Equity Analysis /

MY : Astro Malaysia - Never underestimate this nimble giant

    1 April 2022
    Published byCGS-CIMB

    Astro Malaysia’s FY1/22 core net profit was slightly above our expectation, thanks to a lower effective tax rate and overall operating costs. The group tried to temper expectations of a marked yoy earnings recovery in FY1/23F, since the socio-economic landscape is still on the mend. However, we are of the view that Astro’s strategy of bringing in more streaming services could lure cord-cutters back to the fold.