11 June 2018
11 June 2018
VHQ Media Holdings Ltd reported that May 2018 Consolidated Revenue amounted to NTD 134.606 million, up 29.97% YOY, representing a record-setting high.
YTD Jan-May 2018 accumulated revenue amounted to NTD 604.54 million, up 18.84% year on year.
VHQ further commented that the feature film post production has begun to enter the peak period of production, With swelling demand for high quality CGI content the post production the overall production budget has also increased substantially. This is one of the key growth driver in maintaining double-digit revenue growth over the same period last year.
VHQ remains optimistic with regards to the financial results for the year, with the order book visibility stretching till 2H 2019.
Following the announcement on 22 May 2018 related to the issuance of convertible bonds (CB) worth USD 15 million by VHQ Digital Media Limited, for the expansion of China Businesses. The CB subscribers namely, Peako Assets Limited, OoiTheanYat Ronald Anthony, Grandma’s Holdings Limited, and OoiKeat Bee Carole Ann collectively were owners of Kim Eng Securities; the leading independent securities group and is the largest in terms of shareholders’ funds in Singapore. Lead by Peako Assets Limited controlling stakeholder Ms. Gloria Lee the founder of Kim Eng, she was one of the first female stockbrokers in Singapore, Forbes magazine named her one of Asia’s 25 “Power Women”. Her husband, Mr. Dennis Lee Kim Yew, younger brother of Mr. Lee Kuan Yew, Singapore’s former prime minister. OoiTheanYat Ronald Anthony, son of Gloria Lee, the Chairman and CEO of Kim Eng.
Looking ahead into 2018, VHQ maintains its optimism mainly due to (1) Its robust order book visibility stretching till 2H2019. (2) Target to complete acquisition of Jupiter Media by 3Q18; expected economic benefits from the extension into TV drama will become noticeable in the second half of the year. (3) the Company will continue to expand the operation scale of its post-production team, through the dual financing platforms in Taiwan and Hong Kong and source for new acquisition opportunities so as to add impetus to promote the growth of the Company.
VHQ was established in Singapore in 1987 as a post-production studio. In 2001, its then Managing Director lead an MBO exercise and recapitalised the company operates a network covering Asean. In 2013, VHQ China was launched to service the ever increasing volume of work, mainly feature films, which originated from China. In 2014, VHQ Media Holdings Ltd was incorporated and was listed in December 2015 on the Taipei Exchange (Ticker – VHQ-KY 4803). VHQ’s core business is in the production of visual effects, animation, motion graphics and post production services for commercials & feature films.
VHQ celebrates its 30th anniversary in 2017 with thriving facilities in Singapore, Malaysia, Indonesia, Taiwan and China.
For general enquiries, please contact:
Low Kok Wah
Tel: +886 2 2657 7886
For media enquiries, please contact:
Sarah Liu, Time Investor Relations
Tel: +886 932 949928