Star Publications (Malaysia) Bhd, which has obtained shareholders’ nod to change its name to The Star Media Group Bhd, has unveiled five strategies to enhance its presence in the digital media and improve its revenue for the 2015 financial year.

Chairperson Fu Ah Kiow said the transformation was important for the company to stay attractive to its readers while introducing new value-added services.

“The strategies include a digital transformation presenting whatever news content we deliver and increasing news video content in the fastest manner possible through various channels such as print, radio and online television,” he said at the company’s 43rd annual general meeting in Petaling Jaya.

For the financial year ended Dec 31, 2014, Star Publications reported a marginal drop in both its pre-tax profit and revenue. Pre-tax profit fell to RM153.42 million against RM192.59 in 2013 while revenue was slightly lower at RM1.013 billion versus RM1.025 billion in 2013.

Fu said the company would also be launching a new mobile application (app) this month with more video content as it realised that the number of people who view video in Malaysia on some news portals had increased compared with the conventional television channels.

This mobile app would allow subscribers to view news such as breaking news, crime, lifestyle as well as entertainment, he said.

With all these plans in the pipeline, he said Star Publications hoped to stay bullish this year while slowly reducing its dependency on print segment, which currently contributes 70 percent to group revenue.

Meanwhile, managing director and chief executive officer Wong Chun Wai said the group would introduce ‘Audience Interest Marketing’, an audience targeting system that can direct advertisers to their audiences, in June.

On other developments, Star Publications expects its Singapore-based subsidiary, Cityneon Holdings Ltd, to contribute significantly this year.

To recap, Cityneon has secured the rights to provide exhibition services for the famous Marvel characters in a S$21 million deal to be financed by a combination of cash and shares.

Cityneon was reported to have signed  an agreement with Philadelphia Investments Ltd to acquire the entire share capital of Victory Hill Exhibitions Pte Ltd that holds the rights to operate, market and promote the Marvel exhibits for display in museums and science centres or other similar venues.  

The Marvel characters include the Hulk, Captain America, Iron Man, Thor and Spiderman.

Cityneon is a leading provider of solutions for interior architecture, experiential environment, events and exhibitions.

- Bernama