1st Quarter FY21 Results
18 June 2020 Disclaimer
This document contains certain forward-looking statements with respect to Astro Malaysia Holdings Berhad’s (“Astro”) financial condition, results of operations and business, and management’s strategy, plans and objectives for Astro. These statements include, without limitation, those that express forecasts, expectations and projections such as forecasts, expectations and projections in relation to new products and services, revenue, profit, cash flow, operational metrics etc. These statements (and all other forward-looking statements contained in this document) are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Astro’s control, are difficult to predict and could cause actual results to differ materially from those expressed or implied or forecast in the forward-looking statements. These factors include, but are not limited to, the fact that Astro operates in a competitive environment that is subject to rapid change, the effects of laws and government regulation upon Astro’s activities, its reliance on technology which is subject to risk of failure, change and development, the fact that Astro is reliant on encryption and other technologies to restrict unauthorised access to its services, failure of key suppliers, risks inherent in the implementation of large-scale capital expenditure projects, and the fact that Astro relies on intellectual property and proprietary rights which may not be adequately protected under current laws or which may be subject to unauthorised use. All forward-looking statements in this presentation are based on information known to Astro on the date hereof. Astro undertakes no obligation publicly to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This presentation has been prepared by Astro. The information in this presentation, including forward-looking statements, has not been independently verified. Without limiting any of the foregoing in this disclaimer, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of such information. Astro and its subsidiaries, affiliates, representatives and advisers shall have no liability whatsoever (whether in negligence or otherwise) for any loss, damage, costs or expenses howsoever arising out of or in connection with this presentation.
1 | 1Q FY21 results 1Q FY21 key performance highlights
Year-on-year financial highlights 1Q FY20 1Q FY21
Revenue EBITDA RM444mn → RM330mn RM1.23bn → RM1.05bn EBITDA margin of 31%
Adex Normalised PATAMI (1) RM145mn → RM90mn RM184mn → RM107mn Resilient adex share for TV, Radio and Digital Normalised PATAMI margin of 10%
Commerce FCF of RM323mn
RM84mn→ RM95mn 438% of PATAMI, Increasing sales amid soft market 1.0sen dividend declared
NB: 2 | 1Q FY21 results (1) Normalised PATAMI excludes post-tax impact unrealised forex gain/(loss) 1Q FY21: (RM 33mn), 1Q FY20: (RM 8mn) due to mark-to- market revaluation of transponder-related lease liabilities FY21 year to date overview
Steady engagement across TV, radio and digital… NB 1Q FY20 1Q FY21 Change (1) TV household data sourced from the Department of Total TV households in Malaysia (000s)(1) 7,470 7,589 2% Statistics Malaysia and Media Partners Asia (2) (2) Household penetration comprises residential Pay-TV TV household penetration 77% 75% -2 p.p. customers and NJOI customers TV customer base (000s) 5,711 5,680 -1% (3) Viewership share is based on DTAM deployed by Kantar Pay TV ARPU (RM) Media DTAM 100.4 99.1 -1% (4) Audience measurement is based on GfK Astro TV viewership share(3) 73% 74% 1 p.p. (5) Digital monthly unique visitors (“MUV”) to Astro’s digital Radio listenership (mn) (4) 16.7 16.9 1% brands, averaged over the last 12 months as sourced from comScore (5) Digital MUV (mn) 9.3 12.3 32% (6) Connected set-top boxes (STBs) are internet-ready with Connected STBs (000s) (6) 1,024 1,003 -2% recording functionality and have access to Astro’s On Demand library of content (7) Normalised PATAMI excludes post-tax impact of unrealised … underpinning resilient performance forex gain/(loss) YTD FY21: (RM 33mn), YTD FY20: (RM 8mn) due to mark-to-market revaluation of transponder-related 1Q FY20 1Q FY21 Change lease liabilities (8) Numbers may not add up due to rounding differences Revenue (RM mn) 1,234 1,053 -15% Adex (RM mn) 145 90 -38% EBITDA (RM mn) 444 330 -26% EBITDA margin 36% 31% -5 p.p. Normalised PATAMI (RM mn) (7) 184 107 -42% FCF (RM mn) 252 323 28% EPS (RM sen) 3.4 1.4 -58%
3 | 1Q FY21 results Easing the stay@home experience for Malaysians
Doing our part for the community during MCO and CMCO • 3,000 hours of PSAs airtime allocated across Astro channels • Produced 106 Public Service Announcements (PSAs) and carried 18 government PSAs across 4 languages
Easing Malaysians’ stay@home during MCO and CMCO • Round the clock news coverage on the COVID-19 pandemic • Assisting the government to disseminate important updates • Complimentary viewing of News, • Complimentary access to 24 and discredit false news Learning, Asian Movies and Stay channels and 13,000 On Demand Home Concert channels titles on Astro GO for all Malaysians • Aired over 128,000 PSAs across • Complimentary viewing of all all stations channels* for Sports Pack customers • Complimentary viewing of KIX, • RM40 special rebate over the Nat Geo Wild, Celestial Movies • Featured over 2,000 community next two bills for Sports Pack and Cartoon Network channels articles across digital brands customers
4 | 1Q FY21 results NB * For residential customers only, excludes Pay Per View movies and events Business impact of COVID-19 and MCO
Business impact Our response
• Deferment/cancellation of key sporting and • Launched new channels and new content formats live events globally • Sports Packs rebate • Productions with live audiences not allowed • Premiering local movies directly to home cinemas • Cinemas closed Content
• No new installations allowed (Pay-TV,NJOI • Installations resumed during CMCO and broadband) • To alleviate customers’ financial burden, temporarily • Package upsell impacted due to suspended disconnections and offered flexible complimentary viewing offered subscription and payment plans to eligible customers • Actively engaging residential and commercial TV customers to manage receivables • Raised provisions for doubtful debt
• Advertisers pull back on advertising spends • Integrating TV, radio and digital team to provide • No shooting of new commercials total advertising solutions to clients • New ad formats introduced
Adex
• Supply chain disruptions • Expanded offerings to include fresh and frozen • Cancellation/reduced frequency of live shows food, fruits and ready meal options and health- related products • Daily social media live streams Commerce
5 | 1Q FY21 results Entertainment destination for Malaysians
TV CONTENT DIGITAL RADIO COMMERCE
Digital Brands Radio Brands
• Leading content • Largest Pay-TV • 12.3mn digital MUV • 11 radio brands • 24/7 multilanguage creator, producer & operator in SEA across over • #1 in every language- shopping experience aggregator • Serving 5.7mn 25 digital brands English, Malay, • Multiplatform: TV & • Produced and households • Gempak is the #1 Chinese, Tamil ECMC commissioned 11,300 • 75% household Malaysian digital • 16.9mn weekly • 2.4mn registered hours of homegrown penetration entertainment listeners & 3.0mn customers content in FY20 • 39% TV adex share brand monthly digital radio • Rich On Demand library • 1mn connected STBs • 2% digital adex share users of over 51,000 titles • 84% radex share
6 | 1Q FY21 results NB: Connected set-top boxes (STBs) are internet-ready with recording functionality and have access to Astro’s On Demand library of content Gateway to homes and individuals Strategy Assets Products Key Focus Areas
Pay-TV: Protect Premium Pay • Reinvigorate customer experience • 75% household penetration • Refresh content • Reset customer service • 5.7mn households • Reward customers • 1mn connected STBs NJOI: Win remaining market • 11,300 hours of content • Ease prepaid path to purchase produced in FY20 • Increase content choices
• 35mn On Demand shows Deepening Home streamed in Q1 FY21 Broadband: Connectivity for homes engagement • Drive broadband penetration
• 2.8mn Astro GO registered Streaming Services: Activating partnerships • Astro GO enhancement users • Standalone OTT offerings • 12.3mn digital MUV • 16.9mn weekly radio listeners Radio and digital: Engaging customers • Leverage record listenership • 3.0mn monthly digital radio • Digitalising terrestrial radio users • Growing digital brands
• 2.4mn registered Go Shop Commerce: Redefine home shopping Broadening reach customers to Individuals • Content differentiation • Harness production capabilities • Diversify and deepen product portfolio 7 | 1Q FY21 results YTD FY21 Progress report Pay TV NJOI Broadband Streaming Services Radio & Digital Brands Commerce Reinvigorate ✓ Added new a-la- ✓Launched content- ✓ Launched HBO GO ✓ Launch BONDHU, a ✓ Expanded product Customer carte channels and broadband bundle standalone 24-hour digital radio offerings to include Experience packs for purchase with Allo in Alor subscription to all app serving the fresh food and more ✓ Complimentary Gajah and Cyberjaya Malaysians Bangladeshi health related viewing of ✓ 60 prepaid channels community in products to meet selected channels offered for purchase ✓ Expanded 4K UHD ✓ Complimentary Malaysia rising demand during MCO and Ultra Box to IPTV access to selected CMCO ✓ Complimentary customers content on Astro GO ✓ Launched Ramadhan ✓ Rebate for viewing of four for all Malaysians e-Bazaar, to assist Sports Pack premium channels during MCO and SMEs in marketing customers during MCO and CMCO their goods during CMCO Ramadhan Refresh Content ✓ Activating home ✓ Launched special cinemas and edition channel - premiered first Ramadan & Raya run movies on Edisi Khas in Astro First conjunction with Raya 2020 ✓ Launched new channels Astro Rania and Astro Aura offering up to 480 hours of fresh content monthly Reward Customers ✓ Ongoing privileges for customers
Please refer to slide: Please refer to slide: Please refer to slide: Please refer to slide: Please refer to slide: Please refer to slide: #17 to #19 & #21 #22 #20 to #21 #23 #24 to #25 #26 8 Jump in reach and engagement seen in 1Q FY21
TV Viewership Share (1) Avg. Daily Viewers (mn) Avg. Time Spent/Day (hrs) 11.5% 4.1% 10.3% 2.2% 26% 12.3 12.8 3:43 74% 3:20 6.8 7.5 2:14 2:11 NB: YTD FY20 YTD FY21 YTD FY20 YTD FY21 (1) Target Audience: Kantar Media, Dynamic TV Audience Measurement (DTAM). All Astro (2)(3) Total Connected STBs On Demand Shows Streamed (mn) Avg. Weekly Viewing (mins) Pay-TV viewers (’000) (2) Cumulative since inception 15% (3) Connected set-top boxes (STBs) 119% are internet-ready with 2% recording functionality and have access to Astro’s On Demand library of content 1,024 1,003 35 482 556 (4) Source: App Annie as at 30 Apr 16 2020 at device level On Demand (5) Pay-TV customers who have linked their account to Astro YTD FY20 YTD FY21 1Q FY20 1Q FY21 1Q FY20 1Q FY21 GO for seamless viewing
Linked Customers (5) (’000) Monthly Active Users (4) (’000) Avg. Weekly Viewing (mins) 31% 20% 12%
900 1,186 191 748 907 171
YTD FY20 YTD FY21 1Q FY20 1Q FY21 1Q FY20 1Q FY21 9 | 1Q FY21 results Vernacular content underpins viewership share
(1) (2) 1Q FY21 TV Viewership Share Key Malay language IPs 204 channels
74 Astro-branded Sepahtu Reunion BOBOIBOY channels Dansa Dan LIVE 2020 Vernacular MOVIE 2 Sing 106 content TV viewership HD channels FTA Astro 57% 2.5mn 1.3mn 1.2mn 26% 74% 3 Key non-Malay language IPs Ultra HD channels
Others 43% 28 Evening Edition 2000 Prime Venpa free channels Talk TV viewership >60 526k 507k 368k prepaid channels
NB 10 | 1Q FY21 results (1) Number of channels as at 1Q FY21 (2) Target Audience: Kantar Media, Dynamic TV Audience Measurement (DTAM). All Astro Pay-TV viewers Revenue impacted by challenging conditions
Total revenue (RM mn) 2,000 120
1,800 110 100.40 100.00 99.90 100.00 99.10 100 YTD Growth (2) 1,600 GoShop (14%) 90 1,400 1,234 1,236 1,215 1,226 Adex (-38%) 80 1,200 84 91 93 100 1,053 70 Subscriptions/ 145 158 Others (-14%)(1) 1,000 167 172 95 90 60 ARPU (-1%) 800 (1) 50
600 1,005 987 955 953 868 40
400 30
200 20 1Q FY20 2Q FY20 3Q FY20 4Q FY20 1Q FY21
NB (1) Disclosed as Subscription revenue and Other revenue in our financial statements, includes revenue streams such as TV subscription, licensing income, programme sales, NJOI revenue and theatrical revenue 11 | 1Q FY21 results (2) YTD refers to 3 months ended 30 April (3) Numbers may not add up due to rounding differences Suppressed adex due to weak consumer sentiment
(1) (2) Advertising income (RM mn) YTD growth Share of digital adex Digital MUV (mn) TV Radio Digital Total Total Malaysia gross ADEX YTD growth (2)(5) 3% 2% 9.3 12.3
OVERALL ADEX YTD FY20 YTD FY21 YTD FY20 YTD FY21 -38% Share of radex (3) 172 -14% Radio listeners (mn) 167 158 12 16 145 12 9 -11% DIGITAL 24% 67 80% 84% 16.7 16.9 60 72 56 90 YTD FY20 YTD FY21 YTD FY20 YTD FY21 8 RADIO -41% (4) -41% Share of TV adex TV viewership share 33 77%
80 86 88 84 49 -39% TV -30% 47% 39% 73% 74%
1Q FY20 2Q FY20 3Q FY20 4Q FY20 1Q FY21 YTD FY20 YTD FY21 YTD FY20 YTD FY21 NB (1) Advertising income is net of commissions and discounts (2) YTD growth refers to 3 months ended 30 April (3) Audience measurement is provided by GfK. Share of radex is based on Astro and IPG’s estimates (with Nielsen gross adex as base) (4) Viewership share is based on DTAM deployed by Kantar. Share of TV adex is based on Astro and IPG’s estimates (with Nielsen gross adex as base) (5) Malaysia gross adex figures (covering TV, print, radio, cinema, in store media, outdoor and digital) are based on Nielsen gross adex and IPG’s estimates 12 | 1Q FY21 results (6) Numbers may not add up due to rounding differences Relentless focus on operational efficiencies
Total cost (RM mn)
50% 38% 36% 35% 40% EBITDA margin 31% 31% 2000 30%
20% Content cost/TV 1500 31% 35% 32% 36% 34% revenue 10%
0% 952 971 1,001 1000 927 868 -10% Other expenses 626 -20% 609 596 586 559 500 -30%
Content costs -40% 343 375 341 375 309 0 -50% 1Q FY20 2Q FY20 3Q FY20 4Q FY20 1Q FY21
NB (1) Content costs are disclosed as part of cost of sales in our financial statements (2) Other expenses include marketing and distribution costs, administrative expenses, STB installation and smartcard costs, depreciation and 13 | 1Q FY21 results amortisation, as well as maintenance costs (3) Numbers may not add up due to rounding differences Disciplined capex spend
Cash capex (RM mn) Set-top box (STB) capex (RM mn)
as % of 3% 3% as % of 2% 1% revenue revenue
35 22 28 10
YTD FY20 YTD FY21 YTD FY20 YTD FY21
Key capex investments in FY21 include: ▪ STBs/ODUs are owned by Astro, and are capitalised ▪ Technology infrastructure across linear, VOD, OTT & ▪ STBs/ODUs are conservatively amortised over 3 years; digital note that actual useful life is typically greater than 5 ▪ Customer experience years ▪ Product and service upgrading ▪ Discretionary 36 month bullet payment vendor financing is available for Astro for STB/ODU purchases ▪ RM500mn of vendor financing recorded in payables, of which RM220mn is current and RM280mn is non-current
NB 14 | 1Q FY21 results (1) Numbers may not add up due to rounding differences Strong cash generation capabilities
Free cash flow (RM mn)
as % of PATAMI 143% 438%
106 86
409 358 323 252
(1) (1) (2) Cash from Cash from Free cash flow (2) Cash from Cash from Free cash flow operations investing operations investing
YTD FY20 YTD FY21
…enabling significant flexibility on capital management and dividend policy
NB (1) Excludes investments, disposals and maturities of unit trust and money market funds (2) Excludes repayments of vendor financing and payments of finance leases, which are categorised as cash from financing for consistency 15 | 1Q FY21 results with Bursa disclosure (3) Numbers may not add up due to rounding differences Quarterly dividend announcement
▪ Leveraging on invested capital, AMH continues to be highly cash generative
▪ The Board of Directors of AMH has declared a quarterly dividend of 1.0 sen per share for 1Q FY21
▪ Quarterly dividend entitlement and payment dates 3 July 2020 and 17 July 2020 respectively
16 | 1Q FY21 results Gamechanger: Movies premiere direct to homes
First-run movies on Astro First
• With cinemas closed nationwide, local producers are premiering their movies directly to homes via Astro First, our pay-per-view home cinema channel
• Bypassing theatrical releases, Manap Karaoke was the first Malaysian film to premiere directly to homes, grossing RM1.1mn to date
• Syif Malam Raya grossed RM3.7mn to date, placing it among the highest grossing local films in 2020
• Romance drama Ada Apa Dengan Dosa premiered on June 4, grossing over RM300k to date and horror film Town Mall will be coming soon Grossing over Grossing over Grossing over Coming RM 1.1mn RM 3.7mn RM 300k Soon and counting and counting and counting
17 | 1Q FY21 results Content: Live sports returns
Football Basketball Mixed Martial Arts Baseball
LIVE Returning LIVE LIVE 8 May 2020 July 2020 9 May 2020 Game now on
LIVE 16 May 2020 Golf eSports Motorsports
LIVE LIVE LIVE LIVE 12 June 2020 11 June 2020 Game now on Game now on
LIVE Returning LIVE Returning 18 June 2020 23 July 2020 Game now on 5 July 2020
Season to complete Returning by August 2020 30 July 2020
18 | 1Q FY21 results Content: Premiering new channels on
Bringing the newest and best of Indonesian Introducing three new Tamil HD channels entertainment to Malaysians
• In partnership with EMTEK Group, Indonesia’s largest • Rajinikanth fans can catch 70 movies starring the media conglomerate legendary superstar on Rajini70 HD (Ch 100) channel, available until 30 June • Up to 480 hours of fresh content monthly • Fans can enjoy more local Tamil content including • Showcasing the best of Indonesian entertainment for new series on Astro Vaanavil HD (Ch 201) and top- families, music and dangdut lovers ranked Tamil shows on Zee Tamil HD (Ch 235)
19 | 1Q FY21 results Broadband: Connectivity beyond urban areas
Direct-To -Home (DTH) IPTV Expanding broadband beyond urban areas Delivery of content through Delivery of content through • Expanded content-broadband bundles offerings to serve satellite Internet Protocol suburban areas through our partnership with Allo
In partnership with: In partnership with: • Allo plans to expand fibre footprint across Melaka, Perak, Johor, Kedah, Selangor and Pulau Pinang, targeting 150,000 home-passes by 2022 Speeds up to 1 Gbps Speeds up to 100 Mbps
20 | 1Q FY21 results Ultra Box: Extending the experience to IPTV
Discover the new Astro Experience
New Home Screen Play From Start Everything you see is yours Missed the start? Just restart
Discover VOD Search 51,000 videos on demand Search faster and easier
4K UHD Multi-Screen Crystal clear picture Stream seamlessly across any quality, 4x clearer than HD device
Cloud Recording Stop Here, Continue There Ultra Box is now available on IPTV Record all the programmes Stop on one screen and continue you want at the same time on another device • Available to IPTV customers with speeds of 30Mbps and above
• Enjoy seamless and unified interface across both Ultra Box and Astro GO
21 | 1Q FY21 results NJOI: Content buys up 20% during MCO 28 free TV channels Top-up at your convenience 20 free radio channels Supermarket e-pay Ch 200 Online kiosk banking >60 prepaid channels for purchase Whatsapp Boost Shopee
New ala-carte channels and packs for purchase
22 | 1Q FY21 results Streaming Services: Forging streaming partnerships
1.2mn 1.0mn 1.1mn (1) monthly active users shows streamed app downloads • Seamless and unified interface • Over 4,000 hours of premium • iQIYI’s 1st App partner outside across both Ultra Box and Astro GO content featuring HBO Originals, China Hollywood blockbusters, • Access to On Demand library with documentaries, stand-up comedies, • Exclusive rights to deliver iQIYI over 51,000 titles from Hollywood, kids content and more content on TV, On Demand and Korea, Japan, China, Hong Kong, Streaming services to Malaysians India, Sports, blockbusters, kids • Complimentary for Movies Pack and popular local vernacular customers and available as add-on • App features Astro originals- programmes by other Astro customers increasing visibility of local content and talent globally • Stream on 4 devices simultaneously • Also available to all Malaysians as a anytime, anywhere standalone subscription
23 | 1Q FY21 results NB (1) Source: App Annie as at 30 Apr 2020 Radio: Leadership through our 11 radio brands
• Gfk survey during MCO period shows 97% of radio listeners continue to listen to radio • People rely on radio for up-to-date news, music, entertainment and companionship
• Launched BONDHU in April 2020 in collaboration with Radio Today, Bangladeshi radio and digital #1 16.9m 16m audio content provider (2) In every language Weekly listeners Monthly Digital Streams • First-ever 24-hour digital radio app serving the Bangladeshi community in Malaysia featuring music, PSAs and specially curated Bengali content 84% 3.0m 318k including latest news from Malaysia and Bangladesh monthly digital Monthly Active Radex share radio users (3) Users • Offering advertising and sponsorship opportunities for local businesses to reach and engage over 700,000 individuals online NB 24 | 1Q FY21 results (1) Based on an online study conducted by Gfk of people aged 15 to 49 in Peninsular Malaysia from 3 May to 10 May 2020 (2) Audience measurement is based on GfK (3) Based on average three months (Feb 2020 - Apr 2020), Radio Active, Google Analytics Digital: Building a loyal vernacular fanbase
Entertainment News
4.2mn 0.9mn 0.8mn 8.2mn 0.6mn Digital MUVs Digital MUVs Digital MUVs Digital MUVs Digital MUVs
Malaysia’s Fastest No.1 No.1 No.1 Most Trusted growing Malaysian digital Malaysian Chinese digital Malaysian Indian News Brand Chinese entertainment brand entertainment brand digital brand 2020 (1) news portal
25 | 1Q FY21 results NB (1) Annual Review of the Reuters Digital News Studies Institute 2020 (2) Source: Digital monthly unique visitors (“MUV”) to Astro’s digital brands, averaged over 3 months (Feb – Apr 2020) based on Google Analytics Commerce: Record RM40mn+ revenue in April
Revenue(1) (RM mn)
14%
95 84
YTD FY20 YTD FY21 Ramadan & Raya Edisi Khas channel Launched Ramadan e-Bazaar Special edition channel focusing on home Supporting over 100 local F&B and SME (2) improvement tips, muslimah fashion and businesses through Go Shop’s multiplatform Registered Customers (mn) cooking ideas from celebrity chefs reach 28% Leveraging social media Introducing fresh food options 2.4 Increasing digital reach and driving sales Offering fresh and frozen food, fruits and through daily live streams on Facebook ready meal options 1.8
www.goshop.com.my Available across and all platforms: Free-to-Air (“FTA”) YTD FY20 YTD FY21
NB 26 | 1Q FY21 results (1) Data presented for YTD FY21 ended 30 April (2) Cumulative as of 30 April Appendix PAT reconciliation
(RM mn) 1Q FY20 1Q FY21
EBITDA 444 330 Margin % 36% 31% (1) Depreciation and amortisation (159) (145) EBIT 285 186 Margin % 23% 18% Finance income 7 7 Finance cost (65) (96) PBT 227 97 NB Tax expense (57) (24) (1) Depreciation and amortisation excludes the amortisation of film library and Tax rate % 25% 25% programme rights which is expensed as PAT 169 73 part of content costs (cost of sales) (2) Normalised PATAMI excludes post-tax PATAMI 176 74 impact of unrealised forex gain/(loss) YTD FY21: (RM 33mn), YTD FY20: (RM 8mn) due Margin % 14% 7% to mark-to-market revaluation of transponder-related lease liabilities Normalised PATAMI 184 107 (3) Numbers may not add up due to rounding differences Margin % (2) 15% 10%
28 | 1Q FY21 results Balance sheet overview
(RM mn) FY20 1Q FY21 (RM mn) FY20 1Q FY21
Non-current assets 4,455 4,391 Non-current liabilities 3,455 3,442
Property, plant and equipment and 2,036 1,931 Payables 319 280 right–of-use assets
Other non-current assets 2,419 2,460 Borrowings 3,043 3,069
Other non-current liabilities 93 93
Current assets 1,743 1,769 Current liabilities 1,805 1,756
Receivables and contract assets 678 560 Payables and contract liabilities 1,278 1,235
Cash and bank balances(1) 985 1,072 Borrowings 479 500
Other current assets 80 137 Other current liabilities 48 21
Shareholders’ equity 939 962
6,198 6,161 6,198 6,161
Net debt / LTM EBITDA: 1.6x (1QFY20: 1.8x)
29 | 1Q FY21 results NB (1) Includes money market unit trusts (2) Numbers may not add up due to rounding differences ▪ As at 30 April 2020, outstanding principal stood at USD74.25mn. ▪ First drawdown date was on 8 June 2011, amortised repayment schedule with final maturity date on 8 June Debt profile 2021. Average life: 7 years. USD term loan ▪ Fully hedged via cross currency interest rate swap at an exchange rate of USD/RM3.0189 and an all-in interest rate of 4.19% p.a. ▪ The fourteenth principal repayment of USD24.75mn (RM74.72mn) paid on 9 June 2020 and next repayment (of Total borrowings: the same amount) will be paid on 8 December 2020. RM3,569mn* ▪ As at 30 April 2020, total outstanding principal stood at RM792.5mn. ▪ A total of RM112.5mn out of the RM792.5mn has amortised repayment schedule with final maturity date on 19 326 May 2021(Average life: 7 years), at a floating rate (based on cost of funds) of 4.83% p.a. The fourteenth principal repayment of RM37.5mn paid on 19 May 2020 and next repayment (of the same amount) will be paid on 19 November 2020. 794 ▪ The RM380mn is a term loan facility with a 5-year tenor secured and fully drawn down on 23 August 2018, at a RM term loan fixed rate of 5.18% p.a. with quarterly interest payment. Repayment will be in 2 tranches i.e. RM50mn on 23 February 2023 and RM330mn on 23 August 2023. 304 ▪ The balance RM300mn is a term loan with a 5-year tenor secured on 28 December 2018. ▪ Drawn down in 2 tranches of RM50mn on 28 March 2019 and RM250mn on 28 June 2019. Floating rate facility 615 (based on cost of funds) of 4.27% p.a. as at 30 April 2020, with quarterly interest payment. Repayment will be in 5 equal semi-annual installments, commencing 36 months from the first drawdown i.e. 28 March 2022.
▪ The first series of notes under the unrated medium-term notes (MTN) programme of up to RM3.0bn in nominal 1,530 value of up to 15-year tenor was issued on 10 August 2017. The issuance was for RM300mn with a 5-year tenor Unrated MTN at fixed rate of 5.30% p.a. with semi-annual coupon payment. ▪ Bullet repayment on 10 August 2022.
Synthetic ▪ The USD150mn SFCL facility of 4 years 11 months tenor amounted to RM612.7mn upon conversion at the 1Q FY21 Foreign agreed exchange rate of USD/RM4.0850. ▪ Drawn in 2 tranches of RM306.4mn each on 29 December 2017 and 28 February 2018 respectively, at a fixed Currency rate of 4.80% p.a. with quarterly interest payment. Loan (SFCL) ▪ Bullet repayment on 29 November 2022.
*Includes accrued interest of RM15.5mn ▪ Lease liabilities related to lease of Ku-band transponders on MEASAT-3, MEASAT-3A and MEASAT-3B. Payment and net of debt issuance costs of Lease arrangement for the remaining contractual years for M3 and M3A have been redenominated into Ringgit at RM4.11mn. USD term loan converted at Liabilities USD/RM3.0445 w.e.f. 21 May 2013. The unhedged portion of the lease liabilities related to M3B is USD169.4mn. quarter end rate of USD/ 4.3457 (primarily satellite ▪ Effective interest rate: 6.2%, 4.6%, 12.5% and 5.6% p.a. for M3, M3-T11, M3A and M3B respectively, average transponders) life: 15 years. 30 | 1Q FY21 results Thank you
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