PETALING JAYA: Star Media Group Bhd (SMG) is embarking on a number of new initiatives to transform the business and optimise shareholders’ return by penetrating into new ventures. SMG group CEO Alex Yeow said going forward, the group aims to have 30% of its revenue come from new businesses that may be related to property or digital products. Yeow explained that currently 70% of the group’s revenue was newspaper-related, and the remaining 30% was from segments such as radio and events. “Going forward, we want to change this to 40% (newspaper-related): 30% (segments such as radio and events): 30% (diversification into new businesses). Yeow said the diversification into new businesses can be funded by the group’s cash and cash equivalents.

Source: The Star May 25, 2021 00:22 UTC