KUALA LUMPUR (March 20): MCA has been steadily increasing its shareholding in Star Media Group Bhd since August 2022 by acquiring 9.29 million shares, upping its stake by 1.27% to 327.46 million shares or 45.18%, while Amanah Saham Bumiputera (ASB) has been trimming its stake in the media group since the start of this year.
Of MCA's latest shareholding, 14.15 million shares or 1.952% are indirectly held, Star Media's Bursa Malaysia filings on Monday showed. Its latest acquisition involves 892,500 shares, acquired last Thursday and Friday via its investment arm Huaren Holdings Sdn Bhd, Star Media's bourse filing showed. Prior to August 2022, MCA held 318.167 million shares or 43.89%.
ASB, a unit trust fund under Amanah Saham Nasional Bhd — the manager set up by Permodalan Nasional Bhd to handle all its unit trust funds — disposed of 500,000 shares last Wednesday and Thursday, about 0.07% of Star Media's outstanding shares, leaving it with 43 million shares representing 5.933%.
ASB has sold off 12 million Star Media shares representing about 1.656% in the company since the start of this year. Prior to that, ASB held 7.589% representing 55 million shares.
Star Media returned to the black with a net profit of RM6.92 million for the financial year ended Dec 31, 2022 (FY2022), compared with a net loss of RM132.36 million in FY2021, as revenue grew 15.95% to RM216.96 million from RM187.11 million. The group was loss-making in FY2021 mainly due to an impairment of property, plant and equipment of RM71.6 million, and a reversal of compensation income of RM50.5 million.
Star Media shares closed unchanged at 31.5 sen on Monday, giving it a market capitalisation of RM229.01 million.