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Chairman



 
 


Honorary Chairman
From the Chairman
Board of Directors
Senior Management
Awards & Recognition

 

The advancement of technology and the ever changing consumption pattern of media users have deeply affected the media industry. One Media Group Limited (the ¡§Company¡¨) and its subsidiaries (collectively, the ¡§Group¡¨) have not been spared either and the year ended 31st March 2018 has been a tough and challenging year. For the year 2017, Hong Kong¡¦s gross domestic product (GDP) grew by 3.8% as compared to 2.1 % in 2016. According to the Hong Kong Census and Statistics Department, the total retail sales in Hong Kong was provisionally estimated at HK$446.1 billion, an increase of 2.2% in value and 1.9% in volume over 2016. Despite the improvement in the local economy, the print media industry was not the beneficiary of such improvement as the increase of 4% in the local advertising spend was mainly contributed by the growth in mobile adspend, TV channels and outdoor advertisements. During the year under review, the Group had taken steps in finding the equilibrium between its current publications and the changing demands of its users resulting from the latest development in technology, connectivity and usage of social media.

CONTENT

We have always strived to ensure that the quality of the content of all our publications is upheld. As such we consistently review and improve our content to meet the demands of our readers. The Group will continue to invest in the digital space to create digital content to complement the content of its printed publications. We believe it will enhance the experience of our readers in terms of offering different content through various platforms.

REVENUE

To reduce the impact of continued shift of advertising spend from the print media to digital media, the Group has rolled out initiatives which allow its advertisers to connect with a diverse base of targeted audiences in other forms in the digital space like through custom-made videos. This is also the springboard for the Group to move into the creative advertising space. The Group has also embarked on the business of organising marketing events for advertisers, government and nongovernment organisations to maintain a diversified revenue portfolio.

RESOURCES

To address the decline in its revenue, the Group has continuously reviewed the ways in which it may reduce costs. For example, current manpower has been redeployed and retrained to meet the development of digital business.

INVESTMENTS

The success of the public listing of one of previous investments in Most Kwai Chung Limited (stock code: 1716) reinforces investing in third party ventures to be a strategic business direction of the Group.

The Group is therefore exploring new business opportunities by looking out for investment in new ventures which have strategic and/or operational synergies with the Group, especially in the digital media platform to enhance its businesses. The Group presently operates in Hong Kong and Taiwan, and Mainland China. The Group will continue to leverage on its presence in these regions to explore potential investment opportunities.

On 28th March 2018, the Company had announced that Tan Sri Datuk Sir TIONG Hiew King had resigned as our Chairman and will remain as a non-executive director with effect from 1st April 2018. On behalf of the Board, I would like to express our sincere appreciation and gratitude to Tan Sri Datuk Sir TIONG Hiew King for his valuable contribution to the Company during his tenure of office as the Chairman. The Board believes that the shareholders and the Company will continue to benefit from his presence as a non-executive director of the Company.

On behalf of the Board, I would also like to thank our valued readers, customers, shareholders, business associates and other friends for their continued support to the Group during the year.

TIONG Choon
Chairman
Hong Kong, 30th May 2018.




 
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