3 rd Quarter FY20 Results 4 December 2019 Disclaimer This document - - PowerPoint PPT Presentation
3 rd Quarter FY20 Results 4 December 2019 Disclaimer This document - - PowerPoint PPT Presentation
3 rd Quarter FY20 Results 4 December 2019 Disclaimer This document contains certain forward-looking statements with respect to Astro Malaysia Holdings Berhads (Astro) financial condition, results of operations and business, and
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
- bligation 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
- r expenses howsoever arising out of or in connection with this presentation.
Disclaimer
1 | 3QFY20 results
NB: (1) Normalised PATAMI excludes post-tax impact unrealised forex gain/(loss) 3Q FY20: (RM 7mn), 3Q FY19: (RM 24mn) due to mark-to- market revaluation of transponder-related finance lease liabilities
3Q FY20 key performance highlights
2 | 3QFY20 results
EBITDA Normalised PATAMI (1) FCF of RM234mn Revenue Commerce Adex
RM1.38bn → RM1.22bn RM179mn → RM167mn Capturing market share across TV and radio RM98mn→ RM93mn Growing customer numbers amid soft market RM473mn → RM458mn Healthy EBITDA margin of 38% RM177mn→ RM178mn Normalised PATAMI margin of 15% 137% of PATAMI, 2.0 sen dividend declared
3Q FY19 3Q FY20 Year-on-year financial highlights
NB (1) TV household data sourced from the Department
- f
Statistics Malaysia and Media Partners Asia (2) Household penetration comprises residential Pay-TV customers and NJOI customers (3) Viewership share is based on DTAM deployed by Kantar Media DTAM (4) Audience measurement is based on GfK (5) Digital monthly unique visitors (“MUV”) to Astro’s digital assets, averaged over the last 12 months as sourced from comScore (6) Connected set-top boxes (STBs) are internet-ready with recording functionality and have access to Astro’s On Demand library of content (7) Normalised PATAMI excludes post-tax impact of unrealised forex gain/(loss) YTD FY20: (RM 13mn),YTD FY19: (RM 59mn) due to mark-to-market revaluation of transponder- related finance lease liabilities (8) Numbers may not add up due to rounding differences
3 | 3QFY20 results
YTD FY20 overview
Scaling reach…
YTD FY19 YTD FY20 Growth Total TV households in Malaysia (000s)(1) 7,405 7,529 2% TV household penetration(2) 76% 76%
- TV customer base (000s)
5,662 5,690 1% Pay TV ARPU (RM) 99.9 99.9
- Astro TV viewership share(3)
75% 75%
- Radio listenership (mn) (4)
16.2 16.9 4% Digital MUV (mn)(5) 7.3 11.1 52% Connected STBs (000s) (6) 963 1,011 5% YTD FY19 YTD FY20 Growth Revenue (RM mn) 4,111 3,686
- 10%
Adex (RM mn) 491 469
- 4%
EBITDA (RM mn) 1,223 1,338 9% EBITDA margin 30% 36% 6 p.p. Normalised PATAMI (RM mn) (7) 404 529 31% FCF (RM mn) 1,113 831
- 25%
EPS (RM sen) 6.6 9.9 50%
…enabling resilient results
Digital Brands
- Largest Pay-TV
- perator in SEA
- Serving 5.7mn
households
- 76% household
penetration
- 44% TV adex share
- 1mn connected STBs
- 11.1mn digital MUV
across over 25 digital brands
- Gempak is the No. 1
digital entertainment portal in Malaysia
- 4% digital adex share
- 24/7 multilanguage
shopping experience
- Multiplatform: TV &
ECMC
- 2.1mn registered
customers
- 11 radio brands
- #1 in every language-
English, Malay, Chinese, Tamil
- 16.9mn weekly
listeners & 4mn monthly unique streaming users
- 80% radex share
Leading content & consumer company
RADIO
- #1 premium content
creator & aggregator
- Investing in content
verticals with regional reach
- Produced 13k hours
- f content in FY19
4 | 3QFY20 results
NB: Connected set-top boxes (STBs) are internet-ready with recording functionality and have access to Astro’s On Demand library of content
DIGITAL COMMERCE CONTENT
Radio Brands
TV
Protect Premium Pay Win market with NJOI Expand individuals’ experience Diversify through adjacencies Reinvent Radio Redefine Commerce
- Reinvigorate customer experience
- Refresh content
- Reset customer service
- Reward customers
- Ease prepaid path to purchase
- Increase content choices
- Astro GO enhancement
- Standalone OTT offerings
- Growing digital brands
- Leveraging on record listenership
- Digitalising terrestrial radio
- Content differentiation
- Leverage on talent and production
capabilities
- Diversify and deepen product portfolio
- Drive broadband penetration
Broaden reach to INDIVIDUALS Deepen HOME engagement
Commerce Radio OTT Broadband NJOI Pay TV
- 2.4mn Astro GO registred users
- 11.1mn digital MUV
- 16.9mn radio listenership
- 4mn avg monthly radio streamers
- 2.1mn registered Go Shop
customers
- 76% household penetration
- 5.7mn households
- 1mn connected STBs
- 13k hours of content
produced in FY19
- 51mn VOD downloads
Gateway to homes and individuals
5 | 3QFY20 results PREMIUM FREEMIUM
Strategy Assets Products Key Focus Areas
YTD FY20 Progress report
Pay TV
- Reinvigorate
Customer Experience ✓ Launched new Astro 4K UHD box
- Refresh Content
✓ Unveiled world’s first iQIYI linear channel ✓ New IPs: Sweet Dreams, Muzikal Lawak Superstar & Big Stage ✓ Movies: BoBoiBoy 2, Sangkar, Pusaka, Wira
- Reset Customer
Service ✓ Improving customer service
- Reward
Customers ✓ Ongoing privileges for customers NJOI ✓ Simplification of path to purchase for NJOI customers ✓ Over 30 prepaid channels offered ✓Introducing prepaid top-up via e-wallet Broadband ✓ Higher speeds of up to 100 mbps introduced across both DTH and IPTV platform ✓ Content-broadband bundle with Maxis OTT ✓ New Astro experience launched
- n Astro GO
✓ Launched HBO Go free for all Astro Movies pack customers ✓Launched HBO Go pack for non Movies pack customers ✓ Launched iQIYI global app exclusively to all Malaysians Radio ✓ SME partnerships and nationwide roadshows ✓ Launched Syok, a multilingual entertainment and lifestyle app ✓ Recorded highest ever listenership of 16.9mn in Q3 Commerce ✓Expanded celebrity- anchored programmes, differentiating Go Shop from other commerce platforms ✓Extended service to FTA, reaching all Malaysians
Please refer to slide: #15 to #18 Please refer to slide: #19 Please refer to slide: #20 Please refer to slide: #18 Please refer to slide: #21 Please refer to slide: #22
6
159 264
3Q FY19 3Q FY20
790 933
3Q FY19 3Q FY19
25% 75%
TV Viewership Share (1)
3:36 3:26
2:06 2:05 YTD FY19 YTD FY20
- Avg. Time Spent/Day (hrs)
12.8 12.3
7.1 6.6 YTD FY19 YTD FY20
- Avg. Daily Viewers (mn)
Astro FTA
2.1 2.4
3Q FY19 3Q FY20
- Avg. Weekly Viewing (mins)
Registered Users (2) (mn)
- Avg. Monthly Active Users (4) (’000)
18% 14% 66%
NB: (1) Target Audience: Kantar Media, Dynamic TV Audience Measurement (DTAM). All Astro Pay-TV viewers (2) Cumulative count since inception (3) Connected set-top boxes (STBs) are internet-ready with recording functionality and have access to Astro’s On Demand library of content (4) Source: App Annie as at 31 October
963 1,011
3Q FY19 3Q FY20 Total Connected STBs (2)(3) (000s) 5%
38 51
3Q FY19 3Q FY20 Total Video Downloads (mn) 34%
457 503
3Q FY19 3Q FY20
- Avg. Weekly Viewing (mins)
10%
TV
On Demand OTT
3.9% 4.6%
7 | 3QFY20 results
6.9% 0.8%
Customers watch over 4 hours of Astro daily
Adavadi Deepavali Classic Golden Melody 2019
Vernacular content underpins viewership share
8 | 3QFY20 results
FTA 25% Vernacular content 63% Others 37% Astro 75%
3Q FY20 TV Viewership Share (2)
TV viewership
2.4mn 2.0mn 1.9mn
Big Stage 2019 Evening Edition
206
channels
75
Astro-branded channels
29
free channels
NB (1) Number of channels as at 3QFY20 (2) Target Audience: Kantar Media, Dynamic TV Audience Measurement (DTAM). All Astro Pay-TV viewers
Sweet Dreams Muzikal Lawak Superstar 2019
(1)
TV viewership
446k 313k 127k
Key non-Malay language IPs Key Malay language IPs
85
HD channels
>30
prepaid channels
3
Ultra HD channels
1,076 1,162 1,107 1,073 1,005 987 955 151 161 179 196 145 158 167 84 94 98 99 84 91 93 99.60 99.90 99.90 99.90 100.40 100.00 99.90 20 30 40 50 60 70 80 90 100 110 120
200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000
1Q FY19 2Q FY19 3Q FY19 4Q FY19 1Q FY20 2Q FY20 3Q FY20
GoShop (-2%) Adex (-3%) Subscriptions/ Others (-11%) ARPU (+0.1%) 1,368 1,417 1,311 1,384 1,236 1,234 1,215
(RM mn) Total revenue
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 (2) YTD refers to 9 months ended 31 October (3) Numbers may not add up due to rounding differences
(1)
YTD growth (2)
9 | 3QFY20 results
Steady ARPU in a challenging market
Go Shop (-3%) Adex (-4%) Subscriptions/ Others (-12%) ARPU
(1)
YTD growth
YTD FY19 YTD FY20
NB (1) Advertising income is net of commissions and discounts (2) YTD refers to 9 months ended 31 October (3) Audience measurement is provided by GfK. Share of radex is based on Astro and IPG’s estimates (with Nielsen gross adex as base) since Q3FY19, prior to which share of radex is based on internal estimates. (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) since Q3FY19, prior to which share of TV adex is based on Astro and Group M’s estimates. (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 (6) Numbers may not add up due to rounding differences
YTD FY19 YTD FY20 YTD FY19 YTD FY20 80 80 100 107 80 86 88 63 69 64 73 56 60 67 8 12 14 16 9 12 12 151 161 178 196 145 158 167 1Q FY19 2Q FY19 3Q FY19 4Q FY19 1Q FY20 2Q FY20 3Q FY20 TV Radio Digital Total YTD FY19 YTD FY20
Advertising income (RM mn)
(2) (1)
Total Malaysia gross ADEX YTD growth OVERALL ADEX
- 3%
DIGITAL +13% RADIO
- 11%
TV
- 8%
(2)(5)
77% YTD FY19 YTD FY20 YTD FY19 YTD FY20
Share of radex Share of TV adex Radio listeners (mn) (3) TV viewership share
(4)
- 4%
Share of digital adex Digital MUV (mn)
10 | 3QFY20 results
75%
- 7%
- 2%
- 3%
Outperforming TV and radio adex amid soft market
74% 80% 16.2 16.9 44% 43% 75% 4% 4% 7.3 11.1
352 602 418 429 343 375 341 665 693 663 737 609 596 586 35% 20% 34% 28% 36% 35% 38%
- 50%
- 40%
- 30%
- 20%
- 10%
0% 10% 20% 30% 40% 50% 500 1000 1500 2000
1Q FY19 2Q FY19 3Q FY19 4Q FY19 1Q FY20 2Q FY20 3Q FY20 EBITDA margin Content cost/TV revenue Other expenses Content costs
Relentless focus on operational efficiencies
Total cost
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 amortisation, as well as maintenance costs (3) Higher content cost due to 2018 FIFA World Cup in Q2FY19 (4) Normalised EBITDA margin of 34% excluding one-off employee separation scheme cost in Q4FY19 (5) Numbers may not add up due to rounding differences
30% 48% 34% 36%
11 | 3QFY20 results
(RM mn)
1,017 1,295 1,081 1,166
(3) (4)
952 31% 35% 971 32% 927
NB (1) Data presented are for 9 months ended 31 October (2) Numbers may not add up due to rounding differences
Disciplined capex spend
as % of revenue (RM mn)
126 121
YTD FY19 YTD FY20 as % of revenue Key capex investments in FY20 include: ▪ Technology infrastructure across linear, VOD, OTT & digital ▪ Customer experience ▪ Product and service upgrading Cash capex ▪ STBs/ODUs are owned by Astro, and are capitalised ▪ STBs/ODUs are conservatively amortised over 3 years; note that actual useful life is typically greater than 5 years ▪ Discretionary 36 month bullet payment vendor financing is available for Astro for STB/ODU purchases ▪ RM567mn of vendor financing recorded in payables, of which RM257mn is current and RM310mn is non-current
102 125
YTD FY19 YTD FY20
12 | 3QFY20 results
(RM mn) Set-top box (STB) capex 2% 3% 3% 3%
Strong cash generation capabilities
1,490 1,194 378 363 1,113 831 Cash from
- perations
Cash from investing Free cash flow Cash from
- perations
Cash from investing Free cash flow
(2) (3) (3) (2)
323% 161% as % of PATAMI (RM mn) YTD FY19 YTD FY20 Free cash flow
…enabling significant flexibility on capital management and dividend policy
NB (1) Data presented are for 9 months ended 31 October (2) Excludes investments, disposals and maturities of unit trust and money market funds (3) Excludes repayments of vendor financing and payments of finance leases, which are categorised as cash from financing for consistency with Bursa disclosure (4) Numbers may not add up due to rounding differences
13 | 3QFY20 results
▪ Leveraging on invested capital, AMH continues to be highly cash generative ▪ The Board of Directors of AMH has declared a quarterly dividend of 2.0 sen per share for 3Q FY20 ▪ Quarterly dividend entitlement and payment dates 19 December 2019 and 3 January 2020 respectively
Quarterly dividend announcement
14 | 3QFY20 results
15 | 3QFY20 results
Entertainment for everyone
Local vernacular International Sports Regional
Championing local vernacular content that is gaining in popularity
- Box office: Pusaka, Wira, BoBoiBoy
2, Sangkar
- Key signature IPs: Sweet Dreams, Big
Stage, Evening Edition Fresh regional content
- Strategic partnership with iQIYI –
China’s No. 1 streaming platform to launch the world’s first iQIYI linear channel bringing over 28 hours of fresh content weekly and launched iQIYI global app to all Malaysians Home of live sports
- Live coverage of all matches of
2019/20 Premier League
- Live coverage of Rugby World Cup
2019 on Astro Best and latest international content
- Strategic partnership with HBO to
launch HBO GO app exclusively in Malaysia, adding over 3,000 hours of HBO content to our library
Unveiling the new Astro Experience with Ultra box
16 | 3QFY20 results
➢ New Home Screen Everything you see is yours ➢ Discover VOD Discover 50,000 videos, stream anytime, anywhere ➢ 4K UHD Crystal clear picture quality, 4x clearer than HD ➢ Cloud Recording Record all the programmes you want at the same time ➢ Play From Start You missed the start? Just restart ➢ Search Search faster and easier ➢ Multi-Screen Stream seamlessly across any device ➢ Stop Here, Continue There Stop on one screen and continue on another device
Local movies making waves in Malaysia and abroad
17 | 3QFY20 results
Continuous multigenre success … … solidifies position at local box office
- The biggest local horror
film of 2019
- 100% in-house
development from ideation to screenplay
- A fresh take on
Malaysian horror with unique mix of mystery and investigation
- An action-packed movie by
the Producers and Director
- f PASKAL: The Movie
- Following the success of
Sangkar – this is the 2nd film collaboration of Astro Shaw and Primeworks Studios
- First Malaysian English
language film to be nominated in 9 categories for the 2019 Golden Horse Awards
- Winner of Best Makeup and
Costume Design at the 2019 Golden Horse Awards
- A film adapted from an award-
winning novel by Penang-born novelist Tan Twan Eng
GBO: RM13.5mn and counting GBO: RM5.2mn and counting Malaysia premiere: Jan 2020
Produced and distributed
4 of top 5
highest grossing films in 2019
1 2 3 4 5
BoBoiBoy The Movie 2
RM 30mn Upin & Ipin: Keris Siamang Tunggal
RM 26 mn
Pusaka
RM 13.5mn & counting
Sangkar
RM13mn
Misteri Dilaila
RM 11mn
18 | 3QFY20 results
OTT: Fortifying Chinese content proposition
- iQIYI’s 1st App partner outside China
- Exclusive rights to deliver iQIYI content on TV, On Demand and OTT to
Malaysians
- iQIYI App will feature Astro originals; putting Malaysian talents and content in
the global arena
- Available for all Malaysians on mobile devices and Apple TV
- Exclusive membership privileges for Astro customers
NJOI: Prepaid top-up now available via e-wallet
19 | 3QFY20 results
Supermarket e-pay kiosk Ch 200 Online banking e-wallet
Prepaid top up also available at:
Enjoy hassle free top up & more shows at your fingertips
29
free TV channels
>30
NJOI prepaid channels for purchase
20
free radio channels
More channels, more entertainment, more flexible and so much more with NJOI
DTH IPTV
Broadband: More value and convenience for customers
Content delivery through Internet Protocol (IP) Content delivery through satellite (Direct-to-home) Higher speeds of up to 100mbps introduced across both DTH and IPTV bundles
- Driving OD viewing via connected boxes and Astro GO
- Over 50,000 OD shows for customers to enjoy
Broadband & …
20 | 3QFY20 results
Q3 FY19 Q3 FY20
21 | 3QFY20 results
Average monthly unique streaming users
4 million
(2)
Average monthly streaming sessions
14 million
(2)
Average monthly web users
5.1 million
(2)
NB (1) Audience measurement is based on GfK (2) Based on average three months (Aug-Oct 2019), Radio Active, Google Analytics
Radex share
80%
In every language
#1
16.2
16.9
Weekly listeners (million)
Radio: Reaching more Malaysians than ever
Available across all platforms:
Go Shop: Catering to all Malaysians
22 | 3QFY20 results
- Celebrated Go Shop’s 5th anniversary with exclusive deals
- Go Shop is now available on Free-To-Air (FTA) TV, reaching all Malaysians
NB (1) Data presented for 9 months ended 31 October (2) Cumulative as of 31 October
Revenue(1) (RM mn)
1.6 2.1 YTD FY19 YTD FY20
Registered Customers(2) (mn) 275 267
YTD FY19 YTD FY20
Appendix
(RM mn) YTD FY19 YTD FY20 EBITDA 1,223 1,338 Margin % 30% 36% Depreciation and amortisation (494) (494) EBIT 729 845 Margin % 18% 23% Finance income 31 22 Finance cost (280) (200) Share of post tax results from investments 1
- PBT
480 667 Tax expense (138) (160) Tax rate % 29% 24% PAT 342 507 PATAMI 345 516 Margin % 8% 14% Normalised PATAMI 404 529 Margin % 10% 14%
NB (1) Depreciation and amortisation excludes the amortisation
- f
film library and programme rights which is expensed as part of content costs (cost of sales) (2) Normalised PATAMI excludes post-tax impact
- f
unrealised forex gain/(loss) 3QFY20: (RM 13mn), 3QFY19: (RM 59mn) due to mark-to-market revaluation
- f
transponder-related finance lease liabilities (3) Numbers may not add up due to rounding differences
(2) (1)
PAT reconciliation
24 | 3QFY20 results
(RM mn) FY19 YTD FY20 Non-current assets 4,718 4,597 Property, plant and equipment and rights–of-use assets 2,233 2,098 Other non-current assets 2,485 2,499 Current assets 1,542 1,696 Receivables and prepayments 818 592 Cash and bank balances(1) 632 1,013 Other current assets 92 91 6,260 6,293 (RM mn) FY19 YTD FY20 Non-current liabilities 3,601 3,655 Payables 412 310 Borrowings 3,096 3,255 Other non-current liabilities 93 90 Current liabilities 1,980 1,722 Payables 1,467 1,173 Borrowings 475 482 Other current liabilities 38 67 Shareholders’ equity 679 916 6,260 6,293
Net debt / LTM EBITDA: 1.6x
NB (1) Includes money market unit trusts (2) Numbers may not add up due to rounding differences
Balance sheet overview
25 | 3QFY20 results
1,568 615 303 832 419 3QFY20
Total borrowings: RM3,737mn*
Debt profile
RM term loan Finance lease (primarily satellite transponders)
▪ As at 31 October 2019, outstanding principal stood at USD99mn. ▪ First drawdown date was on 8 June 2011, amortised repayment schedule with final maturity date on 8 June
- 2021. Average life: 7 years.
▪ 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 twelfth principal repayment of USD24.75mn (RM74.72mn) paid on 10 June 2019 and next repayment (of the same amount) will be paid on 9 December 2019. ▪ As at 31 October, total outstanding principal stood at RM830mn. ▪ A total of RM150mn out of the RM830mn has amortised repayment schedule with final maturity date on 19 May 2021(Average life: 7 years), at a floating rate (based on cost of funds) of 4.86% p.a. The thirteenth principal repayment of RM37.5mn paid on 19 November 2019 and next repayment (of the same amount) will be paid on 20 May 2020. ▪ Finance lease related to lease of Ku-band transponders on MEASAT-3, MEASAT-3A and MEASAT-3B. Payment arrangement for the remaining contractual years for M3 and M3A have been redenominated into Ringgit at USD/RM3.0445 w.e.f. 21 May 2013. The unhedged portion of the finance lease related to M3B is USD169.4mn. ▪ Effective interest rate: 6.2%, 4.6%, 12.5% and 5.6% p.a. for M3, M3-T11, M3A and M3B respectively, average life: 15 years.
Unrated MTN
▪ The first series of notes under the unrated medium-term notes (MTN) programme of up to RM3.0bn in nominal value of up to 15-year tenor was issued on 10 August 2017. The issuance was for RM300mn with a 5-year tenor at fixed rate of 5.30% p.a. with semi-annual coupon payment. ▪ Bullet repayment on 10 August 2022.
26 | 3QFY20 results Synthetic Foreign Currency Loan (SFCL)
▪ The USD150mn SFCL facility of 4 years 11 months tenor amounted to RM612.7mn upon conversion at the 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 rate of 4.80% p.a. with quarterly interest payment. ▪ Bullet repayment on 29 November 2022.
USD term loan
▪ The RM380mn is a term loan facility with a 5-year tenor secured and fully drawn down on 23 August 2018, at a 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. ▪ 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 (based on cost of funds) of 4.87% as at 31 October 2019, 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. *Includes accrued interest of RM18.1mn and net of debt issuance costs of RM4.9mn. USD term loan converted at quarter end rate of USD/4.1803
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