KUALA LUMPUR: Hong Leong Investment Bank (HLIB) Research said existing and potential customers of Astro and Time dotCom (TdC) in multi-dwelling units or commercial buildings will be offered an Astro IPTV solution, bundled with TdC's fibre broadband, value added services and voice telephony services (Triple Play).
It said on Friday, April 1 that Astro will undertake the marketing of the service while TdC will deliver and manage the services over their fiber network, with the agreement be effective retrospectively from Dec 20, 2010 and will continue for a term of 10 years from April 1, 2011.
'While no minimum contract size was revealed, the agreement is expected to contribute positively to TdC's earnings moving forward as TDC would be able to leverage on Astro's existing subscriber base in order to facilitate its expansion into the retail market.
'At the current price, Time dC is trading at an estimated P/E of 28.0x and 22.5x for FY11 and FY12 respectively. We maintain our target price of 95 sen based on SOP, pending the outcome of the proposed acquisitions and pending further details on the bundled plans with Astro,' it said.
It said on Friday, April 1 that Astro will undertake the marketing of the service while TdC will deliver and manage the services over their fiber network, with the agreement be effective retrospectively from Dec 20, 2010 and will continue for a term of 10 years from April 1, 2011.
'While no minimum contract size was revealed, the agreement is expected to contribute positively to TdC's earnings moving forward as TDC would be able to leverage on Astro's existing subscriber base in order to facilitate its expansion into the retail market.
'At the current price, Time dC is trading at an estimated P/E of 28.0x and 22.5x for FY11 and FY12 respectively. We maintain our target price of 95 sen based on SOP, pending the outcome of the proposed acquisitions and pending further details on the bundled plans with Astro,' it said.
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