KUALA LUMPUR (July 17): Astro Malaysia Holdings Bhd (KL:ASTRO) is selling a 4.5-acre freehold commercial land in Cyberjaya for RM92 million.
The pay-television operator said its unit, MEASAT Broadcast Network Systems Sdn Bhd, is selling the land which houses a six-storey technical building and ancillary buildings to AIMS Central Sdn Bhd.
AIMS, a wholly owned subsidiary of AIMS Data Centre Holding Sdn Bhd, is principally involved in information services and operation of data networks.
The disposal price represents a premium of about 31.22% over the independent valuation of RM85 million as at March 2 and significantly exceeds the net book value of RM53.78 million as at Jan 31, said Astro in a bourse filing on Friday.
Astro said the Property is currently untenanted, and the disposal will enable the group to realise the value of the non-core asset.
The disposal, it said, is expected to contribute positively to its earnings and net assets for the current financial year ending Jan 31, 2027.
Astro said the net proceeds of RM85.7 million generated will be used for the group’s working capital and other corporate purposes.
For the first quarter ended April 30, 2026, Astro's net profit plunged 88% to RM1.56 million from RM13.48 million a year earlier. The group was in the black only because of a tax credit of RM4.5 million, having already recorded a loss before tax during the quarter. Revenue was down 6.2% year-on-year to RM659.62 million mainly due to lower subscription income.
As at market close on Friday, Astro shares were unchanged at 6.5 sen, valuing the group at RM339.7 million.