AMSB still a major shareholder in Media Prima

The group clarified that AMSB still held a 31.9% stake in Media Prima.

PETALING JAYA: Media Prima Bhd has stepped forward to clarify its shareholding structure, after acknowledging some misunderstandings had emerged from its Monday announcements on substantial-shareholder cessations.

The group, through filings with Bursa Malaysia on Monday, had declared that Sutera Bakti Sdn Bhd (SBS), Tradewinds Group (M) Sdn Bhd (TGM), and Restu Jernih Sdn Bhd (RJSB) had ceased to be its indirect substantial shareholders via their deemed interest in Aurora Mulia Sdn Bhd (AMSB).

However, Media Prima said those announcements had inadvertently given rise to the idea that AMSB itself, and indirectly Tan Sri Syed Mokhtar Al-Bukhary, had stopped being substantial shareholders of the group.

The group clarified yesterday in another filing that AMSB had confirmed that it still held a direct interest of 353,815,941 shares, representing 31.9% in Media Prima, while Syed Mokhtar kept his indirect interest in the group by virtue of his shareholding in AMSB.

“The company would like to emphasise that this clarification is intended to ensure complete transparency and address any potential misinterpretations arising from the aforementioned company’s announcement to the Bursa Malaysia on Oct 7, 2024,” Media Prima said.

Although SBS, TGM and RJSB had reduced their indirect interest in Media Prima, AMSB itself maintained its stake in the group.

Leasing Corp Sdn Bhd last month acquired a 5.53% stake in the group, emerging as Media Prima’s latest substantial shareholder through the acquisition of the stake.

In addition, JAG Capital, the investment vehicle of Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani, holds 25% equity in Media Prima while Morgan Stanley & Co holds a 10.18% stake.

The group recorded a net profit of RM33.2mil for its fourth quarter ended June 30 (4Q24), compared with RM2.47mil in the preceding quarter ended March 31, which it said was due to prudent cost-management initiatives.

Revenue in 4Q24, however, was down by 9% to RM193.1mil against RM213.22mil in 3Q24, due to consumer sentiment against certain large global brands and continuous geopolitical tensions impacting advertisement spending.

Meanwhile, Media Prima registered earnings of RM60.5mil for its financial year 2024 (FY24), recording a normalised profit after tax of RM30.5mil for the current financial year, underpinned by improved operational efficiencies and cost-management initiatives.

It announced on Aug 25, 2022, that its financial year-end had changed from Dec 31 to June 30.

Separately, Media Prima said it expected the outlook for FY25, to remain challenging as the advertising market remains susceptible to economic and geopolitical uncertainty.

Petaling Jaya-based Media Prima is one of the largest media and entertainment conglomerates in Malaysia with business interests in television, print, radio, out-of-home advertising, content creation and digital media.