The future sounds bright :-
Asia Media will invest in developing the first Digital Live Transit-TV Broadcasting infrastructure in Malaysia. By adopting international broadcasting standard infrastructure, Asia Media is capable of delivering live video & voice into the transportation industry in the country.
Leveraging on its extensive Transit-TV network, which extends to over 3,000 Transit-TVs with Rapid K.L., Causeway Links and Konsortium Transnational Group, Asia Media is positioned to extend its Transit-TV network system into the LRT, Monorail and eventually the MRT. Asia Media also intends to venture its business model in foreign countries such as Singapore and Indonesia.
http://etp.pemandu.gov.my/Progress_Update-...oadcasting.aspxASIA MEDIA GROUP BERHAD (“AMEDIA”)
Clarification on the article appearing on page A14 of the Nanyang Siang Pau dated 10 March 2011
We refer to the article appearing in the Nanyang Siang Pau dated 10 March 2011, in particular the following sentences:
(i) “AMEDIA plans to invest RM50 million to expand its services into Singapore’s market and expanding its Malaysian’s operations and is expected to achieve a thirty percent (30%) growth in revenue for the financial year ending 31 December 2011; and
(ii) AMEDIA’s founder and Chief Executive Officer Dato’ Ricky Wong said : ‘we have obtained the broadcasting licence in Singapore and is expected to enter into a memorandum of understanding in one (1) to two (2) months.’”
We wish to clarify that the Company is currently exploring a potential acquisition of a company based in Singapore which has secured the broadcasting licence in Singapore and expects to enter into a memorandum of understanding or an agreement in one (1) to two (2) months’ time in respect of the potential acquisition. Once the terms of the potential acquisition have been finalised, the Company will make the appropriate announcement to Bursa Malaysia Securities Berhad in due course.
The Company plans to invest up to RM30 million for the expansion in Singapore in the next two (2) years, which include the purchase consideration for a potential acquisition as mentioned above and the capital expenditures. In addition, the Company plans to invest at least RM20 million to roll out the digital broadcasting in the Klang Valley within a year and out of this amount, RM16 million will be from the proceeds raised from the initial public offering early this year.
On the revenue growth, the Company expects to grow in tandem with the growth of the digital-out-of-home transit media industry in Malaysia. Based on the Independent Market Research Report dated December 2010 as prepared by Frost & Sullivan Malaysia Sdn Bhd (as disclosed in the Company’s prospectus dated 22 December 2010), the
year-on-year growth rates from 2010 to 2014 are expected to stabilise to an average of approximately 30%.This announcement is dated 11 March 2011.
This post has been edited by SKY 1809: Apr 21 2011, 06:55 PM