KUALA LUMPUR, Sept 30 ― Astro Malaysia Holdings Bhd’s shares on Bursa Malaysia rose in the early trading session today following news of the collaboration between the group’s wholly-owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd (Astro) and Telekom Malaysia Bhd (TM).
At 10.11am, the counter added 1.0 sen to RM1.02 with 490,800 shares changing hands.
In a joint statement on Wednesday, it said the collaboration signifies both companies' commitment to support the “Jalinan Digital Negara” (Jendela) initiative in providing wider broadband coverage nationwide.
In a note today, AmBank Research said the collaboration offers Astro the opportunity to launch its own fibre broadband service competitively against both unifi and Maxis’ home fibre.
“For TM, Astro’s superior content offerings, which include local shows and options for over-the-top providers such as Netflix, Disney+Hotstar and Fox channels could drive the group’s wholesale data demand and support this segment’s upward revenue trajectory,” it said.
The research firm has also maintained its “buy” call on both Astro and TM with unchanged discounted cash flow (DCF)-based fair value of RM1.83 and RM7.10, respectively.
Meanwhile, TM’s shares were traded 6.0 sen lower at RM5.70 with 1.34 million shares transacted. ― Bernama
