Dear Shareholders,
On behalf of the Board of Directors, I am pleased to present the Integrated Annual Report of Astro Malaysia Holdings Berhad for the financial year under review. Within Malaysia, economic realities — including rising living costs and the ongoing rationalisation of subsidies — have reshaped household spending patterns and reinforced the importance of value-driven offerings. These developments underscore the broader responsibility of corporations to remain attuned to societal needs while delivering sustainable growth. Against this backdrop, we remained focused on providing strong stewardship to ensure that Astro continues to operate responsibly, strengthen its relevance amongst Malaysian households, and contribute meaningfully to the national media ecosystem.
YAM Tunku Ali Redhauddin Ibni Tuanku Muhriz
Chairman
Dear Shareholders,
The past year has been one of the most challenging periods the media and entertainment industry has faced in decades, and Astro has not been immune to these pressures. Globally, the pace of change has accelerated sharply. Audiences are fragmenting, digital adoption continues to reshape viewing habits, video piracy is rampant, whilst competition from global streaming platforms continues to intensify. At the same time, inflation, currency volatility, geopolitical tensions, and uncertain economic conditions have made planning and execution far more complex than in the past.
Closer to home, Malaysian households have come under heightened financial pressure. Rising living costs, electricity tariffs, fuel subsidy rationalisation, wage adjustments, and changes to taxes have materially affected discretionary spending. Entertainment is no longer an automatic purchase for many families. Customers are more selective, value driven, and willing to switch to “free” options. These realities have confirmed our long held belief that doing “more of the same” is not an option for Astro.
Euan Smith
Group Chief Executive Officer
We are the largest content creator in Malaysia. Our intellectual capital comprises content-related intellectual property (IP) rights (both owned and licensed), strong brand reputation, business processes, as well as systems, software, patents, trademarks, and proprietary information.
This consists of our proven capabilities to produce, aggregate, and distribute content across TV, radio, digital, cinema and at on-ground activations, leveraging our ready customer base and extensive market reach to Malaysian households, individuals and enterprises.
This comprises the collective knowledge, experience and expertise within our Group as we continue to nurture, hone and harness the diverse skill sets and expertise of Team Astro’s on- and off-screen talents while championing diversity and inclusion, creativity and accountability.
This consists of the pool of funding that our Group has access to, derived from our cash-generative business as well as access to institutional lenders and financial markets. This is prioritised towards reinvestments for future growth.
We establish strong relationships with our stakeholders, understanding and addressing their concerns in maintaining our social licence to operate. Our ESG efforts generate positive long-term impact for communities.
We are committed to be carbon neutral by 2040 and are executing our Climate Roadmap to decarbonise and lower Astro's carbon emissions, while actively pursuing Net Zero 2050. Mindful of our environmental footprint, we utilise natural resources responsibly through more sustainable business practices.
Produce, aggregate, distribute, and monetise content across all platforms focusing on the best of local vernaculars, live sports, kids, news, regional and international content
Leverage technology and data to deliver differentiated products and services to serve all customer segments catering to their diverse needs, preferences and spending propensities, and provide the best customer care
Create sustainable impact centred around Astro’s five ESG Pillars to address our material matters
Responsible Business
Caring for our Environment
Voice for Good
Education for All
Community Development
Growing our customer reach and content creation capabilities amid industry changes and ongoing acts of piracy for business sustainability
Delivering positive operational performance and rewarding shareholders
Contributing to Malaysia's economy and local media industry
Operating responsibly and contributing to the betterment of our talent, community and environment
Growing our customer reach and content creation capabilities amid industry changes and ongoing acts of piracy for business sustainability
Market Reach
5.2m
TV households
63%
Household penetration
16.2m
Weekly listeners on FM and online radio
144m
Total digital audience
9100
Enterprise customers
Delivering positive operational performance and rewarding shareholders
Financials
RM2.8b
Revenue
RM63m
PATAMI
RM459m
FCF
88%
FCF yield
2.9x
Net debt/EBITDA
Contributing to Malaysia's economy and local media industry
Government & Industry
RM323m
Corporate tax payment
RM1.1b
Payment to local vendors
Content
11,600 hours
Local content produced
RM370m
Local content investment
Operating responsibly and contributing to the betterment of our talent, community and environment
Talent
2,881
Employees
Community
13,881
Voice for Good hours
20,000
Volunteer hours since FY24
Environment
1,412 tCO2e
Carbon avoidance from renewables initiatives
6.8%
GHG emissions reduction (Scope 1 and 2) towards Carbon Neutral 2040
Content
Products
Cost Management
Sustainability
Our sustainability framework aligns Astro’s value creation model with the material matters that are of utmost importance to our stakeholders and business. It serves as a cornerstone for embedding sustainability throughout our operations, driving responsible growth while continuing to entertain, educate, inform, and inspire the communities we serve.
Strong governance is the foundation of responsible business conduct. Our comprehensive corporate governance framework is ensures compliance with applicable laws and regulations for effective risk management.
We remain committed to maintaining business integrity and transparency, promoting diversity and inclusion, ensuring workplace safety, and safeguarding cybersecurity and data privacy.
In our commitment to supporting a greener planet, we are committed to achieving carbon neutrality by 2040 and striving towards our Net Zero 2050 goal, in line with national aspirations. Our Climate Roadmap guides us in reducing our overall GHG emissions over the short-, medium-, and longer term.
We are focused on improving energy efficiency, increasing the use of renewable energy, and embedding sustainable practices throughout our operations.
Leveraging our position as Malaysia’s largest media and content powerhouse, we serve as a Voice for Good by airing PSA and ESG-related content across TV, radio, and digital platforms.
Through purposeful content and creative storytelling, we aim to deliver impactful messaging to influence and drive positivity within local communities that will drive changes nationally.
Education is fundamental to the long-term well-being of our future generations and the cornerstone of developing our nation. We leverage our key strength- content, to provide access to high quality education and supplementary learning materials, including sports curriculum and other aspects of youth development, which are particularly useful for students in remote communities.
We are committed to nurturing sustainable communities and creating a long-lasting impact on society. As part of this commitment, we provide emergency relief assistance to our community when needed. By being responsive and proactive, we aim to continue supporting and contributing to our community’s overall resilience and well-being.
Financial Year Ended 31 January
If you have any enquiries prior to the 14th AGM, please contact Boardroom Share Registrars Sdn Bhd during office hours from Monday to Friday (8.30 a.m. to 5.30 p.m.). Boardroom’s contact details are as follows:
+603 7890 4700 (Helpdesk)
+603 7890 4716 (En. Mohamed Sophiee bin Ahmad Nawawi)
+603 7890 4704 (Cik Nur Atiqah binti Mohd Arif)
Content
Products
Cost Management
Sustainability