KUALA LUMPUR (May 28): Media Chinese International Limited (KL:MEDIAC) recorded a wider net loss of RM32.56 million for the fourth quarter ended March 31, 2024 (4QFY2024), compared to a RM10.05 million net loss a year earlier.  

Media Chinese, which is listed on Bursa Malaysia and the Hong Kong Stock Exchange, has been loss-making for five consecutive quarters. The group attributed its latest quarterly losses to impairment provisions for certain plant and machinery, as well as intangible assets.

Revenue for 4QFY2024, however, rose 5.74% to RM156.94 million from RM148.42 million, driven by recovery in its travel segment. However, this was partially offset by a 10.7% decrease in revenue from the publishing and printing segment.

The group declared an interim dividend of US$0.15 cents (equivalent to RM0.70) per share, to be paid on July 9.

For the full FY2024, Media Chinese posted a RM61.06 million net loss as opposed to RM1.16 million in the previous year although revenue rose 10.83% to RM695.54 million from RM627.59 million.

On prospects, Media Chinese chief executive officer Francis Tiong said the group’s operating costs are anticipated to remain high due to elevated commodity and energy costs, as well as a strong US dollar.

“The management will continue to closely monitor the economic and political developments, adopt a cautious and prudent approach to cost management and ensure operational efficiency and effectiveness in all business units,” he said in a statement.

Shares of Media Chinese closed down half a sen or 4% to 12 sen on Tuesday, valuing the group at RM202.5 million.