Astro said in a regulatory filing with Malaysian stock exchange, Bursa Malaysia, that Sun Direct TV Pvt Ltd has applied to the relevant Indian authorities, which would allow it to invest in the company. However, the company said that no agreement has been reached so far with any party in this regard.
There have been reports in the Malaysian and foreign media about Malaysia-based South Asia Entertainment Holding Ltd picking up a 20 per cent stake in Sun Direct TV, which holds a DTH TV licence in India.
SAEHL is a wholly-owned subsidiary of Astro Overseas Ltd, which in turn is a wholly-owned subsidiary of Astro. Astro said in the filing: "Consistent with our long stated goal to invest in complementary regional markets, the company continues to evaluate a number of opportunities in quality pay television and other media assets throughout Asia, including India."
Astro is owned by billionaire tycoon Tatparanandam Ananda Krishnan, who has been named Malaysia's richest and Southeast Asia's second richest man by the Forbes magazine.
Krishnan's business empire also includes telecom major Maxis, besides the country's only DTH satellite service provider Astro.
The New Cable TV Regime