Star Media Group posts revenue of RM59.4mil
The company recorded pre-tax profit of RM0.7mil compared to a loss of RM0.2 mil in 2024, attributed to the better performance from both the radio broadcasting and property development and investment segments.
Revenue for the radio broadcasting segment grew by 21% to RM8.8mil in 1Q25, resulting in significantly higher pre-tax profit of RM1.9mil compared to RM0.6mil in the same period last year.
This growth was supported by increased revenue from commercial airtime, sponsorships, and digital platforms, benefiting from festive season demand, the media group said in a filing with Bursa Malaysia.
As for its property development and investment, revenue saw a 237% growth to RM16.5mil as compared to RM4.9mil recorded in 1Q24.
This strong performance, driven by higher progress billings from the Star Business Hub project and increased property leasing income, resulted in a significant rise in pre-tax profit to RM7.6mil, up from RM1.3mil recorded in the same period one year ago.
Coming to the print, digital and events segment, revenue decreased 17% to RM35.4mil. This decline was primarily driven by lower advertising income amidst a more challenging economic climate influenced by potential US tariffs and ongoing geopolitical tensions.
The segment recorded a pre-tax loss of RM3.5mil versus a RM1.6mil profit in the same period last year.
Touching on prospects, SMG said economic disruptions stemming from geopolitical tensions and the escalating trade war will continue to present a challenging outlook for the media industry in 2025.
'These factors are expected to impede economic recovery and increase cost-of-living pressures, thus hindering the industry's ability to rebound. Despite these headwinds and continued disruptive trends, the group remains confident in its resilience and adaptability.'
The group said the management remains optimistic that the property development and investment segment will continue to contribute positively to the group's overall performance in 2025.
Leveraging on a strong financial foundation, SMG added that it will "actively pursue opportunities for revenue diversification and sustainable profitability growth".
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
6 hours ago
- Malaysian Reserve
Econpile secures RM58m construction and supply contracts for Oasis Ara project
ECONPILE Holdings Bhd has clinched two contracts worth a combined RM57.95 million for construction and material supply works related to the Oasis Ara development in Ara Damansara, Selangor. In a filing with Bursa Malaysia, the company said its wholly owned subsidiary, Econpile (M) Sdn Bhd, received letters of award on July 2 from LFE Engineering Sdn Bhd and LFE Innovative Sdn Bhd. The first contract, valued at RM27.99 million, was awarded by LFE Engineering for construction services involving alteration, underpinning, and strengthening works. The second, worth RM29.96 million, was awarded by LFE Innovative for the supply and delivery of materials for the same project. The contracts are scheduled to run for 21 months from June 30, 2025. Econpile said the awards are expected to contribute positively to its revenue and earnings from the financial year ending June 30, 2026 onwards. — TMR
Malaysian Reserve
6 hours ago
- Malaysian Reserve
LB Aluminium acquires Banting industrial property for RM22m
LB Aluminium Bhd is acquiring a 6.74-acre leasehold industrial property in Banting, Selangor, for RM22 million as part of a strategic move to enhance its asset base while monetising a portion of the deal through a debt offset arrangement. In a filing with Bursa Malaysia, the aluminium extrusion specialist said it is purchasing the property – which includes buildings — from Lucksoon Coatings Sdn Bhd. As part of the transaction, LB Aluminium will enter into a contra agreement to offset RM4.01 million in outstanding debt owed by Lucksoon Coatings' related company, Lucksoon Metal Works Sdn Bhd, against the purchase price. Upon completion of the acquisition, LB Aluminium will lease the property back to Lucksoon Metal Works under a three-year tenancy agreement. The company is currently occupying the site for its metal works and metal product trading operations. LB Aluminium said the property offers long-term capital appreciation potential due to its strategic location near Port Klang and Kuala Lumpur International Airport, with convenient access to major highways. The acquisition will be funded via a combination of internally generated funds and bank borrowings. — TMR
New Straits Times
6 hours ago
- New Straits Times
Econpile's unit secures contracts worth RM57.95mil for Ara Damansara project
KUALA LUMPUR: Econpile Holdings Bhd's wholly-owned subsidiary, Econpile (M) Sdn Bhd, has secured two contracts worth a combined RM57.95 million for a proposed development in Ara Damansara, Selangor. In a filing with Bursa Malaysia, the company said the construction services contract worth RM27.99 million was awarded by LFE Engineering Sdn Bhd, while a separate contract for the supply and delivery of materials worth RM29.96 million was awarded by LFE Innovative Sdn Bhd. The project involves design and build works for alteration, underpinning, and strengthening for the Oasis Ara development in Jalan PJU 1A/46, Ara Damansara. "The contract period is 21 months from June 30, 2025," Econpile said. The company said the contracts are expected to contribute positively to its revenue and earnings from the financial year ending June 30, 2026, onwards. "There are no foreseeable significant risks other than operational risk associated with the project during the contract period," it said, adding that management would implement control measures and procedures to manage such risks.
