Astro records RM23.4 million Pre-tax loss Q2

KUALA LUMPUR, Sept 13 (Bernama) -- Astro All Asia Networks plc reversed into a pre-tax loss of RM23.4 million in its second quarter ended July 31 from the pre-tax profit of RM97 million in the same quarter last year.Its revenue, however, rose to RM629.28 million, an 11 percent increase from RM569.08 million previously, the company said in a statement Thursday.The loss could be attributed to its Indonesian venture, with Astro saying its share of operating losses in the multi-channel digital satellite pay TV and multimedia business in Indonesia was RM43.3 million for the second quarter.Astro told Bursa Malaysia that it is providing additional provisions of RM92.4 million against the carrying value of all deferred costs and assets relating to the Indonesian venture, "where recoverability cannot be reasonably assured under current assessment."The company said that in seeking mutually acceptable solutions to effectively continue operations in the Indonesian venture, the options considered may involve restructuring of the various parties' interest.It said that in the event that no agreement is reached, there will be further costs relating to commitments already made which are estimated at RM200 million.Its chief executive officer Robert Odendaal in the statement said: "Notwithstanding the current state of the proposed investment in Indonesia, the Group remains committed to the Asian region which continues to offer significant potential for platform distribution and content development activities."