Asia Media Group IPO – Speech by Dato’ Ricky Wong


The following is a transcript of the speech delivered by Asia Media’s CEO Dato’ Ricky Wong on 11 January 2011

 

Bursa Malaysia Berhad CEO Dato’ Yusli Mohamed Yusoff

Asia Media Group Berhad Exec Chairman Datuk Wira Syed Ali Alhabshee

My fellow BOD, Management & Staffs,

Member of the Media,

Distinguished guests,

Ladies and gentlemen,

It is my great pleasure to attend the Listing Ceremony of Asia Media Group Berhad. I must first express my heartfelt thanks to all my Board of Directors and all the professionals who made this possible.

A special thanks to our advisor, sponsor & managing underwriter, PM Securities and underwriter JF APEX securities, our reporting accountant TCH & Co, our lawyer Lee Perara & Tan, our market researcher Frost & Sullivan, the Malaysian Issuing House, the Company Secretaries Symphony Corporatehouse, the Share Registrar Tricor Investor Services, and most importantly, the investors & shareholders of Asia Media Group Bhd.

Today, on the 11th of January of the 2011th, aside from being an auspicious day, Asia Media reached another significant milestone in its corporate history. Four years ago Asia Media was founded with only a handful of members. Our growth has been remarkable. – Today, we are now a public media company with an audience of 1.2 million in the Klang Valley alone. Along the way, Asia Media has won the MSC best start-up company, represented the country in international competition, and held a record as the Largest Transit-TV in the Malaysian Book of Records and many other accolades.

In June 2010, Asia Media was granted the License & Spectrum to Broadcast for our Transit-TV by the Government, – a first for the country. We will use this to expand our Transit-TV coverage to other public transportation networks across the country. We will be able to deliver live news coverage and entertainment programmes on buses, trains, LRTs and taxis very soon. As such, we expect to significantly increase our prominence this year.

The media industry has increasingly become fragmented. In Malaysia, the mass media has traditionally been dominated by a handful of companies.  Asia Media’s Transit-TV has changed the landscape of the Malaysian media industry by pioneering the creation of a new mass-media medium. Advertisers can now reach the same consumers at a fraction of the cost.

The digital out-of-home-advertising industry is forecast to continue on its upward trend overshadowing that of traditional mediums such as print, radio and TV. As most of you are aware, the (KLCI) Kuala Lumpur Composite Index rose to a record 1566 points last week. An article in Bloomberg reported that with an increase in foreign funds into emerging markets and expectations of an early general election, our KLCI benchmark index may surge well beyond 1700 points within the first half of this New Year. That is a 14% increase!

Asia Media is very optimistic about this coming year and we anticipate a strong fiscal year for the company in 2011. As such, we have recently raised our forecast as all the indicators are bullish. The macroeconomics for Asia Media is positive at every level.

Firstly, we have an optimistic macroeconomic outlook. Analysts have reported that the KLCI benchmark index breached an all time high with increased trading volume. Secondly, this bull market is being led by telecommunications related stocks. Thirdly, our media sector is forecasted to continue expanding at an accelerated pace. And lastly, Asia Media expects to increase its market share and dominant position while increasing our revenue on the back of strong financial performance. The general sentiment on emerging market equities remains strong bolstered by the monetary policies of the West.

We look forward to expanding our services across the country this year. Before I hand the floor over, on behalf of Asia Media, I would like to thank our brokers, investors and members of the public who applied for our shares. Our IPO (Initial Public Offering) is oversubscribed by a factor of 21.5x. So it is clear that majority of the public who applied for Asia Media shares will have to purchase it from the open market. It does not take a rocket scientist to figure out where out stock price is heading.

Thank you all for joining me on such an auspicious day. May the year 2011 bring you plenty of health, wealth and prosperity. With Chinese New Year just round the corner, I would like to take this opportunity to wish all of you an early Gong Xi Fa Cai. And for those who have invested in Asia Media, I hope it will bring you a big Ang Pau!

Thank you!

 

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~ by David Wong on January 19, 2011.

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