Kuala Lumpur – Media Prima Berhad (MPB) announced a profit after tax and minority interests (PATAMI) of RM194.8 million for the financial year ended 31 December 2009 against RM86.02 million achieved in 2008. Excluding negative goodwill, exceptional items and losses from Primedia, the Group recorded a commendable PATAMI of RM73.8 million. The solid earnings came on the back of the recovery of the Malaysian economy that gained pace from the early second half of the year, coupled with increased efforts by MPB in boosting its top line figures. Although the Group’s revenue of RM744.02 million for 2009 was 4.8% lower than 2008, the Group has been successful in significantly narrowing down the decline in revenue, which reached 11.5% at the peak of the economic downturn in the first quarter of 2009. The declining trend has, in fact, been reversed in the fourth quarter of 2009, which registered a growth of 4.6% against the same quarter of 2008. The Group has managed to keep its operating expenses in check, growing by a mere 4.7% against 2008. If exceptional items relating to impairment to the value of its properties and write-down of certain assets were to be excluded from operating expenses, the costs to operate the Group did not grow from those incurred in 2008. The Group has also recorded negative goodwill of RM216.1 million from the acquisition of the New Straits Times Press (Malaysia) Berhad (NSTP) and net losses of RM57.1 million from the divestment of the Group’s subsidiary in Philippines, Primedia Inc. Media Prima Berhad announced fresh changes and new introductions to its senior management team. Ahmad Izham Omar will take on the role of Executive Director of 8TV, the station he launched in 2004. As Executive Director, Izham will stay involved in 8TV’s strategic direction but will leave the day-to-day operations to General Manager Lam Swee Kim who will be reporting to Dato Sri Farid Ridzuan, Group Chief Executive Officer of Media Prima Television Networks. This exercise will also simplify and consolidate the management structure of Media Prima TV Networks. Ahmad Izham Omar will now be able to focus on Alt Media, a Media Prima subsidiary focusing on new media, underlining MPB’s emphasis in the digital space. Izham has been CEO of Alt Media since January 2009. Izham will maintain his role as Head of Radio of Media Prima Radio Networks, which owns the radio stations Hot FM (Malaysia’s no.1 radio station), Fly FM and One FM. MPB also announced the appointment of Mohamad Ariff Ibrahim as the new Group Chief Financial Officer of MPB effective 16 April 2010, replacing Amil Izham Hamzah who will not be renewing his contract with MPB. Mohamad Ariff Ibrahim is currently the Chief Financial Officer/Finance Director of NSTP. He started his career with Pricewaterhouse Coopers before joining Malaysia Mining Corporation. He joined NSTP as the Finance Manager in 1993 and was seconded to Commerce Assurance Berhad in 2000. He was the Senior Vice President at CIMB Group prior to being appointed as Director of Operations, CIMB Aviva Assurance Berhad in 2007. Appointed as the Chief Financial Officer/Finance Director of NSTP in January 2009, he brings extensive experience in the media and finance sectors to the Group and his appointment as the Group Chief Financial Officer of MPB will ensure a smooth handing-over and facilitates the integration process between MPB and NSTP. His predecessor, Amil Izham Hamzah, joined the Group in 2002 and was part of the core team that successfully completed the financial and operational restructuring of TV3, and subsequently expanded MPB’s portfolio of investments in media assets.
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