Latest news with #SMG
The Star
27-05-2025
- Business
- The Star
Star Media Group posts revenue of RM59.4mil
PETALING JAYA: Star Media Group Bhd (SMG) recorded revenue of RM59.4mil in the first quarter of financial year ended March 31, 2025 (1Q25), an increase of 12% compared to the same period a year ago. 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".
The Star
21-05-2025
- Business
- The Star
Malaysia's ‘water bank' visits Star Media Group
(Front row) Chan (second from left), Zulkiflee, Wang (right) and Ng, posing for a group photo together with other personnel from Pengurusan Aset Air Bhd and Star Media Group at Menara Star, Petaling Jaya. AN 11-member delegation from Pengurusan Aset Air Bhd (PAAB) paid a courtesy visit to Star Media Group (SMG) with the objective of strengthening ties. PAAB chief executive officer Zulkiflee Omar said the company funds the building, upgrading and repairing of water assets nationwide. 'That's why we refer to ourselves as the country's water bank,' he said. 'We are wholly owned by the Minister of Finance Inc and our mandate from the government is to provide the most economic and sustainable funding to water operators across the country.' Zulkiflee noted that among the major projects PAAB is involved in is phase two of the Langat 2 water treatment plant project. PAAB is also finalising two key projects in Kelantan, including a water treatment plant (WTP) in Bukit Chupak, Gua Musang. Zulkiflee said two WTPs were also underway in Penang, worth over RM1bil. 'We want the public to know what we are doing and hope SMG can help share our journey with the people,' he said. At SMG headquarters in Petaling Jaya, Zulkiflee and his team also toured the studios of Malay radio station Suria FM and Chinese radio station 988 FM before adjourning for light refreshments. SMG group chief executive officer Chan Seng Fatt said they would explore how both entities could work together more closely. Also present were SMG chief operating officer Lydia Wang and chief content officer Datin Paduka Esther Ng. ― By ALISA IDRIS
The Star
20-05-2025
- Business
- The Star
Shining a light on trade successes
Celebrating industry excellence: (Front, from left) Standard Chartered Saadiq Malaysia CEO Bilal Parvaiz, Tio, SMG chief content officer Datin Paduka Esther Ng, Chan, Shahril, Wong, Mastura, Chia, Mak, Jai Shankar and Wang posing with the award winners at EEA 2024 Gala Night. — GLENN GUAN/The Star KUALA LUMPUR: Malaysia's export sector continues to thrive, driven by agile and resilient businesses, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz at the Export Excellence Awards (EEA) 2024 Gala Night. The Investment, Trade and Industry Minister said businesses must adopt forward-looking strategies in today's rapidly evolving global landscape. 'Malaysia's exporters have demonstrated remarkable adaptability and resilience, contributing to the continued strength of our trade sector,' he said in the keynote address yesterday. His speech was delivered by the ministry's deputy secretary-general (Trade) Mastura Ahmad Mustafa. The nation's top exporters were celebrated at the prestigious EEA 2024 Gala Night, recognising outstanding contributions in propelling Malaysia's global trade presence. Organised by Star Media Group (SMG) in partnership with Standard Chartered Malaysia, the EEA marks its fifth year as a premier platform showcasing exemplary Malaysian exporters who have demonstrated innovation, resilience and excellence in the international marketplace. A total of 30 outstanding exporters were honoured across 14 award categories, celebrating their achievements across various sectors and company sizes. Notable accolades included the Special Award: Rising Star, presented to Euro Facade (M) Sdn Bhd; Woman Exporter of the Year (SMEs) to Joanne Tay of KJH Wood Industrial Sdn Bhd; and Woman Exporter of the Year (Mid-tier and Large Companies) to Sarah Ho of Hovid Bhd. GPRO Global Sdn Bhd and Swift PMAS Sdn Bhd were named Exporters of the Year for the SME and Mid-tier/Large Company categories, respectively. Tengku Zafrul further highlighted the strategic importance of the EEA, saying the collaboration between SMG and Standard Chartered Malaysia is a testament to how strategic partnerships can drive industry growth. 'Since its inception five years ago, the EEA has played a crucial role in showcasing and elevating Malaysia's top exporters in the global arena, reinforcing our nation's competitiveness. 'It also fosters a robust ecosystem that encourages knowledge-sharing, best practices, and capacity-building among industry players,' he said. Among the distinguished guests present were SMG chairman Tan Sri Wong Foon Meng, Standard Chartered Malaysia chief executive officer (CEO) Mak Joon Nien, SMG group CEO Chan Seng Fatt, Standard Chartered Malaysia chairman Datuk Yvonne Chia, Standard Chartered Malaysia independent non-executive director Tan Sri Shahril Ridzuan, Matrade Export Promotion and Market Access Division senior director S. Jai Shankar, PKT Logistics Group group chief executive and managing director Datuk Seri Dr Michael Tio and SMG chief operating officer Lydia Wang. Mak provided a broader economic perspective in his remarks, highlighting global fiscal trends and technological disruption. 'Back in 2019, the US government debt-to-GDP ratio stood at 74%. Today, it has risen to 124%, marking a 70 percentage-point increase in just five years,' he said. Drawing comparisons with Malaysia, Mak noted: 'Despite having seen four different governments since 2019, Malaysia has displayed remarkable resilience, maintaining an average GDP growth of around 4% over the last five years. This underscores the strength of our economic fundamentals.' Mak also pointed to the country's performance in the EEA, where over 60% of submissions since 2019 have come from high-value industries. 'Export performance has grown from RM986.4bil in 2019 to RM1.508 trillion in 2024 – a 53% increase – demonstrating the country's ability to recalibrate and thrive,' he added. In his address, Chan emphasised the EEA's founding vision. 'The EEA was established with a clear purpose – to shine a spotlight on Malaysian exporters who have successfully carved their mark in global markets. 'Over the past five years, we have witnessed remarkable growth, resilience and inspiring success stories that have solidified Malaysia's reputation as a dynamic trading nation,' he said. Chan also underscored the growing importance of digitalisation and sustainability in trade. 'Our exporters have shown an extraordinary ability to weather economic uncertainties and embrace digital transformation, sustainability and global expansion as the new cornerstones of success. 'The future of Malaysian exports lies in these pillars, which will ensure our continued competitiveness on the world stage,' he said. PKT Logistics Group co-sponsored the EEA 2024, with Matrade serving as patron and BDO as the official auditor.
The Star
15-05-2025
- Health
- The Star
Free medical check-ups part of CSR event by mStar, healthcare firm
Chin handing a bag of needed items to a recipient. Also present is Tung (in white). — Photos: LOW BOON TAT/The Star A mobile clinic will be stationed at Lorong Haji Taib, Kuala Lumpur, fortnightly to provide free check-ups for residents and the homeless in Chow Kit. The mobile clinic, operated by KPJ Healthcare Bhd, was present during the corporate social responsibility event organised by Star Media Group's (SMG) Malay entertainment-and-lifestyle portal mStar in collaboration with KPJ Healthcare. A team of volunteers from both organisations descended on Chow Kit to carry out the 'Ziarah Jalinan Kasih' programme. The recent event at Lorong Haji Taib 2 saw a spread of dishes laid out for 600 of the asnaf (destitute), including the homeless. A mobile clinic providing free medical check-up to the people in Chow Kit during the charitable event. The charity project is in its second year, after the first collaboration last year received encouraging response. mStar chief news editor Niezam Abdullah said 'Ziarah Jalinan Kasih' was a special project with KPJ Healthcare to support the homeless and others in need. He said, KPJ set up mobile clinics to provide free health checks to the people, who could also get health advice from KPJ doctors. He added that mStar provided publicity to raise awareness for society to continue helping people in need, regardless of their background. Meanwhile, KPJ Healthcare president and managing director Chin Keat Chyuan said, 'KPJ Healthcare is committed to working with mStar and Bank Muamalat to bring healthcare services to those in need.' Niezam (left) serving food to visitors. Also present at the CSR event were KPJ Healthcare chief operating officer Datuk Mohamad Farid Salim, Bank Muamalat social finance department head Zaharuddin Alias, SMG executive editor Tung Eng Hwa and non-governmental organisation Jejak Jalanan's Mohd Azhan Mohd Adnan. The event started with a health talk by Dr Syafiruz Azira Saleh. There were also performances from Caliph Buskers singer Fendi and Nurul Shakina Abdullah Teh, a former Paralympic athlete.
Miami Herald
03-05-2025
- Business
- Miami Herald
Scotts Miracle-Gro CEO raises eyebrows with tariff comments
Feed your stock. Feed it. TV viewers may recognize the variation of the Scotts Miracle-Gro (SMG) tagline that's in a series of commercials featuring the Scotts Lawn Guy, an aggressive Scottish character with an intense passion for lawns. Don't miss the move: Subscribe to TheStreet's free daily newsletter Perhaps the Lawn Guy could exhort shares of the consumer lawn, garden and pest control products company into turning greener. The Marysville, Ohio, group's shares are down 20% since January and off nearly 22% from a year ago. Scotts also brought the lifestyle expert Martha Stewart on board as chief gardening officer. "Spring is probably one of my favorite times of the year," Stewart said during the company's April 30 earnings call. "Everything is coming alive, and I personally can't wait to get my gardens fully planted." Stewart told analysts that she was working to bring gardeners, "including the new generation, products that they will love and make part of their everyday lives." "And that is a very good thing," she said, and then handed the mic over to Chief Executive Jim Hagedorn. "It's a crazy and confusing macro environment for any company today, but I can simplify things," he said. "We're good. Our outlook is unchanged and we're reaffirming our full year guidance of $570 million to $590 million" of earnings before interest, taxes, depreciation and amortization. More Economic Analysis: Fed inflation gauge sets up stagflation risks as tariff policies biteU.S. recession risk leaps as GDP shrinksLike it or not, the bond market rules all As for the Trump administration's tariffs, which have been dominating the news and clobbering the markets, Hagedorn said "we're largely unaffected in fiscal '25." "We see no impact in our margins or pricing for this year," he said. "Historically, our equity has been a safe harbor in tough times. Everything you'll hear today is centered around getting back to that." Hagedorn told analysts that Scotts had plenty of pretariff inventory, and "we do not anticipate pricing actions in fiscal '25 due to tariffs, nor do we expect margin pressure. "If things change in '26, and we do feel more tariff and/or margin pressure, we will mitigate the impact and if necessary, take pricing," he said. Scotts posted mixed first-quarter results, beating earnings estimates but falling short of Wall Street's revenue forecasts "We delivered double-digit increases in consumer takeaway, gained market share and built momentum," Hagedorn said. "We're happy with our consumer product sales to retailers." He said unit volumes in the lawns business had declined and he challenged the team to develop a long-term solution. Early results have been promising.. "Consumers want a nice lawn all season long without a lot of work, but they don't always know how to make it happen," Hagedorn said. "The solution is regular feedings, to create a thicker lawn that is less susceptible to weeds and disease and ultimately has less need for pesticides and fungicides." However, the company got away from marketing regular feedings, and scrapped the one-bag approach for multibag use for specific problems such as weeds, bugs or disease. "It was effective in selling one bag of fertilizer, but it was ineffective in giving the consumer the lawn they really want," Hagedorn said. "This year, we've returned to a multibag strategy." Scotts also decided to pass the dutchie on the left hand side and get out of the cannabis business. Scotts had created a subsidiary for the business, Hawthorne, which made acquisitions in companies that sold marijuana cultivation supplies, and invested in a Canadian business directly involved in growing and selling marijuana. Related: This legacy snack company is embracing stoners But last month the company transferred its investment in the growing and distribution business to Bad Dog Holdings, an "independent strategic partner." "We figured we'll be an early entrant, and that within three to five years - this is like 10 years ago - the feds would make the laws so that it wasn't federally a Schedule 1 narcotic," Hagedorn said in an interview with Barron's. "We had a lot of faith the Democrats would do it." "Equities in pot companies were at a peak when Biden got elected, and you had a Democratic Senate and a Democratic House." Weed is still illegal on the federal level and "you cannot deduct your business expenses," Hagedorn said. "Your top-line revenue is your taxable income, so you're paying about an 80% tax rate," he explained. "Throw on state and local taxes, and you cannot make money." Hagedorn told analysts that "our next step is to sell Hawthorne Gardening to a dedicated cannabis company, by fiscal year end." JP Morgan analyst Jeffrey Zekauskas lowered the investment firm's price target on Scotts to $65 from $80 and affirmed an overweight rating on the shares. After the earnings report the firm reduced its estimates for Scotts' Ebitda, citing lower trading multiples in a period of greater economic risk. Related: Veteran fund manager who forecast S&P 500 crash unveils surprising update The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
