Screenshots

Via XFN Asia dispatch at 15:56:00hr today, picked up by ZoomFinance:

Maybank Securities said it has issued an "avoid" call on Astro All Asia Networks PLC with a fair value of 5.65 rgt pending further developments and clarifications on PT Direct Vision, which operates its Indonesian pay-TV service.

Indonesia's Post and Telecommunication Directorate General (PTDG) is expected to inform Direct Vision in due course that it is not allowed to operate using the MEASAT-2 148E satellite.

According to PTDG, the use of foreign satellites is only allowed on condition it will not interfere with local satellites, in addition to other stipulations.

Maybank securities also noted that even if Direct Vision is able to ensure that Measat 2 does not interfere with the operations of domestic satellites, another major obstacle is likely to be the 2005 Satellite Communications Law, which prohibits the use of foreign satellites in Indonesia, unless reciprocal rights are accorded to Indonesian satellites.

Astro is all Malaysia. Malaysia is not all Astro. Ananda Krishnan and Ralph Marshall should understand this.

Thanks YW Loke of BeritaMalaysia for the heads-up.