KUALA LUMPUR: Astro Malaysia Holdings Bhd’s wholly-owned subsidiary, Measat Broadcast Network Systems Sdn Bhd, has accepted a loan of RM613 million from the Bank of Tokyo-Mitsubishi UFJ (Malaysia) Bhd.
In a filing to Bursa Malaysia today, the company said it anticipated drawdowns will occur in two tranches during the fourth and first quarters of the financial years ending Jan 31, 2018 and Jan 31, 2019 respectively.
“The board, after having considered all aspects of the facility, is of the opinion that it will facilitate the group’s borrowings to be managed efficiently due to the attractive pricing, tenure and ringgit settlement currency,” it said.
The loan is to finance the costs relating to the production, purchase and licensing of content, programme or channels, finance the purchase of set-top boxes, including the settlement of vendor financing. It will also finance capital expenditure, including, assets acquisition for broadcast and transmission and acquisition of software and platforms.