Bigger network for Asia Media

Puchong: Asia Media Group Bhd, the country's largest transit-television network operator, plans to launch a terrestrial digital TV station by as early as the first quarter of next year, said its controlling stakeholder Datuk Ricky Wong Shee Kai.
"We have started testing works in Puchong and Shah Alam early this month, and have allocated as much as RM50 million in capital expenditure next year to help us with the launch in the Klang Valley," Wong told Business Times in an interview at his office.

Wong, who owns slightly more than 45 per cent of Asia Media, is also the chief executive officer of the company.
"A partial launch will be done in the first quarter, and by the second quarter, we should be in full swing," said Wong.

He said the first step in the plan to launch the terrestrial digital TV station is to launch the "out-of-home service".

"Out-of-home service means that people who use public transport such as the Rapid buses and the city's rail service will be able to watch live TV," said Wong.

Read more: Bigger network for Asia Media

Asia Media raising profit margins by 50pc

Kuala Lumpur: Asia Media Group Bhd, the country's largest transit-TV network operator, is increasing gross profit margins in the current year by 50 per cent, its controlling shareholder Datuk Ricky Wong Shee Kai said.

Thirty-year-old Wong, who has a first class honours in finance from Lancaster University in UK, owns slightly more than 45 per cent of the company.

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Asia Media is expected to announce its results in a day or two.

Market expectation is nothing less than a 100 per cent growth in net profit for the first quarter ended March 31 2011, from its group level net profit of RM2.17 million posted in the final quarter of 2010, if the company is to match analysts' expectations.

TA Securities, in a report, said Asia Media is forecast to post re-venue of RM31.6 million, alongside a gross profit of RM16.5 million, while net profit is expected to be in the range of RM11.9 million.

Read more: Asia Media raising profit margins by 50pc