entertainment

mm2 Asia's FY19 earnings fall 14.7% to $19.1 mil on net margin decline

SINGAPORE (May 31): mm2 Asia reported $6.2 million in earnings for the 4Q ended March, down 7.5% from $6.7 million a year ago due to lower revenue and expansion costs.

This brings the group’s full year earnings to a total of $19.1 million, representing a 14.7% decline from $22.4 million in FY18.

As Disney leads way in global entertainment content, Cityneon aims to ride on its coat-tails

SINGAPORE (Jun 3): Avengers: Endgame may have smashed box-office records, but it disappointed some fans. One moviegoer was reported to have needed counselling because she was grief-stricken: Could Iron Man really be gone?

“It is pretty impossible Avengers: Endgame will be the end [of The Avengers]. Disney spent US$4.24 billion to buy Marvel Studios,” says Ron Tan, executive chairman and group CEO of Cityneon Holdings, which was privatised in January. Sequels, prequels and spin-offs are likely to continue, he indicates.

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UnUsUaL reports 32% higher FY19 earnings of $13.2 mil on improved revenue & margins

SINGAPORE (May 27): UnUsUaL Limited has reported $13.2 million in net profit for the FY19 ended March, representing a 32% increase from FY18 net profit of $10 million due to higher revenue and improved margins.

Revenue for the full year rose 22.6% to $56.9 million compared to $46.4 million a year ago.

The topline growth was mainly attributed to higher revenue contributions from the company’s Promotion and Others segments.

Lifebrandz 2Q losses widen 18% to $0.6 mil on higher sales activities, business expansion

SINGAPORE (Mar 14): Lifebrandz saw its losses in 2Q widen 18% to $0.6 million from $0.5 million a year ago, mainly due to an increase in total expenses which the group attributes to higher sales activities and business expansion.

Genting Singapore sees 4Q earnings rise 12% to $150 mil on higher visitors, hotel occupancy

SINGAPORE (Feb 21): Genting Singapore (GENS) announced earnings of $150.2 million for the 4Q ended Dec 2018, rising 12% y-o-y from its earnings of $134 million in 4Q17 due to higher revenue.

This brings the group’s earnings for the full year to $755.4 million, up 10% from $685.6 million in the previous year.

mm2 Asia remains a 'buy' for Maybank despite reduced forecasts on non-operational leakage

SINGAPORE (Feb 21): Maybank Kim Eng is maintaining its “buy” call on mm2 Asia while lowering its target price on the stock to 34 cents from 57 cents previously, after cutting 2019-21E core profit forecasts by 48%, 12% and 9%, respectively.

This comes after the group’s 9M19 core profit came in below expectations at 34% of Maybank’s FY19 estimates, and 67% of previous consensus forecasts.

See: mm2 Asia posts 59% drop in 3Q earnings to $2 mil on higher expenses

Time to place bets on Genting Singapore as stock is now looking cheap, says RHB

SINGAPORE (Nov 16): RHB Research is maintaining its “buy” rating on Genting Singapore with a lower target price of $1.23 compared to $1.42 previously after updating DCF assumptions and rolling over the valuation base year to FY19.

At the share price of 93 cents, RHB thinks the stock is undervalued as it is trading at a discount to its five-year EV/EBITDA average of 10 times.

The revised target price translates to an implied EV/EBITDA of 9 times, which the research house deems close to Genting Singapore’s historical average.

mm2 Asia still a decent 'buy' even as growth hits a snag, says DBS

SINGAPORE (Nov 16): DBS Vickers Securities is maintaining its “buy” call on mm2 Asia with a lower target price of 50 cents compared to 62 cents previously, after the group’s 1H19 results came in below expectations.

To recap, mm2 Asia reported revenue of $113.9 million for 1H19 after 2Q net earnings were hit by higher interest costs, including a one-off charge in relation to its purchase of Cathay cinema.

Life without limits

SINGAPORE (Oct 29): From beauty and politics to entertainment and even campaigning for the democratisation of space, Eunice Olsen has conquered it all. The former Miss Singapore Universe 2000 has not only been the face of iconic television shows such as the Singapore edition of Wheel of Fortune, but she was also the youngest person to be appointed Nominated Member of Parliament at the age of 27 in 2005. She then went on to bag a number of youth awards.

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Netflix crushes estimates, renewing faith after July letdown

LOS ANGELES (Oct 17): Netflix Inc.’s Cinderella story isn’t over just yet.

The world’s largest paid online TV network added far more subscribers than analysts forecast in the third quarter and issued an upbeat outlook for the current three months, rebounding from a slowdown earlier this year. Netflix signed up 6.96 million customers in the quarter, according to a statement Tuesday, boosting its global total to 137.1 million.

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