Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>  Daily News  >>  Malaysia News  >>  Companies  >>  Malaysia’s Astro up stake in India’s radio station

NEWS UPDATES 4 August 2009

Malaysia’s Astro up stake in India’s radio station

Related Stories
July 31, 2009
Malaysia’s Petronas acquires Dow’s stake in Optimal

July 30, 2009
Malaysia’s Nissan distributor plans to raise market share

July 28, 2009
Malaysian govt rejects AirAsia X flights to Sydney and Seoul

July 25, 2009
Malaysia's Maxis may return to bourse by year end

Malaysia’s Astro All Asia Networks PLC has increased its stake in India-based South Asia FM Ltd (SAFL) to 20 percent from 6.98 percent for a consideration of 60.55 million ringgit as it believes there is potential to grow its radio advertising there, a Malaysia business daily reported.

As at end-2008, the Indian radio advertising market size stood at 8.4 billion rupees (643.44 million ringgit), it said, adding that by 2013 the market size was expected to reach 16.3 billion rupees.

“The size of the radio advertising market as a percentage of the total advertising market in India is still relatively low at 4 percent when compared with the global average of 8 percent.

“Therefore, there is potential for the radio advertising to grow in the future,” Astro told Bursa Malaysia (Malaysia’s stock exchange) Monday. It also said the Indian radio landscape was expected to undergo positive developments.

The acquisition was undertaken via the company’s wholly-owned subsidiary, South Asia Multimedia Technologies Ltd. The exercise comprised the acquisition of 13.83 million existing SAFL shares from AH Multisoft at par for 10.59 million ringgit.

It also subscribed for 43.9 million compulsorily convertible preference shares in SAFL for 33.62 million ringgit, with the remaining stake acquired from other shareholders.


 


Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below 
Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com