- Duty Free International plans Capital Reduction exercise to improve shareholders’ return on equity
- This exercise is anticipated to ameliorate the Group’s capital structure for long term efficiency
Duty Free International Limited, the largest multi-channel duty free and duty paid retail group in Malaysia with strategic locations across Peninsular Malaysia, today announced that it intends to undertake a capital reduction exercise (“Capital Reduction”) to return to shareholders its surplus capital through a cash distribution of S$0.035 for each ordinary share in the share capital of the Group held by its shareholders (“Cash Distribution”).
mm2 Asia Ltd. today is pleased to announce its wholly-owned subsidiary, mm2 Entertainment’s latest venture into content streaming services with the debut of mPlay Asia (“mPlay”), slated to launch in April 2020 in key Chinese-speaking markets – Singapore, Malaysia, Taiwan and Hong Kong.
mPlay is a free-to-use video streaming platform that features quality Chinese-language short-form content. mPlay targets young urban professionals who seek fun and informative videos that fit with their fast-paced and flexible consumption habits. Fresh, original and curated videos, between 3-5mins in duration, will be uploaded weekly for live streaming and video on demand viewing. The short-form format is designed especially for mobile streaming and allows users extreme flexibility to enjoy the content at their convenience. mPlay’s launch will focus on key Chinese-speaking markets including Singapore, Malaysia, Taiwan and Hong Kong that have an addressable audience size of over 40 million.
mPlay will also have live-streaming capabilities to bring events of interest ‘live’ to its viewers. Developed together with technology provider ESP xMedia, the mPlay platform will progressively develop and introduce enhanced features including personalisation, interactivity and ecommerce capabilities.
UnUsUaL Limited (SGX: 1D1) today announced its financial results for the second quarter ended 30 September 2019 (“2Q FY2020”) and half year ended 30 September 2019 (“1H FY2020”).
The Group recorded a strong revenue growth of approximately S$10.8 million or 57.5% to S$29.6 million in 2Q FY2020, primarily attributed to the higher revenue contribution from the Promotion segment. In tandem with its revenue growth, the Group’s gross profit increased by S$2.4 million or 38.1% from S$6.3 million in 2Q FY2019 to S$8.7 million in 2Q FY2020.
The Group continue to deliver growth, registering a net profit increase of 54.8% and 8.7% to S$5.0 million in 2Q FY2020 and S$6.1 million in 1HFY2020 respectively.
Commenting on the Group’s 2Q FY2020 results, Chief Executive Officer of UnUsUaL, Mr Leslie Ong said, “UnUsUaL delivered an exceptional quarter. We see a rising demand in live events, as there is a growing number of audiences who value live experiences and willing to spend more on events and live shows. We will continue to strengthen our current platform and services for the artists and bring more remarkable shows to the global markets. We have the right strategies in place and remain focused on achieving our targets.”
- Revenue improved to S$68.4 million in 2QFY2020, bolstered by higher contributions from its Events and Post-Production businesses
- Achieved net profit of S$5.3 million in 2QFY2020
- Core business remained steady, with increasing co-productions in Southeast Asia and a slate of deals related to theatrical movies and Over-The-Top (“OTT”) content production
- Cinema segment saw higher 2QFY2020 profit before tax, despite lower revenue, due to operational optimisation from inter-alia, increased cost efficiencies
mm2 Asia Ltd. today announced its financial results for the threemonths ended 30 September 2019 (“2QFY2020”) and half-year ended 30 September 2019 (“1HFY2020”).
Executive Chairman of mm2 Asia, Mr Melvin Ang (洪伟才) noted, “We remain confident in our key strategy and believe that we are on track to maintain our momentum in FY2020. Having established a strong foothold and proven track record in the Chinese markets in Asia, we are poised to take advantage of the opportunities arising from the surge in demand for Asian content. Our regional presence and strong network in Southeast Asia and North Asia provide us direct strategic access to audiences, valued IPs and talents across multiple markets. Our Core and Cinema segments continued on a steady trajectory with a slate of production deals and a notable pipeline of blockbuster title releases in FY2020. The Group has also been gaining positive traction during the fiscal period, particularly in our Events and PostProduction segments, where UnUsUaL delivered an exceptional quarter and Vividthree posted turnaround earnings. We are encouraged by how far we have come, and will continue to drive the Group’s performance with the solid foundation that we have built across all our businesses.”
- The Group will maintain profitability and deliver sustained growth for the full fiscal year- with remaining revenue from the Xingwen County project expected to be recognised in subsequent quarters
- Exploring new partnerships and smart city projects with major
shareholder, KOSDAQ-listed, Magic Micro
Raffles Infrastructure Holdings Limited (SGX: LUY) today is pleased to announce its financial results for the financial quarter ending 30 September 2019 (“1QFY2020”).
Confident of full year profitability FY2020
Raffles Infrastructure reported an earnings turnaround in FY2019 mainly due to the earnings contribution from its Xingwen County Rural Road Infrastructure Project, which is estimated to be worth about S$110 million. The local authorities have accepted 5 out of the 26 parcels of
project to be delivered to date- the rest of the parcels and revenue expected to be delivered and recognised by the end of FY2020.
Annotating on its financial results, Mr Eric Choo, Chief Executive Officer of Raffles Infrastructure, said, “In FY2019, we demonstrated our capabilities to improve our profitability. The construction for the Xingwen County Rural Road Infrastructure Project is ongoing, we are on track to deliver the rest of the road parcels to local authorities by the end of FY2020. Based on its current view of the business, we are optimistic that the Company will maintain profitability and while delivering sustained growth for the full fiscal year. We’re also continuing to advance our strategy and continue building new opportunities, pursues the appropriate strategies to create value for our shareholders.”
- Net Profit surged 30.9% Y-O-Y to RMB 26.0 million
- The group’s focus remains on maintaining financial discipline and reliable operations
- Anticipates a positive financial result in upcoming quarters
Sinostar PEC Holdings Limited (SGX: C9Q), one of the largest producers and suppliers of downstream petrochemical products within the Shandong Dongming Petrochemical Industrial Zone, today announced its financial results for its three months ended 30 September 2019 (“3Q2019”), recording a surge of 30.9% Y-O-Y in its net profit to RMB 26.0 million.
Mr Zhang Liucheng, Chief Executive Officer and Executive Director of Sinostar PEC, commented, “Notwithstanding the periodical maintenance of our production plants that affected our overall production, we are pleased to have registered an improvement on our financial front in this fiscal quarter. With the completion of the plant maintenance in end August, we remain confident in maintaining our positive momentum as we continue to produce value-added products that will help bolster our revenue contributions. We’re also continuing to advance our strategy, making strong progress with our plans and building new opportunities.”
GEM COMM: Synagie Corporation Ltd. (SGX: V2Y) (“Synagie”, “思腾控股有限公司”, the “Company”, or the “Group”), Southeast Asia’s leading e-commerce enabler assisting brands to execute their e-commerce strategies using its cloud-based platform, is pleased to announce that it logged more than S$3.0 million GMV sales during this year’s 11.11 Singles Day bonanza, recording an increase of approximately 3 times compared to 2018 in the 24-hour online shopping marathon.
Co-founder & Executive Director of Synagie, Ms Olive Tai said, “We are delighted to have maintained our positive momentum each year to meet the demands of millions of shoppers in the region during large-scale online shopping events like Singles’ Day, which has marked a new milestone for us as we set another higher record this year. The remarkable GMV sales performance within a 24-hour period has signified the continuous uptrend of e-commerce and the rising purchasing power of consumers and millennials. As the leading e-commerce enabler in Southeast Asia, we are poised to ride on the e-commerce boom and
look forward to setting more sales record in the near term.”
- Entered into a Memorandum of Understanding (“MOU”) to develop the Doraemon
- Experience (“DE”) show with integration of Virtual Reality (“VR”) and Augmented Reality (“AR”) elements
- Teamed with Resorts World Genting to create and develop the ‘Train to Busan Horror House’ show, a first-of-its-kind hyper-reality immersive experience
- Inked MOU with Malaysia Institute of Economic Research and Science Discoveries Sdn Bhd as the exclusive technology provider for a RM1.3 billion tourism mixed development in Malaysia
Vividthree Holdings Ltd. (SGX: OMK), a virtual reality, visual effects and computer-generated imagery production studio (“Vividthree”, the “Company” or the “Group”) today announced its financial results for the second quarter ended 30 September 2019 (“2QFY2020”) and half year ended 30 September 2019 (“1HFY2020”).
Managing Director of Vividthree, Mr Charles Yeo commented, “We are encouraged by the improvements we have seen in this set of results. Our Post-production segment continues to provide the base for the Group’s profitability in this quarter. We have been gaining positive traction in the Content Production segment after we rolled out TTB VR Tour Show in Beijing and Xiamen. We want to grab every opportunity to adapt and produce a different concept of immersive experiences like the recent launch of the ‘Train to Busan Horror House’ in Resorts World Genting. The Group continues to grow its content development capabilities with the recent announcement on the MOU to create and develop ‘Doraemon Experience’. We continue to be confident in maintaining our current position in this industry.”
- Appointed as Exclusive Technology Provider for Tourism Mixed Development Project- HeurêkaLand
Vividthree Holdings Ltd. (SGX: OMK), a virtual reality, visual effects and computer-generated imagery production studio is delighted to announce that it has entered into a Memorandum of Understanding (“MOU”) with the Malaysia Institute of Economic Research (“MIER”) and Science Discoveries Sdn Bhd (“SD”) as the exclusive immersive technology, gamification and IT production provider for the HeurêkaLand Project, which is worth a total estimated value of RM1.3 billion.
SD has also appointed Vividthree as its exclusive partner in technology support, content creation and the main contractor for all its immersive experience projects.
Through this exclusive partnership, Vividthree will provide technological expertise and content development for the HeurêkaLand Project. The immersive experience and entertainment content for the project is budgeted at an estimated RM130 million (S$43 million). Through the strategic partnership with SD, Vividthree looks forward to greater growth in Malaysia, and future opportunities through SD’s network and strong pipeline of projects.
Vividthree Holdings Ltd. (SGX: OMK), a virtual reality, visual effects and computer-generated imagery production studio (“Vividthree”, the “Company” or the “Group”) is pleased to announce that it has been engaged to create and produce the first-of-its-kind immersive experience ‘Train to Busan Horror House’, which was officially launched at Resorts World Genting (“RWG”) on 31 October 2019.
Chief Executive Officer of Vividthree, Mr Jed Mok commented, “After we launched TTB VR Tour Show in China, our TTB IP has gained a lot of attention and interest from various partners. We have further capitalised on our TTB IP to create and produce a brand new TTB Horror House concept show for Resorts World Genting, one of the leading integrated resort in the world. The commissioned project is a testament to our creative capability in great story, and seamless integration of technologies. We will seize opportunities to conceptualise and create unique immersive experiences for the world.”