KUALA LUMPUR, Oct 23 (Bernama) -- Astro Malaysia Holdings Bhd’s wholly owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd (MBNS), has entered into a conditional sale and purchase agreement (SPA) with Maxis Broadband Sdn Bhd to dispose of its broadband business assets for RM83 million.
Business : Astro Malaysia To Dispose Of Broadband Business Assets For RM83 Mln
Astro Malaysia, MEASAT Broadcast Network Systems,
BE Bernama 
Key points
- The integrated media and entertainment group said the disposal is deemed to be a related party transaction (RPT) in view of the interests of the interested directors, major shareholders and persons connected with them.
- Astro Malaysia said the proposed disposal provides the group with an opportunity to monetise and realise the value of the assets whilst reducing its exposure to the operational and commercial risks associated with operating a retail broadband business.
- “Furthermore, the proposed disposal will not have any effect on the share capital of Astro and the shareholding of the substantial shareholders of the company as it does not involve any issuance of shares in the group,” it added.
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