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Astro eyes acquisition in India, posts strong Q2 net profit
MUMBAI: Astro All Asia Networks Plc has identified India and China as its potential high-growth markets. And the route it wants to take is equity participation in local ventures.
“We intend to invest and grow our multi-media distribution platforms and content assets — particularly in the key Bahasa, Indian, and Chinese language speaking markets where we hope to consummate joint-ventures with key players across the region in the coming months. We are confident that these major investments, underpinned by our strong balance sheet and robust cash flows from our Malaysian operations, will secure our long term future, and importantly, sustain revenues, profitability and cash flow growth for shareholders in the medium and long term,” Astro Group chief executive officier Ralph Marshall wrote yesterday to the company’s shareholders.
The company is scouting for equity participation in joint venture with local partners in these large under-penetrated markets, Marshall said. In India, Astro has, along with NDTV and infotech company Value Labs, already bought out Radio Today’s FM radio operations under Red FM brand.
“Following liberalisation of the radio sector by the Indian Government, we are hopeful of making new investments and thereby participate in further growth of the radio broadcasting sector in the country,” Marshall said.
In China, an Astro joint venture has secured approval and a 25-year licence to offer advertising services in the country. The joint-venture, with Hangzhou-based Tiansheng Culture Media Ltd, will initially provide marketing and airtime management services to seven radio stations in Zhejiang Province, and subsequently expand its services to other media companies, particularly in the TV broadcasting segment, in other territories across China.
Astro, meanwhile, has reported a 66 per cent increase in net profit to RM 73.04 million for its second quarter ended 31 July 2006, from RM 44 million a year ago. This was on back of the Fifa World Cup and a strong demand for its pay-TV and advertising services in the period, the company said.
Revenue rose 14 per cent to RM 569.08 million from RM 499.32 million while earnings per share was 3.79 sen from 2.29 sen.
During the period under review, the Group has generated free cash of RM 162.6 million. “Taking advantage of the strong financial position, the Group repaid most of its bank borrowings in January this year, and secured access to fresh long-term capital funds totalling USD 300 million on more attractive terms,” Astro said in a release.
Having recently launched seven channels, Astro plans to add more and has RM 2 billion to fund its expansion plans.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
