KUALA LUMPUR, Oct 23 — 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.
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. “Barring unforeseen circumstances, the proposed disposal is expected to be completed by the second quarter of 2027,” it said in a stock exchange filing.
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.
