KUALA LUMPUR (Nov 17): Media Chinese International Ltd (MCIL) expects to record losses attributable to owners of the company of between US$4.5 million (RM21.06 million) to US$5.5 million (RM25.73 million) for the six months ending Sept 30, 2023 (1H2023), compared with the profit attributable of US$1 million (RM4.68 million) reported a year earlier.

In a bourse filing On Friday, MCIL said this increase is primarily attributed to the absence of one-off government grants and subsidies of approximately US$1.9 million recognised in the corresponding period a year prior.

Additionally, there is a decrease in turnover from the publishing and printing segment for the six-month period compared with the corresponding period in the previous year.

MCIL issued this profit warning to its shareholders and potential investors based on a preliminary assessment of its unaudited consolidated management accounts and the 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 six months ending Sept 30, 2023, which is expected to be published in late November 2023," it added.

Shares in MCIL closed unchanged at 15 sen, valuing the group at RM253 million.