NMG chief Suthichai outlines ambitious growth strategy
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Shareholders of Nation Multimedia Group yesterday overwhelmingly approved a capital write-down to eliminate accumulated losses, which will enable the company to start paying dividends.
The shareholders’ meeting took place at lebua Hotel, followed by a meeting with a group of financial analysts. They were introduced to the new management team led by new chairman Suthichai Yoon, vice chairman Sermsin Samalapa and chief executive officer Duangkamol Chotana.
The shareholders were presented with NMG’s growth strategy on broadcasting, education and international businesses.
NMG wrote down capital from Bt2.5 billion to Bt873.3 million, with a new share par value of Bt0.53. The strategy will slash the group’s accumulated losses to only Bt2.01 million.
The company declared net profit of Bt104.28 million for 2011 despite the floods in the last quarter of the year.
NMG is publisher of The Nation, Krungthep Turakij and Kom Chad Luek newspapers. It also operates broadcasting businesses and publishes books. The company recently took over a university to enter the education field.
Under the new-blood executive structure, the group will march forward with its C=ME3 strategy, concentrating on consumer and content through a multi-platform, multi-content and multi-region concept as well as edutainment, entertainment and e-business, to drive its business growth.
Suthichai added that the group had been approached by Eleven Media, a private local media company in Myanmar, to publish newspapers in both the Burmese and English languages, which would support the company’s business expansion.
“We have a strong foreign media network – Asia News Network – which comprises 21 media in 18 countries to support us, while our news will reach 15 million people in Asia. This is our strength,” Suthichai said.
It is forecast that the group’s media reach will double to reach 70 million people in the next five years.
Group president Duangkamol added that the strategy would allow the company to achieve sustainable growth through the next five years. It will help the group achieve balanced income and reduced risk. The plan aims to increase income from digital and broadcast media to 40 per cent of total revenue, and education to 20 per cent, while print-media income will go down from 60 per cent to 40 per cent in the next five years.
She said the group would also launch two new satellite TV stations – Krungthep Turakij Television targeted at businesspeople, and Kid Zone to capture more youngsters.
