However, Neoh said “one good thing” about the company is that “at least it is generating quite a healthy level of cash flow every year”, since most of the group’s costs stem from the depreciation of content and transponder assets.

He added that a potential reinstatement of dividends could serve as a catalyst for the stock, noting that Astro has not been paying dividends for the past two to three years. Neoh said Astro is doing all that it can to stop the company’s decline.