KUALA LUMPUR (Aug 11): Media Chinese International Ltd (MCIL) said losses attributable to owners of the company may widen to between US$2 million (RM9.17 million) and US$3 million for the first quarter ended June 30, 2023 (1QFY2024), from US$300,000 a year earlier.
This is mainly due to the absence of one-off government grants and subsidies of US$1.4 million recognised in 1QFY2023, and lower turnover from the publishing and printing segment for the quarter under review, the group said in a filing with Bursa Malaysia on Friday (Aug 11).
MCIL said it is issuing the profit warning to its shareholders and potential investors, based on a preliminary assessment of its unaudited consolidated management accounts and information currently available to the board.
“Detailed financial information and performance of the group will be disclosed in the company’s unaudited consolidated financial results announcement for the three months ended June 30, 2023, which is expected to be published in late August,” it added.
Shares in MCIL closed unchanged at 15.5 sen, valuing the group at RM261.5 million.