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New Straits Times
28-05-2025
- Business
- New Straits Times
Media Prima posts results that reflect adverse market conditions, ongoing industry evolution
KUALA LUMPUR: Media Prima Bhd, the country's largest integrated media group, posted RM211.6 million revenue and RM1.0 milion net profit in the third quarter ended March 31 2025 (Q3 FY25). The results were supported by an 11 per cent year-over-year growth in non-advertising revenue, which enabled the group to balance the impact of adverse market conditions on advertising revenue. Culmulatively, Media Prima's revenue in the first nine months stood at RM634.5 million, with a net profit of RM6.9 million. The performance was achieved amid challenging market conditions and ongoing industry evolution throughout the period, the company said. The results also reflect the group's efforts in managing its diverse portfolio which include broadcasting, publishing, digital media, out-of-home, home shopping and Omnia, an integrated media solutions and creative services provider. Media platforms that recorded encouraging performance include home shopping and audio under the broadcasting segment. Group chairman Datuk Seri Dr Syed Hussian Aljunid said the results reflect the ongoing dynamic nature of the media industry and broader economic conditions. He said the group remains steadfast in executing its three-year strategic roadmap, which emphasises enhancing content quality, premiumising inventory and diligently identifying new revenue opportunities. "These initiatives are crucial for building resilience and establishing a solid foundation for sustainable growth. "Our commitment to improving operational effectiveness across all segments is unwavering as we navigate current market challenges," he said. Group managing director Rafiq Razali said Media Prima is navigating a complex market which includes significant shifts in advertising and consumer behaviour. He said the home shopping segment's quarterly performance is encouraging. "While certain segments faced headwinds, particularly in advertising revenue, our focus remains on prudent cost management and the strategic execution of our business plan. "We are continuously working to enhance our operational effectiveness while relying on data insights to understand audience preference and market trends to deliver value," he said. Rafiq added that Media Prima will maintain a prudent perspective for the rest of the financial year, anticipating continued pressure on advertising expenditure due to economic uncertainties and the evolving media landscape.
BusinessToday
02-05-2025
- Business
- BusinessToday
Capital A's Auditors Flag Material Uncertainty Over Going Concern
Capital A Berhad has announced that its external auditors, Ernst & Young have issued an unqualified audit opinion on the company's audited consolidated financial statements for the financial year ended 31 December 2024. However, this opinion includes a 'material uncertainty related to going concern' paragraph. This disclosure, made pursuant to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, highlights significant doubt regarding the Group's and the Company's ability to continue as a going concern. The material uncertainty stems from the fact that, as of the date of the audit report, key milestones related to the company's Proposed Disposals remain incomplete. These include obtaining necessary approvals from government entities, financiers/lenders, and third parties for both Capital A and AirAsia X Berhad (AAX). Additionally, AAX has yet to raise RM1.0 billion as part of these disposals. Capital A had previously announced a Proposed Regularisation Plan on 24 October 2024, involving a proposed reduction of its issued share capital of up to RM6.0 billion. This plan received approval from Bursa Securities on 7 March 2025. A circular to shareholders and notice to holders of redeemable convertible unsecured Islamic debt securities (RCUIDS) concerning the plan was issued on 15 April 2025. Extraordinary general meetings to seek shareholder and RCUIDS holder approval are scheduled for 7 May 2025. The company stated that the material uncertainty highlighted by the auditors is linked to the ongoing implementation of both the Proposed Disposals and the Proposed Regularisation Plan. Capital A anticipates that the concerns leading to the 'material uncertainty related to going concern' paragraph will be resolved upon the fulfillment of the remaining conditions precedent for the Proposed Disposals, which are expected to be completed by the second quarter of 2025, barring any unforeseen circumstances. Related
New Straits Times
29-04-2025
- Business
- New Straits Times
Short-term rates to remain stable on Bank Negara operations
KUALA LUMPUR: Short-term rates are expected to remain stable today following Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the financial system. Liquidity is estimated at RM31.53 billion in the conventional system and RM23.02 billion in the Islamic funds. Today, BNM will conduct two reverse repo tenders, RM2.8 billion for seven days and RM1.0 billion for 91 days, as well as two Islamic reverse repo tenders (sell and buy-back agreement) of RM280 million for seven days and RM350 million for 91 days. It also announced the availability of reverse repo, sell and buy-back agreements, and collateralised commodity murabahah facilities with tenors of one week, one month, and three months. At 4 pm, BNM will conduct up to RM35.3 billion in a conventional overnight tender and RM23.7 billion in a murabahah overnight tender.
Associated Press
26-02-2025
- Business
- Associated Press
Kenanga Group Posts All-Time-High RM1 Billion Revenue and RM155.5 million Operating Profit in FY2024
KEY HIGHLIGHTS FY2024 VS FY2023 Revenue at RM1.0 billion, up by 22.3% Operating Profit at RM155.5 million, up by 88.7% Profit Before Tax ('PBT') at RM117.2 million, up 33.1% Net Profit at RM95.8 million, up by 31.6% Net Income at RM799.6 million, up by 22.6% Operating Expense at RM644.0 million, up by 13.0% Return on Equity at 8.75%, up by 25.8% Earnings Per Share at 13.18 sen, up by 31.3% Net Equity Trading Investment Income at RM55.8 million, up by 30.8% Overall Market Share at 9.6%, Retail Segment Market Share at 25.3% Asset Under Administration ('AUA') at RM23.5 billion, up by 8.5% KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 26 February 2025 - Kenanga Investment Bank Berhad ('Kenanga Group' or 'The Group'), Malaysia's leading independent investment bank, today delivered one of its strongest financial results to date for the financial year ended 31 December 2024 ('FY2024"). The Group posted an all-time high revenue of RM1.0 billion, up 22.3% year-on-year, while operating profit surged 88.7% to RM155.5 million, also its highest yet. PBT rose 33.1% to RM117.2 million, while net profit climbed 31.6% to RM95.8 million. Kenanga Group's strong results were driven by a significant revaluation gain on strategic investments through its Private Equity arm, alongside higher trading and investment income, net brokerage income, and management and performance fees. Increased contributions from associates further bolstered its bottom line, partially offset by credit loss expenses. Reflecting this performance, the Board of Directors has declared an interim single-tier dividend of 8.00 sen per ordinary share for FY2024. '2024 was another landmark year for Kenanga Group, delivering one of our strongest financial performances to date, despite market headwinds. This milestone underscores the resilience of our diversified business model and our disciplined approach in capitalising on growth opportunities across all our key business segments,' said Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad. Kenanga Group's Stockbroking division recorded RM363.6 million in revenue, a 17.9% increase from the previous year. PBT eased to RM15.4 million from RM16.1 million in FY2023, reflecting the impact of credit loss expense incurred during the year as opposed to a writeback in the previous year. Amid heightened market volatility and an evolving competitive landscape, the division successfully maintained its retail market share of 25.3%. The structured warrants business remained a key contributor, reinforcing the Group's position as Malaysia's leading issuer, with the highest market share in warrants trading volume. Its Asset and Wealth Management division posted revenue of RM303.9 million, an increase of 14.9% year-on-year. The revenue was primarily driven from its institutional and retail segments. Despite higher overhead cost, which led to a PBT of RM47.0 million relative to RM58.7 million in 2023, the division's AUA saw strong growth, closing at RM23.5 billion, an increase of RM1.8 billion year-on-year. The Group's Investment Banking division registered a jump in both revenue and PBT for FY2024, with a 10.0% increase in revenue to RM246.4 million, and an 8.4% increase in PBT to RM6.2 million. This was driven by higher investment income from treasury and fee income, buoyed by a vibrant bond market and capital market. Kenanga Group's Listed Derivatives business continued its growth streak, delivering yet another year of record performance. Revenue climbed 15.3% to RM27.6 million, while PBT surged 24.1% to RM7.8 million, its highest in over a decade. This sustained upward trajectory was fueled by higher trading commissions and interest income, supported by a surge in trading activity across the listed derivatives market. 'As we enter 2025, our focus remains on growing our core businesses while accelerating digital transformation. By strengthening recurring income streams, optimising cost efficiencies, and expanding product offerings, we are positioning Kenanga Group for sustainable, long-term growth,' added Datuk Chay. 'With a legacy that spans over five decades, we continue to leverage our vast experience from navigating market cycles, and create synergies across our ecosystem to drive innovation, expand market reach, and create greater value for our stakeholders,' concluded Datuk Chay. Beyond financial performance, Kenanga Group remains committed to responsible and sustainable growth. In 2024, this commitment was reaffirmed with the Group's continued inclusion on the FTSE4Good Bursa Malaysia Index, ranking among the Top 8% of Malaysian public-listed companies. The issuer is solely responsible for the content of this announcement.
Zawya
26-02-2025
- Business
- Zawya
Kenanga Group Posts All-Time-High RM1 Billion Revenue and RM155.5 million Operating Profit in FY2024
Asia Press Release Revenue at RM1.0 billion, up by 22.3% Operating Profit at RM155.5 million, up by 88.7% Profit Before Tax ("PBT") at RM117.2 million, up 33.1% Net Profit at RM95.8 million, up by 31.6% Net Income at RM799.6 million, up by 22.6% Operating Expense at RM644.0 million, up by 13.0% Return on Equity at 8.75%, up by 25.8% Earnings Per Share at 13.18 sen, up by 31.3% Net Equity Trading Investment Income at RM55.8 million, up by 30.8% Overall Market Share at 9.6%, Retail Segment Market Share at 25.3% Asset Under Administration ("AUA") at RM23.5 billion, up by 8.5% KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 26 February 2025 - Kenanga Investment Bank Berhad ("Kenanga Group" or "The Group"), Malaysia's leading independent investment bank, today delivered one of its strongest financial results to date for the financial year ended 31 December 2024 ("FY2024"). The Group posted an all-time high revenue of RM1.0 billion, up 22.3% year-on-year, while operating profit surged 88.7% to RM155.5 million, also its highest yet. PBT rose 33.1% to RM117.2 million, while net profit climbed 31.6% to RM95.8 million. Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad Kenanga Group's strong results were driven by a significant revaluation gain on strategic investments through its Private Equity arm, alongside higher trading and investment income, net brokerage income, and management and performance fees. Increased contributions from associates further bolstered its bottom line, partially offset by credit loss expenses. Reflecting this performance, the Board of Directors has declared an interim single-tier dividend of 8.00 sen per ordinary share for FY2024. "2024 was another landmark year for Kenanga Group, delivering one of our strongest financial performances to date, despite market headwinds. This milestone underscores the resilience of our diversified business model and our disciplined approach in capitalising on growth opportunities across all our key business segments," said Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad. Kenanga Group's Stockbroking division recorded RM363.6 million in revenue, a 17.9% increase from the previous year. PBT eased to RM15.4 million from RM16.1 million in FY2023, reflecting the impact of credit loss expense incurred during the year as opposed to a writeback in the previous year. Amid heightened market volatility and an evolving competitive landscape, the division successfully maintained its retail market share of 25.3%. The structured warrants business remained a key contributor, reinforcing the Group's position as Malaysia's leading issuer, with the highest market share in warrants trading volume. Its Asset and Wealth Management division posted revenue of RM303.9 million, an increase of 14.9% year-on-year. The revenue was primarily driven from its institutional and retail segments. Despite higher overhead cost, which led to a PBT of RM47.0 million relative to RM58.7 million in 2023, the division's AUA saw strong growth, closing at RM23.5 billion, an increase of RM1.8 billion year-on-year. The Group's Investment Banking division registered a jump in both revenue and PBT for FY2024, with a 10.0% increase in revenue to RM246.4 million, and an 8.4% increase in PBT to RM6.2 million. This was driven by higher investment income from treasury and fee income, buoyed by a vibrant bond market and capital market. Kenanga Group's Listed Derivatives business continued its growth streak, delivering yet another year of record performance. Revenue climbed 15.3% to RM27.6 million, while PBT surged 24.1% to RM7.8 million, its highest in over a decade. This sustained upward trajectory was fueled by higher trading commissions and interest income, supported by a surge in trading activity across the listed derivatives market. "As we enter 2025, our focus remains on growing our core businesses while accelerating digital transformation. By strengthening recurring income streams, optimising cost efficiencies, and expanding product offerings, we are positioning Kenanga Group for sustainable, long-term growth," added Datuk Chay. "With a legacy that spans over five decades, we continue to leverage our vast experience from navigating market cycles, and create synergies across our ecosystem to drive innovation, expand market reach, and create greater value for our stakeholders," concluded Datuk Chay. Beyond financial performance, Kenanga Group remains committed to responsible and sustainable growth. In 2024, this commitment was reaffirmed with the Group's continued inclusion on the FTSE4Good Bursa Malaysia Index, ranking among the Top 8% of Malaysian public-listed companies. Hashtag: #Kenanga The issuer is solely responsible for the content of this announcement. About Kenanga Investment Bank Berhad (197301002193 (15678-H)) Established for over 50 years, Kenanga Investment Bank Berhad ("The Group") is a leading financial group in Malaysia, offering a wide range of services, including equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing. The Group's digital innovations include the launch of KDi GO, a wealth-centric app, along with game-changing products such as Rakuten Trade, Malaysia's first fully digital stockbroking platform, and Kenanga Digital Investing, an A.I. robo-advisor. Kenanga has garnered multiple awards, including top honours at the Bursa Excellence Awards 2023 and The Edge Malaysia Centurion Club 2023. The Group also secured the Top 20 Overall Excellence and the Niche Cap Excellence Award at the National Corporate Governance and Sustainability Awards 2024. As one of the highest- scoring constituents of the FTSE4Good Bursa Malaysia Index and a Participant of the United Nations Global Compact, Kenanga continues to drive collaboration, innovation, and sustainability in the financial industry. For more information, please visit Kenanga Investment Bank Berhad Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an 'as is' and 'as available' basis and has not been edited in any way. 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