SMG looks towards diversification as weak economy hurts performance

SMG group CEO Alex Yeow on Monday said that going forward, the group aims to have 30% of its revenue come from new businesses that may be related to property or digital products.

PETALING JAYA: Star Media Group Bhd (SMG) has announced a net loss of RM14.2mil for the first quarter ended March 31,2021 from RM3.9mil reported in the same quarter a year ago.

Revenue dropped to RM42.6mil from RM65.8mil with the softness in Malaysian economy coupled by the effects of Covid-19 and the recent Movement Control Order affecting the topline.