<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on August 2, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Pressured by short-term financial needs, Star Media Group Bhd has proposed to vary the utilisation of RM86 million — part of the remaining balance from its disposal of former subsidiary Cityneon Holdings Ltd — to be reallocated for working capital instead of future investments.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, Star Media said the remaining balance from the disposal of Cityneon in July 2017 of RM360.18 million, stands at RM152.5 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The remaining balance had initially been earmarked for future investments and was targeted to be fully utilised within 24 months from Cityneon’s disposal.</p></div>

<div class=newsTextDataWrapInner><p>However, Star Media said it is still exploring investment opportunities to further complement and enhance its existing assets, as well as other business opportunities which have the potential to deliver strong return on investment and value to shareholders.</p></div>

<div class=newsTextDataWrapInner><p>The board has reallocated RM86 million for working capital, while the remaining RM66.5 million will still be used for future investments.</p></div>


KUALA LUMPUR: Pressured by short-term financial needs, Star Media Group Bhd has proposed to vary the utilisation of RM86 million — part of the remaining balance from its disposal of former subsidiary Cityneon Holdings Ltd — to be reallocated for working capital instead of future investments.
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Star Media reallocates RM86m for working capital

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<p>KUALA LUMPUR (April 25): The Employees Provident Fund (EPF) members, who are below 55 years old, will have an Account 3, in addition to the existing two accounts for their retirement savings, starting May 11.&nbsp;</p>


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<p>Maybank IB is the first from a total of fi...

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