Latest news with #RM49.90
New Straits Times
6 days ago
- Business
- New Straits Times
Sepang faces 20 per cent fee hike to continue hosting MotoGP
KUALA LUMPUR: Malaysia might have to pay up to 20 per cent more in MotoGP rights fees if it wants to continue hosting the hugely popular race at Sepang Circuit beyond 2026. Sepang International Circuit's (SIC) current deal with MotoGP owners Dorna Sports expires next year. SIC chief executive officer Azhan Shafriman Hanif is hoping to negotiate better terms on the renewal. It is unknown how much Malaysia, which is currently at the tail end of a three plus two year contract with Dorna, is currently paying to host the race annually. "We are in the process of collecting information (regarding renewal) and hope to table it to the cabinet by the end of the year," said Shafriman yesterday (Aug 13). "Dorna are also chasing us for a decision as they want to finalise their calendar (for 2027) and possibly look for a replacement if we do not want to continue hosting it. "Of course there will be an increase (in hosting rights fees), possibly about 20 per cent compared to previously. "It is quite high, however, we are still negotiating to get the best value for Malaysia." Shafriman highlighted the fact that the Malaysian GP has a significant positive impact on the local economy. He claimed the event provides 6.3 times return on investment for Malaysia based on an economic impact study conducted last year. Shafriman added that SIC will do their best to refrain from increasing ticket prices as it could impact spectator turnout during the event. "We do not want to burden the rakyat (people) with expensive tickets. We previously saw what happened with Formula One (here)," said Shafriman. "When Formula One tickets were sold at an expensive price, it was difficult for people to come and watch the race. "We are aware of the current economic situation and are hoping to keep MotoGP tickets at a very affordable level". SIC is currently selling Malaysian GP (October 24-26) Rahmah Tickets for RM49.90. The race achieved a new three-day attendance record of 184,923 fans last year. SIC is hoping to break the 200,000 barrier this year.
New Straits Times
7 days ago
- Business
- New Straits Times
SIC eyes record-breaking crowd for Malaysian GP
KUALA LUMPUR: Sepang International Circuit (SIC) is sticking to their target of attracting 200,000 fans over three-days at the Petronas Grand Prix of Malaysia (Malaysian GP) on October 24-26. SIC chief executive officer Azhan Shafriman Hanif admits it is a lofty target but is determined to make it happen this year. The Malaysian GP achieved a record three-day attendance of 184,923 last year. "We have already reached 75 per cent of our ticket capacity and this year we are introducing a number of exciting enhancements which includes our first-ever pre-race electronic dance music festivals," said Shafriman during a Malaysian GP event in Kuala Lumpur today (Aug 12). "200,000 (target over three-days) is a bit of a stretch we know, but of course, with the support of everyone we know we can achieve it." Youth and Sports Minister Hannah Yeoh also attended the Malaysian GP event today. The race will be preceded by two EDM festivals on October 18-19. RM1 from each ticket sold will be channeled to the National Sports Trust Fund (KWASN) which will support the development of Malaysian athletes. A special buy one free one ticket promotion is currently being held for Malaysian GP Rahmah Tickets which are priced at RM49.90 each. The promotion, which started at 8pm today (Aug 12), is only for 24 hours.
New Straits Times
20-06-2025
- Business
- New Straits Times
HLIB cuts Astro forecasts after weak Q1 results, maintains 'sell' at 13 sen
KUALA LUMPUR: Astro Malaysia Holdings Bhd is expected to face limited near-term catalysts amidst a challenging macroeconomic environment and ongoing structural shifts in the media industry, according to Hong Leong Investment Bank Bhd (HLIB). HLIB said Astro continues to grapple with mounting structural challenges, particularly due to cord-cutting trends and intensifying competition from over-the-top platforms. The firm noted that the recent launch of the rebranded "Astro One", which offers simplified and lower-priced bundles such as entertainment, sports, and epic packs starting at RM49.90, aims to improve affordability and value perception. "While this initiative may support subscriber acquisition, it has also led to average revenue per user dilution, which declined to RM98," HLIB said. HLIB highlighted that subscription revenue has historically contributed between 62 per cent and 77 per cent of group revenue. "As such, although the new pricing strategy may be tactically sound, it introduces near-term pressure on top-line performance and profitability. "Despite Astro's strong position in local content creation, advertising expenditure (adex) remains muted, and revenue headwinds continue to persist," it added. HLIB has maintained a "sell" rating on Astro, with a target price of 13 sen. The firm believes that Astro's earnings visibility remains clouded in light of persistent subscription decline with cord-cutting behaviour and softening adex. For the first quarter ended April 30, 2025, Astro recorded core profit after tax and minority interest of RM700,000, which only made up one per cent of HLIB's and consensus full-year forecasts. The negative deviation was due to lower revenue caused by a decline in advertising and subscription revenue. Meanwhile, year-on-year top-line was down by nine per cent on the back of the reduction in subscription and advertising revenue. Segment-wise, both TV and radio fell by eight per cent and 28 per cent respectively. The contraction in TV was due to lower subscription and advertising revenue, while radio was impacted by soft consumer sentiment leading to lower advertising spend. In view of the results shortfall, HLIB has cut its financial year 2025 (FY25) and FY26 forecasts by 51 per cent and 58 per cent respectively.
