10-05-2023, 08:37 AM
![[Image: 28080c6b-astro-go-shop-screengrab-041023.jpg]](https://media.freemalaysiatoday.com/wp-content/uploads/2023/10/28080c6b-astro-go-shop-screengrab-041023.jpg)
PETALING JAYA: The proverb “it never rains but it pours” is probably an apt description of recent setbacks that have pummelled Astro Malaysia Holdings Bhd, the pay-TV operator controlled by reclusive tycoon Ananda Krishnan.
Its shares plummeted to an all-time low of 40 sen yesterday, driven by disappointing results for its second quarter ended July 31, 2023 (Q2 FY2024), a murky dividend outlook, and closure of its home shopping venture Go Shop.
Over the past 18 months, the media and entertainment holding company’s market capitalisation has seen a huge drop in tandem with its dwindling subscriber base.
Its share price has tumbled 61.17% from its peak of RM1.03 at the end of March last year, wiping some RM3.29 billion from its market capitalisation.
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