VGI to Buy Stake in M#sian OOH Ad Firm to Enhance Asean Presence

Stocks and Financial Services Press Releases Monday November 27, 2017 11:35
Bangkok--27 Nov--MT Multimedia

VGI's executive board approved a proposed acquisition of 4,281,277 shares (par value: MYR 1), or 25% of the issued shares, in Puncak Berlian Sdn Bhd (or PBSB), an OOH ad firm in Malaysia, in the company's latest move to increase its presence in the Asean advertising platform industry.

Mr Nelson Leung, deputy chief executive officer (deputy CEO) of VGI Global Media PCL, or VGI, Thailand's first leading operator of integrated out-of-home (or OOH) advertising platforms to have Big Data access, revealed that on 16 November VGI's executive board unanimously resolved to approve an acquisition of 4,281,277 shares of common stock (par value: MYR 1 each), or 25% of the issued shares, in Puncak Berlian Sdn Bhd (or PBSB), a provider of OOH advertising platform solutions in Malaysia, from Redberry Sdn Bhd, a current shareholder, by VGI Global Media (Malaysia) Sdn Bhd (or VGM), a VGI subsidiary incorporated in the country, at a tentative price of MYR 13,154,175, or approximately THB 105,233,400.

PBSB maintains a diverse range of OOH advertising platforms, including at main airports, low cost carrier terminals, mass transit facilities, office towers, etc. The acquisition, if successful, would facilitate the implementation of VGI's strategy to increase its presence in the OOH segment regionally, particularly in Malaysia, a market with high growth potential. The deal is expected to be completed by February 2018.


Latest Press Release

WICE establishes a joint-venture, EUROASIA TOTAL LOGISTICS, with its holding 40% of shares to provide cross-border transport services between China, Hong Kong

WICE establishes a joint-venture, "EUROASIA TOTAL LOGISTICS", with its holding 40% of shares to provide cross-border transport services between China, Hong Kong, and South East Asia with the expectation to achieve the first year's revenue at 200 million...

Photo Release: Krungsri Asset Management wins Best Asset Fund Manager 2018 from Alpha Southeast Asia

Miss Siriporn Sinacharoen, Managing Director, Krungsri Asset Management Company Limited received the Best Asset & Fund Manager Award 2018 from Alpha Southeast Asia magazine at a presentation ceremony on 18 September 2018. Behind-success factors...

Bangkok Bank Public Company Limited Offshore Offering and Issuance of US$1.2 Billion Senior Unsecured Notes under its US$3,000,000,000 Global Medium Term Note Program

Bangkok Bank Public Company Limited (the Bank), acting through its Hong Kong Branch, has offered and issued the following 2 tranches of US$1.2 billion senior and unsecured notes (the Notes) under its US$3,000,000,000 Global Medium Term Note Program to...

KBank-Visa to pilot blockchain based B2B payments

Kasikornbank is the first Thai bank in the pilot designed to simplify the cross-border payments, making it more transparent Visa today announced Kasikornbank is the first Thai financial institution to join the Visa B2B Connect pilot program. Visa B2B...

Photo Release: KBank offers financial facility to a leading plastic packaging company

At KBank Head Office, Mr. Thawee Teerasoontornwong (5th from right), KBank Executive Vice President, Mr. Wiwatana Panithansirikul (5th from left), Chief Executive Officer, and Ms. Suporn Panithansirikul (4th from left), Executive Director of S.P. PetPack...

Related Topics