Can Tong add lustre to STAR 6084 STAR MEDIA GROUP BERHAD?
Star Media Group Bhd may have been a long forgotten stock having plagued with 2 consecutive years of losses RM132 million in FY2021 and RM20 million in FY2020.
Even before the pandemic struck, the media group has been seeing declining fortunes as readership and circulation numbers fell.
But in recent months, investors have been showing interest in Star.
The counter doubled its value year-to-date, up 105% to close at 62 sen on April 26, making it one of the best performing stocks on Bursa this year.
What’s drawing most interest is news of The Edge Communications’ owner Tan Sri Tong Kooi Ong emerging as a substantial shareholder of Star.
This certainly piques interest as investors expect something brewing between the two media group.
The last time Tong made a purchase in a media-related outfit was business radio station BfM about 10 years ago where he acquired a 23% stake.
This time, it is only a 5.4% stake purchase by the tycoon in Star Media but still significant enough to draw curiosity on what’s in store for the two publications.
Still, it is doubtful if Tong’s entry, other than create a hype on, can bring much value to Star Media.
Officially, Tong said his Star stake purchase was purelye an investment decision as he finds the counter to be undervalued.
He explained that Star Media share price and capitalisation have for several years been trading well below its cash and property assets value and has no debt.
Star Media's largest shareholder is the Malaysian Chinese Association (MCA), which holds a 45.35% stake.
Interestingly, even prior to Tong’s entry, Star Media has seen some 53.3% gain since the beginning of the year until 20 April.
It looks like Tong was not the only one who found Star Media attractive due to its low valuations and turnaround in financials.
After suffering 2 years of consecutive losses, Star Media’s profits have finally rebounded to RM7 million in 2022 on the back of RM217 mil revenue.
Star Media generated operating cash flows of RM30 million in 2022 compared to a loss of RM3 million in 2021, which strips out the change in the valuations of its assets.
Shareholders will also stand to benefit from Star Media’s proposed dividend payment of one sen per share, which has a payment date of June 6.
It is certainly a relief that the counter is finally getting its due attention but how long investors will stay interested is still uncertain as it would be more reassuring if Star Media is able to solidify its financial position moving forward.
#STAR
https://xifu.my/OpinionsComment.aspx?BID=B07313711P3AEAC2https://xifu.my/OpinionsComment.aspx?BID=B07313711P3AEAC2
Singapore Investment
-
-
-
-
Portfolio Summary for June 20253 hours ago
-
-
-
Portfolio Update Q2 202510 hours ago
-
Investing in Saudi Arabia: The Complete Guide10 hours ago
-
-
-
-
Portfolio (June 30, 2025)12 hours ago
-
Portfolio (June 30, 2025)12 hours ago
-
-
Portfolio Update June 202513 hours ago
-
-
-
-
-
-
Portfolio -- June 202516 hours ago
-
Keeping your financial matters in order17 hours ago
-
-
Month of June 202518 hours ago
-
-
June 2025 Updates20 hours ago
-
-
-
“Don’t say it already, all lousy…”23 hours ago
-
-
-
-
-
-
-
-
-
-
-
Batisht crazy!3 days ago
-
-
Will SORA crash to 1 per cent?3 days ago
-
-
-
-
Hello world!5 days ago
-
-
Cut back some exposure6 days ago
-
-
-
-
-
-
8 tips for house moving1 week ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
May 2025 Portfolio4 weeks ago
-
-
-
Thakral - Gem life deal finally coming?4 weeks ago
-
-
-
-
-
-
Clarity1 month ago
-
The Trump Tariffs1 month ago
-
Selling HRnet and Fiverr1 month ago
-
-
-
-
Ignore the noise and be calm2 months ago
-
-
-
-
FAQ on Quantitative Investing Part 22 months ago
-
-
-
-
Crossing the 300k Mark [in a volatile period]2 months ago
-
-
-
-
-
-
-
-
-
ETF vs Mutual Fund: Which is Better?5 months ago
-
-
-
-
-
-
-
Arigato Everyone! A Decade of Blogging!5 months ago
-
Top 10 Highlights of 20246 months ago
-
-
-
Union Square Residences8 months ago
-
-
-
STI ETF9 months ago
-
-
-
Unibet Casino Bonus Codes 20249 months ago
-
-
-
-
The Stigma against Early Retirement (FIRE)11 months ago
-
Monthly IBKR Update – June 202411 months ago
-
-
-
-
-
-
-
-
-
Feb 2024 Expenditure1 year ago
-
-
-
-
-
-
-
Monthly Summary of November 20231 year ago
-
Migration of website1 year ago
-
-
-
-
-
-
Hello SP Group, I'm Back!2 years ago
-
-
-
A New Light2 years ago
-
-
-
-
-
2022 Thoughts, Hello 2023!2 years ago
-
Series of Defaults for Maple Finance2 years ago
-
Takeaways from “Sea Change”2 years ago
-
Greed is Coming Back2 years ago
-
-
-
-
-
-
-
-
What is Overemployment3 years ago
-
Terra Hill Condo (former Flynn Park)3 years ago
-
Alibaba VS Tencent: The Battle Royale3 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-