[ASTRO MALAYSIA HOLDINGS BHD，继续保持现金生成性，并将重点投资于其增长策略]

本季度（19财年第一季度）与同季度（18财年第一季度）相比：
EBITDA利润率与同季度相比增加了0.5％，主要是由于内容成本减少和应收账款减值转回，被商品销售成本，销售和分销费用，许可证和版权费，专业和咨询费用(占收入的百分比)所抵销。

本季度（19财年第一季度）与上一季度（18财年第四季度）相比：
EBITDA利润率较上一季度增加7.0％，主要是由于内容成本下降，应收账款减值拨回以及营销和分销支出占收入的百分比。

流动资产总值达22亿8,390万令吉，较二零一八年一月三十一日增加2.428亿令吉，主要由于其他投资于单位信托投资增加1.446亿令吉，现金及银行结余增加2.049亿令吉。现金及银行结余增加2.049亿令吉，主要由于经营活动产生的现金流及SFCL融资提取3.064亿令吉，并被派发股息，偿还融资租赁负债及购买物业，厂房及设备所抵销。

比起二零一八年一月三十一日，总流动负债减少1.955亿令吉，下跌8.1％至22.082亿令吉，主要由于应付账款及合约负债减少1.667亿令吉及衍生金融工具减少3,470万令吉。

前景：
本集团重新定位其业务，着重于个性化，移动性，交互性和客户参与度，并专注于执行其关键战略：

（1）通过投资技术数字化传统业务，加速数字转型，通过Astro Go和Njoi Now提供视频流服务，并提供差异化​​产品，服务和内容;

（2）通过集团的电子商务平台，Go Shop，Tribe和地区直播平台Tamago快速扩大数字投资;和

（3）通过与领先内容提供商的合作伙伴关系，加强内容垂直领域的实力并建立强大的创新渠道，以推动收入增长。

2018年5月2日，Astro和Grup Majalah Karangkraf Sdn Bhd之间的合资安排完成。预计这项投资将扩大Astro在马来语在线用户的地区存在，并通过多种平台增强内容IP的利润化，并利用视频制作，数字和电子商务以及扩大在Nusantara地区的覆盖范围。

他们通过收入多元化努力和成本优化举措缓解了媒体行业的结构性变化。今年，Astro将向广告客户，球迷和马来西亚人播放全球最大的体育赛事 - 2018年FIFA世界杯。他们将使用内容和他们的数字平台，为所有消费者提供身临其境的参与度，推动多元化收入流。

基于以上所述，董事会相信本集团将继续保持现金生成性，并将重点投资于其增长策略。

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James Ng

Current quarter (First Quarter FY19) against the corresponding quarter (First Quarter FY18):
EBITDA margin increased by 0.5% against corresponding quarter mainly due to lower content costs and reversal of impairment of receivables, offset by higher cost of merchandise sales, marketing and distribution expenses, licenses and copyright fees, professional and consultancy fees, as a percentage of revenue.

Current quarter (First Quarter FY19) against the preceding quarter (Fourth Quarter FY18):
EBITDA margin increased by 7.0% against the preceding quarter mainly due to lower content costs, reversal of impairment of receivables, and marketing and distribution expenses as a percentage of revenue.

Total current assets of RM2,283.9m was higher by RM242.8m as compared to 31 January 2018. This was mainly due to increase in other investments by RM144.6m from investment in unit trusts and increase in cash and bank balances by RM204.9m. The increase in cash and bank balances by RM204.9m was mainly due to cash flow from operating activities and drawdown of SFCL facility of RM306.4m, offset by dividend payment, repayment of finance lease liabilities and purchase of property, plant and equipment.

Total current liabilities decreased by RM195.5m, 8.1% to RM2,208.2m as compared to 31 January 2018, primarily arising from decrease in payables and contract liabilities by RM166.7m and derivative financial instruments by RM34.7m.

Prospects:
The Group is re-positioning its business with emphasis towards personalisation, mobility, interactivity and customer engagement, and is focused on executing its key strategies on:

(1) digitalising the legacy businesses via investments in technology to accelerate digital transformation, providing video streaming services via Astro Go and Njoi Now, and offering differentiated products, services and content;

(2) rapidly scaling digital ventures via the Group’s e-commerce platform, Go Shop, Tribe and regional live streaming platform, Tamago; and

(3) deepening strength in content verticals and building a robust innovation pipeline via collaborative partnerships with leading content players to drive revenue growth.

On 2 May 2018, the joint venture arrangement between Astro and Grup Majalah Karangkraf Sdn Bhd was completed. It is expected that this investment would extend Astro’s regional presence amongst the Malay language audience online and augment monetisation of content IPs across multiple platforms, leveraging on video production, digital and e-commerce, as well as expanding reach across the Nusantara region.

They are cushioning against structural change in the media industry by revenue diversification efforts and cost optimization initiatives. This year Astro will be broadcasting the 2018 FIFA World Cup, the largest sporting event globally, to customers, fans and Malaysians. They will be using content and their digital platforms to provide immersive engagement with consumers across all demographics, driving towards diversified revenue streams.

On the basis of the above, the Board believes the Group will continue to remain cash generative and will focus on investing in their growth strategy.

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James Ng