KUALA LUMPUR, June 21 — Astro Malaysia Holdings Bhd’s net profit for the first quarter ended April 30, 2022 decreased to RM100.02 million from RM141.25 million recorded in the same quarter last year.
Revenue slipped to RM962.09 million from RM1.06 billion previously, the group said in a filing with Bursa Malaysia today.
It said the lower revenue was mainly arising from the decrease in subscription revenue and merchandise sales, offset by an increase in advertising revenue.
Moving forward, its group chief executive officer Henry Tan said the group will continue to invest in its transformation plans, in particular content, broadband, streaming, customer experience, data, addressable advertising and technology infrastructure to simplify its processes and most importantly, to better serve customers.
“The Copyright (Amendment) Act 2022, which was gazetted in February 2022, is a major step forward in addressing digital piracy, resulting in criminalisation of the sale of illegal streaming devices (ISD); and the distribution or sharing of unauthorised copyright content through applications, websites, and hyperlinks by any party through messaging applications or social media platforms,” he said.
Meanwhile, Astro has announced that Tunku Ali Redhauddin Tuanku Muhriz who currently serves as independent non-executive director on the board will succeed Tun Zaki Azmi as the new chairman of Astro effective June 23, 2022.
Currently, he is also the chairman of Bumi Armada Bhd and Taliworks Corporation Bhd and also sits on the boards of Bangkok Bank Bhd and Sun Life Malaysia Assurance Bhd. — Bernama
