Star Media Group Berhad

$STAR / 6084 (STAR MEDIA GROUP BERHAD)
Research by Kenanga

$STAR / 6084 (STAR MEDIA GROUP BERHAD)

$STAR / 6084 (STAR MEDIA GROUP BERHAD)
Research by TA
Sell - TP RM0.44

"Higher Progress Billings from the Star Business Hub"

Corresponding to our earnings upgrade and incorporating an ESG Premium of 3%, our TP for Star is revised upward to RM0.44 (previously RM0.36) based on a P/BV of 0.45x CY25F BV. However, we maintain our Sell recommendation on the stock due to its unfavourable risk reward potential.

Analyst:
Lee Yun Leon
yllee@ta.com.my

$STAR / 6084 (STAR MEDIA GROUP BERHAD)
Research by Kenanga
Market Perform - TP RM0.45

"Property Sales Surge"

STAR’s 1HFY24 results came above expectations as progress billings from the Star Business Hub (SBH) project soared. The stronger sales translated to a nearly 4-fold increase in 1HFY24 earnings, driven by the property segment as it turned around from a pretax loss. We now forecast higher FY24F-25F earnings, raise our TP by 44% to RM0.45 (from RM0.31) and upgrade our call to MARKET PERFORM from UNDERPERFORM.

Analyst:
Kylie Chan Sze Zan
kyliechan@kenanga.com.my

$STAR / 6084 (STAR MEDIA GROUP BERHAD)
Research by Kenanga
Underperform - TP RM0.31

"Remains in the Red"

STAR’s 1QFY24 results disappointed mainly due to cost and topline weakness at the print segment that led to sustained losses.
Furthermore, sluggish sales at the property segment did little to help earnings turnaround. We forecast higher losses in FY24F-25F, but maintain our TP of RM0.31 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan
kyliechan@kenanga.com.my

Change in Principal Officer - MR TAN HON MENG

Change in Principal Officer - MR LIM SUI YUAN

$STAR / 6084 (STAR MEDIA GROUP BERHAD)

$STAR / 6084 (STAR MEDIA GROUP BERHAD)
Research by Kenanga
Underperform – TP RM0.31

“Remains in the Red"

STAR’s 1QFY24 results disappointed mainly due to cost and topline weakness at the print segment that led to sustained losses. Furthermore, sluggish sales at the property segment did little to help earnings turnaround. We forecast higher losses in FY24F-25F, but maintain our TP of RM0.31 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan
kyliechan@kenanga.com.my

PETALING JAYA: Star Media Group Bhd (SMG) is optimistic its property development and investment segment would compensate for the challenging outlook in advertising expenditure.

PETALING JAYA: Star Media Group Bhd (SMG) has appointed Tan Sri Wong Foon Meng as its new chairman, together with Tan Sri Johan Jaaffar and Datuk Lim Cheng Ling as new directors of the company.

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

Change in Boardroom - DATO LIM CHENG LING

Change in Boardroom - TAN SRI WONG FOON MENG

Change in Boardroom - TAN SRI JOHAN BIN JAAFFAR

Change in Remuneration Committee - MADAM WONG YOU FONG

Change in Audit Committee - DATO LIM CHENG LING

Change in Remuneration Committee - MR LOH CHEE CAN

Change in Nomination Committee - TAN SRI JOHAN BIN JAAFFAR

PETALING JAYA: Star Media Group Bhd (SMG) will be focusing on mergers and acquisitions (M&As) as a means to diversify its income stream going forward, says group chief executive (CEO) Chan Seng Fatt.

General Meetings: Outcome of Meeting

Change in Boardroom - DATO DR MOHD AMINUDDIN BIN MOHD ROUSE

Change in Boardroom - TAN SRI DATO' SERI CHOR CHEE HEUNG

Change in Audit Committee - DATO DR MOHD AMINUDDIN BIN MOHD ROUSE

Change in Remuneration Committee - TAN SRI DATO’ SERI CHOR CHEE HEUNG

Top 10 Highest Net Cash per Market Cap Companies.

In times of economic uncertainty, a company's cash reserves become ever more vital. Nevertheless, simply having large cash reserves doesn't always equate to financial strength. Today, we screened for 10 stocks ranked solely by their net cash divided by market cap, with market cap of at least RM 230mil. A percentage of more than 100% implies the company has more net cash than their market cap.

Did any of your favourite companies make it into the list? It's important to remember that a cash balance surpassing market cap doesn't necessarily signify a bargain, and Stockbitors should remember to do their due diligence in evaluating the company from multiple angles before making any decisions.

How would you improve this screener? Let’s discuss more in the comment section below!

$STAR / 6084 (STAR MEDIA GROUP BERHAD) $DUTALND / 3948 (DUTALAND BERHAD) $INSAS / 3379 (INSAS BERHAD) $MAYBULK / 5077 (MALAYSIAN BULK CARRIERS BERHAD) $KLUANG / 2453 (KLUANG RUBBER COMPANY (MALAYA) BERHAD)

Annual Report & CG Report - 2023 (Amended Announcement)

Notice of Person Ceasing (Section 139 of CA 2016) - ICHC ANSTALT

Notice of Person Ceasing (Section 139 of CA 2016) - THE EDGE COMMUNICATIONS SDN BHD

Notice of Person Ceasing (Section 139 of CA 2016) - TONG KOOI ONG