adex figures (covering TV, print, radio, cinema, in store media, outdoor and digital) are based on Nielsen gross adex and IPG’s estimates


YTD FY20 YTD FY21

YTD FY20 YTD FY21

80 86 88 84

49

56 60

67 72

33

9

12 12 16

8

145

158 167

172

90


TV Radio Digital Total

YTD FY20 YTD FY21

Advertising income (RM mn)(2)(1)

Total Malaysia

gross ADEX YTD

growth

OVERALL ADEX

-14%

DIGITAL

24%

RADIO

-41%

TV

-30%

(2)(5)

77%

YTD FY20 YTD FY21

YTD FY20 YTD FY21

Share of radex

Share of TV adex

Radio listeners (mn) (3)

TV viewership share (4)

-38%

Share of digital adex Digital MUV (mn)


73%

-41%

-39%

-11%

Suppressed adex due to weak consumer sentiment

80% 84% 16.7 16.9

39%47% 74%

3% 2% 9.3 12.3

343 375 341 375 309

609 596 586 626

559

36% 35%38%

31% 31%

-50%

-40%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

0

500

1000

1500

2000


EBITDA margin

Content cost/TV

revenue

Other expenses

Content costs

1,001

Relentless focus on operational efficiencies

Total cost

NB

(1) Content costs are disclosed as part of cost of sales in our financial statements

(2) Other expenses include marketing and distribution costs, administrative expenses, STB installation and smartcard costs, depreciation and

amortisation, as well as maintenance costs



(RM mn)

952

31% 35%

971

36%

927

32% 34%

868

NB


Disciplined capex spend

as % of

revenue

(RM mn)

22

10

YTD FY20 YTD FY21

as % of

revenue

Key capex investments in FY21 include:

▪ Technology infrastructure across linear, VOD, OTT &

digital

▪ Customer experience

▪ Product and service upgrading

Cash capex

▪ STBs/ODUs are owned by Astro, and are capitalised

▪ STBs/ODUs are conservatively amortised over 3 years;

note that actual useful life is typically greater than 5

years

▪ Discretionary 36 month bullet payment vendor financing

is available for Astro for STB/ODU purchases

▪ RM500mn of vendor financing recorded in payables, of

which RM220mn is current and RM280mn is non-current

35 28

YTD FY20 YTD FY21


(RM mn)Set-top box (STB) capex

3% 3% 2% 1%

Strong cash generation capabilities

358 409

106 86

252 323

Cash fromoperations

Cash frominvesting

Free cash flow Cash fromoperations

Cash frominvesting

Free cash flow(1) (2) (2)(1)

143% 438%as % of PATAMI

(RM mn)

YTD FY20 YTD FY21

Free cash flow

…enabling significant flexibility on capital management and dividend policy

NB

(1) Excludes investments, disposals and maturities of unit trust and money market funds

(2) Excludes repayments of vendor financing and payments of finance leases, which are categorised as cash from financing for consistency

with Bursa disclosure



▪ Leveraging on invested capital, AMH continues to be highly cash generative

▪ The Board of Directors of AMH has declared a quarterly dividend of 1.0 sen per share for 1Q FY21

▪ Quarterly dividend entitlement and payment dates 3 July 2020 and 17 July 2020 respectively

Quarterly dividend announcement


Gamechanger: Movies premiere direct to homes


• With cinemas closed nationwide, local producers

are premiering their movies directly to homes via

Astro First, our pay-per-view home cinema channel

• Bypassing theatrical releases, Manap Karaoke was

the first Malaysian film to premiere directly to

homes, grossing RM1.1mn to date

• Syif Malam Raya grossed RM3.7mn to date, placing

it among the highest grossing local films in 2020

• Romance drama Ada Apa Dengan Dosa premiered

on June 4, grossing over RM300k to date and horror

film Town Mall will be coming soon

First-run movies on Astro First

Grossing over

RM 1.1mn and counting

Grossing over

RM 3.7mnand counting

Grossing over

RM 300k and counting

Coming

Soon

Content: Live sports returns


LIVE

16 May 2020

LIVE

12 June 2020

LIVE

9 May 2020

LIVE

18 June 2020

Season to complete

by August 2020

Football

LIVE

8 May 2020

Golf

LIVE

11 June 2020

Returning

30 July 2020

Baseball

LIVE

Game now on

eSports

LIVE

Game now on

Basketball

LIVE

Game now on

Motorsports

Returning

5 July 2020

Returning

July 2020

Mixed Martial Arts

Returning

23 July 2020

LIVE

Game now on

Content: Premiering new channels on


• In partnership with EMTEK Group, Indonesia’s largest

media conglomerate

• Up to 480 hours of fresh content monthly

• Showcasing the best of Indonesian entertainment for

families, music and dangdut lovers

Bringing the newest and best of Indonesian

entertainment to Malaysians

Introducing three new Tamil HD channels

• Rajinikanth fans can catch 70 movies starring the

legendary superstar on Rajini70 HD (Ch 100)

channel, available until 30 June

• Fans can enjoy more local Tamil content including

new series on Astro Vaanavil HD (Ch 201) and top-

ranked Tamil shows on Zee Tamil HD (Ch 235)

Broadband: Connectivity beyond urban areas


Direct-To-Home (DTH) IPTV

Delivery of content through

satellite

Delivery of content through

Internet Protocol

Speeds up to 1 Gbps Speeds up to 100 Mbps

In partnership with: In partnership with:

• Expanded content-broadband bundles offerings to serve

suburban areas through our partnership with Allo

• Allo plans to expand fibre footprint across Melaka,

Perak, Johor, Kedah, Selangor and Pulau Pinang,

targeting 150,000 home-passes by 2022

Expanding broadband beyond urban areas

Ultra Box: Extending the experience to IPTV


Play From Start Missed the start? Just restart

SearchSearch faster and easier

Multi-ScreenStream seamlessly across any

device

Stop Here, Continue There Stop on one screen and continue

on another device

Discover the new Astro Experience

New Home Screen Everything you see is yours

Discover VOD 51,000 videos on demand

4K UHD Crystal clear picture

quality, 4x clearer than HD

Cloud Recording Record all the programmes

you want at the same timeUltra Box is now available on IPTV

• Available to IPTV customers with speeds of 30Mbps

and above

• Enjoy seamless and unified interface across both

Ultra Box and Astro GO

NJOI: Content buys up 20% during MCO

28free TV channels

>60 prepaid channels for

purchase

20 free radio channels


Top-up at your convenience

Supermarket

Shopee

e-pay

kioskCh 200 Online

banking

Whatsapp Boost

New ala-carte channels and packs for purchase


Streaming Services: Forging streaming partnerships

• Seamless and unified interface

across both Ultra Box and Astro GO

• Access to On Demand library with

over 51,000 titles from Hollywood,

Korea, Japan, China, Hong Kong,

India, Sports, blockbusters, kids

and popular local vernacular

programmes

• Stream on 4 devices simultaneously

anytime, anywhere

• Over 4,000 hours of premium

content featuring HBO Originals,

Hollywood blockbusters,

documentaries, stand-up comedies,

kids content and more

• Complimentary for Movies Pack

customers and available as add-on

by other Astro customers

• Also available to all Malaysians as a

standalone subscription

• iQIYI’s 1st App partner outside

China

• Exclusive rights to deliver iQIYI

content on TV, On Demand and

Streaming services to Malaysians

• App features Astro originals-

increasing visibility of local content

and talent globally

1.1mnapp downloads

1.0mnshows streamed

1.2mnmonthly active users

NB

(1) Source: App Annie as at 30 Apr 2020

(1)

• People rely on radio for up-to-date news, music, entertainment

and companionship

NB

(1) Based on an online study conducted by Gfk of people aged 15 to 49 in Peninsular Malaysia from 3 May to 10 May 2020

(2) Audience measurement is based on GfK

(3) Based on average three months (Feb 2020 - Apr 2020), Radio Active, Google Analytics

Radio: Leadership through our 11 radio brands


#1In every language

84%Radex share

318k Monthly Active

Users

16mMonthly Digital

Streams

16.9m Weekly listeners

monthly digital

radio users

3.0m(3)

(2)

• Launched BONDHU in April 2020 in collaboration

with Radio Today, Bangladeshi radio and digital

audio content provider

• First-ever 24-hour digital radio app serving the

Bangladeshi community in Malaysia featuring

music, PSAs and specially curated Bengali content

including latest news from Malaysia and Bangladesh

• Offering advertising and sponsorship opportunities

for local businesses to reach and engage over

700,000 individuals online

• Gfk survey during MCO period shows 97% of radio listeners

continue to listen to radio

NB (1) Annual Review of the Reuters Digital News Studies Institute 2020

(2) Source: Digital monthly unique visitors (“MUV”) to Astro’s digital brands, averaged over 3 months (Feb – Apr 2020) based on Google Analytics


Digital: Building a loyal vernacular fanbase

4.2mnDigital MUVs

0.9mnDigital MUVs

No.1Malaysian digital

entertainment brand

No.1Malaysian Indian

digital brand

No.1Malaysian Chinese digital

entertainment brand

8.2mnDigital MUVs

0.8mnDigital MUVs

0.6mnDigital MUVs

Fastest

growing

Chinese

news portal

Entertainment News

Malaysia’s

Most Trusted

News Brand

2020 (1)

Commerce: Record RM40mn+ revenue in April

NB

(1) Data presented for YTD FY21 ended 30 April

(2) Cumulative as of 30 April

Revenue(1) (RM mn)

1.8

2.4

YTD FY20 YTD FY21

Registered Customers(2) (mn)

8495

YTD FY20 YTD FY21

www.goshop.com.myand

Free-to-Air (“FTA”)

Ramadan & Raya Edisi Khas channel

Special edition channel focusing on home

improvement tips, muslimah fashion and

cooking ideas from celebrity chefs

Launched Ramadan e-Bazaar

Supporting over 100 local F&B and SME

businesses through Go Shop’s multiplatform

reach

Available across

all platforms:


Leveraging social media

Increasing digital reach and driving sales

through daily live streams on Facebook

Introducing fresh food options

Offering fresh and frozen food, fruits and

ready meal options

14%

28%

Appendix

(RM mn) 1Q FY20 1Q FY21

EBITDA 444 330

Margin % 36% 31%

Depreciation and amortisation (159) (145)

EBIT 285 186

Margin % 23% 18%

Finance income 7 7

Finance cost (65) (96)

PBT 227 97

Tax expense (57) (24)

Tax rate % 25% 25%

PAT 169 73

PATAMI 176 74

Margin % 14% 7%

Normalised PATAMI 184 107

Margin % 15% 10%

NB

(1) Depreciation and amortisation excludes

the amortisation of film library and

programme rights which is expensed as

part of content costs (cost of sales)

(2) Normalised PATAMI excludes post-tax

impact of unrealised forex gain/(loss) YTD

FY21: (RM 33mn), YTD FY20: (RM 8mn) due

to mark-to-market revaluation of

transponder-related lease liabilities

(3) Numbers may not add up due to rounding

differences(2)

(1)

PAT reconciliation


(RM mn) FY20 1Q FY21

Non-current assets 4,455 4,391

Property, plant and equipment and

right–of-use assets2,036 1,931

Other non-current assets 2,419 2,460

Current assets 1,743 1,769

Receivables and contract assets 678 560

Cash and bank balances(1) 985 1,072

Other current assets 80 137

6,198 6,161

(RM mn) FY20 1Q FY21

Non-current liabilities 3,455 3,442

Payables 319 280

Borrowings 3,043 3,069

Other non-current liabilities 93 93

Current liabilities 1,805 1,756

Payables and contract liabilities 1,278 1,235

Borrowings 479 500

Other current liabilities 48 21

Shareholders’ equity 939 962

6,198 6,161

Net debt / LTM EBITDA: 1.6x (1QFY20: 1.8x)

NB

(1) Includes money market unit trusts


Balance sheet overview


1,530

615

304

794

326

1Q FY21

Total borrowings:

RM3,569mn*

Debt profile

RM term loan

Lease

Liabilities (primarily satellite

transponders)

▪ As at 30 April 2020, outstanding principal stood at USD74.25mn.

▪ First drawdown date was on 8 June 2011, amortised repayment schedule with final maturity date on 8 June

2021. Average life: 7 years.

▪ Fully hedged via cross currency interest rate swap at an exchange rate of USD/RM3.0189 and an all-in interest

rate of 4.19% p.a.

▪ The fourteenth principal repayment of USD24.75mn (RM74.72mn) paid on 9 June 2020 and next repayment (of

the same amount) will be paid on 8 December 2020.

▪ As at 30 April 2020, total outstanding principal stood at RM792.5mn.

▪ A total of RM112.5mn out of the RM792.5mn has amortised repayment schedule with final maturity date on 19

May 2021(Average life: 7 years), at a floating rate (based on cost of funds) of 4.83% p.a. The fourteenth

principal repayment of RM37.5mn paid on 19 May 2020 and next repayment (of the same amount) will be paid

on 19 November 2020.

▪ Lease liabilities related to lease of Ku-band transponders on MEASAT-3, MEASAT-3A and MEASAT-3B. Payment

arrangement for the remaining contractual years for M3 and M3A have been redenominated into Ringgit at

USD/RM3.0445 w.e.f. 21 May 2013. The unhedged portion of the lease liabilities related to M3B is USD169.4mn.

▪ Effective interest rate: 6.2%, 4.6%, 12.5% and 5.6% p.a. for M3, M3-T11, M3A and M3B respectively, average

life: 15 years.

Unrated MTN

▪ The first series of notes under the unrated medium-term notes (MTN) programme of up to RM3.0bn in nominal

value of up to 15-year tenor was issued on 10 August 2017. The issuance was for RM300mn with a 5-year tenor

at fixed rate of 5.30% p.a. with semi-annual coupon payment.

▪ Bullet repayment on 10 August 2022.

Synthetic

Foreign

Currency

Loan (SFCL)

▪ The USD150mn SFCL facility of 4 years 11 months tenor amounted to RM612.7mn upon conversion at the

agreed exchange rate of USD/RM4.0850.

▪ Drawn in 2 tranches of RM306.4mn each on 29 December 2017 and 28 February 2018 respectively, at a fixed

rate of 4.80% p.a. with quarterly interest payment.

▪ Bullet repayment on 29 November 2022.

USD term loan

▪ The RM380mn is a term loan facility with a 5-year tenor secured and fully drawn down on 23 August 2018, at a

fixed rate of 5.18% p.a. with quarterly interest payment. Repayment will be in 2 tranches i.e. RM50mn on 23

February 2023 and RM330mn on 23 August 2023.

▪ The balance RM300mn is a term loan with a 5-year tenor secured on 28 December 2018.

▪ Drawn down in 2 tranches of RM50mn on 28 March 2019 and RM250mn on 28 June 2019. Floating rate facility

(based on cost of funds) of 4.27% p.a. as at 30 April 2020, with quarterly interest payment. Repayment will

be in 5 equal semi-annual installments, commencing 36 months from the first drawdown i.e. 28 March 2022.

*Includes accrued interest of RM15.5mn

and net of debt issuance costs of

RM4.11mn. USD term loan converted at

quarter end rate of USD/ 4.3457


Thank you

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1st Quarter FY21 Results - static02.astro.com.my › astrocorporate › media › docs › 1qfy2… · (1) Advertising income is net of commissions and discounts (2) YTD growth refers