KUCHING: Media Chinese International Bhd’s (MCIL) publishing and printing business in Malaysia saw a 1.8 per cent rise to US$27.43 million in 3Q2024, driven by stronger Malaysian operations.
However, its Hong Kong, Taiwan, and North American operations saw declines.
The Malaysian segment saw a 9.4 per cent increase in revenue to US$17.61 million, mainly due to events organised by Sin Chew Daily, such as the “MCIL Trend Forum 2024” and “Malaysia Business Legend 2024.”
This growth, coupled with cost savings, boosted pre-tax profit to US$1.03 million from US$411,000.
However, the Hong Kong and Taiwan segment reported an 8.3 per cent revenue decline to US$8.4 million, widening its loss to US$2.4 million due to reduced advertising revenue.
In North America, the segment saw a 15.5 per cent drop in revenue to US$1.42 million, though pre-tax loss narrowed to US$827,000.
MCIL’s travel segment was a bright spot, with sales growing 9.9 per cent to US$10.36 million, driven by luxury CEO-led trips and increased student and European tours.
However, profit fell 76.1 per cent to US$89,000 due to heightened competition and higher operating costs.
Overall, MCIL reported a 3.9 per cent increase in group revenue to US$37.79 million, though pre-tax loss deepened to US$2.31 million.
The growth was driven by its travel business and Malaysian publishing operations, alongside the strengthening ringgit.
For the nine months ended 2024, MCIL saw a 9.4 per cent increase in turnover to US$124.58 million, with a reduced pre-tax loss of US$4.17 million.
Looking ahead to 4Q2024, CEO Francis Tiong highlighted challenges from geopolitical tensions, global trade issues, and uncertainty over US policies but expressed confidence in MCIL’s financial strength and plans to explore new opportunities in its travel segment while focusing on cost control.
