Hyperverse of MEDIA PRIMA BERHAD MEDIA PRIMA BERHAD 532975 a Content >> Creativity >> Connectivity
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A Hyperverse of MEDIA PRIMA BERHAD MEDIA PRIMA BERHAD 532975 A Content >> CreAtivity >> ConneCtivity SRI PENTAS, NO. 3, PERSIARAN BANDAR UTAMA BANDAR UTAMA, 47800 PETALING SELANGOR DARUL EHSAN, MALAYSIA www.mediaprima.com.my 532975 A Annual Report 2010 ANNUAL REPORT 2010 PRIMe MInISTeR’S nATIOnAl AnnuAl MInORITy SHAReHOldeRS CSR awardS 2010 CORPORATe RePORT awardS WATCHdOg gROuP (MSWg) SPeCIAl award fOR (nACRA) 2010 MAlAySIAn corporate MedIA RePORTIng ReCIPIenT Of gOveRnAnCe Index 2010 MedIA PRIMA beRHAd CeRTIficate Of MeRIT InduSTRy exCellenCe MedIA PRIMA beRHAd Index 2010 AnnuAl RePORT 2009 MedIA PRIMA beRHAd a hyperverse of content >> creativity >> connectivity StandIng fROM lefT TO RIgHT SITTIng fROM lefT TO RIgHT 1. NuRAInI HAMId 1. JeSSICA TAn SAy CHOOn Group Finance Legal & Secretarial 2. SHARIfAH nuRAdIbAH 2. AHMAd RIzA MOHd SAIAn Group Finance Corporate Finance Some people believe our universe is just one of many that together make up a 3.v Syl IA SIngARAIM 3. Noor AlInA MOHAMAd Faiz Legal & Secretarial Group Human Resources hyperverse. Here at Media Prima, we believe in making our own hyperverse – 4. SeRe MOHAMMAd MOHd kASIM “ 4. SOfIA HISHAMudIn Corporate Governance & Risk Management a hyperverse of content, creativity and connectivity. Group Corporate Communications 5. JOHAn MOHAMed ISHAk 5. Tengku AdRInnA SHAHAz Corporate Finance Group Finance 6. Tg nAHdatul SHIMA Tg bAHAnuddIn MAnAgeR 6. Datin nyAROSe MOHd JAAfAR 2010 saw us continue to redefine the way we do business. This has put content- Corporate Governance & Risk Management Management Services creation at the heart of our operations, and has seen us leverage both on our own 7. ASHvIn RatnAneSAn 7. NafIzAH MustaffA Corporate Governance & Risk Management Management Services media platforms and on those of other industry players to successfully engage 8. Nor ARzlIn RedzuAn Group Human Resources audiences in Malaysia and beyond. 9. ElIzA MOHAMed Group Corporate Communications Meanwhile, we have continued to capitalise on technologies like satellite, cable, and digital broadcasting to enhance connectivity and develop irresistible new media. With the launch of TonTon, for example, users can now watch video content in a beautiful cinematic setting, customise their viewing experience, personalise their playlists and organise their video content however they like. Our future lies in the constant development of new content and new media. It is these that will keep us relevant to our audiences and build the sustainability of our business to the benefit of all our stakeholders. ” Annual Report Committee Media Prima operates four (4) free-to-air (FTA) television channels - TV3, ntv7, 8TV and TV9. The four stations collectively command 47% of the nationwide viewership Media Prima owns one of figures. Malaysia’s largest publishing groups, with newspaper titles Source: Nielsen Audience Measurement such as New Straits Times, Berita Harian and Harian Metro which is the country’s no.1 newspaper. Media Prima Outdoor division, Source: ABC Malaysia which consists of Big Tree Outdoor, Kurnia Outdoor, UPD & The Right Channel commands a hefty 43% share of the outdoor market. The Group currently owns three radio networks, Fly FM, Hot FM and more recently One FM. Source: Nielsen Radio Audience Measurement Media Prima’s content creation arm, Primeworks Studios has grown to become the nation’s premier content production company with a string of award The Group’s young New winning television programmes, Media outfit, continues to movies and documentaries. make inroads in the online and mobile platforms, as it strategically position ourselves in the era of new technologies. Media PriMa Berhad annual rePort 2010 contents 04 06 Statement Accompanying Notice of Notice of Annual General Meeting Annual General Meeting 07 10 12 16 Corporate Information Corporate Structure Organisational Structure Board of Directors’ Profile 23 33 45 46 Senior Management Statement on Internal Control Statement on Corporate Governance Additional Compliance Information 50 54 62 64 Statement on Audit Committee Report 5-Year Financial Highlights Share Price Chart Risk Management 02 MeDiA PRiMA BeRHAD ANNUAl RePORT 2010 65 68 78 92 Viewership and Chairman’s Statement Review of Operations Calendar of Events Listenership Data 102 109 210 213 Awards and Recognition Financial Statements Analysis of Shareholdings Analysis of Warrant Holdings 217 223 List of Properties Group Directory Proxy Form 03 MeDiA PRiMA BeRHAD ANNUAl RePORT 2010 notice of annual general meeting NOTiCe iS HeReBY GiVeN that the Tenth (10th) Annual General Meeting ORDiNARY ReSOlUTiON of MeDiA PRiMA BeRHAD (“the Company”) will be held at Topaz Ballroom (Level G), One World Hotel, First Avenue, Bandar Utama City Centre, 6. Proposed Renewal of Share Buy-Back Authority 47800 Petaling Jaya, Selangor Malaysia on Wednesday, 20 April 2011 at 3.00 p.m. for the following purposes: “THAT, subject always to the Companies Act, 1965, the provisions of the Memorandum and Articles of Association of the Company, the Listing Requirements (“Listing Requirements”) of Bursa Malaysia AGeNDA Securities Berhad (“Bursa Securities”) and the approvals of all relevant governmental and/or regulatory authorities (if any), the 1. To receive and adopt the Statutory Financial Statements for the Company be and is hereby authorised, to the extent permitted by financial year ended 31 December 2010 and the Reports of the law, to purchase such amount of ordinary shares of RM1.00 each in Directors and Auditors thereon. the Company (“Shares”) as may be determined by the Directors of (Resolution 1) the Company from time to time through Bursa Securities upon such terms and conditions as the Directors may deem fit and expedient in 2. To re-elect the following Directors who will retire in accordance with the interest of the Company provided that: Articles 100 and 101 of the Company’s Articles of Association and being eligible, have offered themselves for re-election: (i) the aggregate number of Shares purchased pursuant to this resolution does not exceed 10 per cent of the total issued and (i) Shahril Ridza bin Ridzuan paid-up share capital of the Company subject to a restriction (Resolution 2) that the issued and paid-up share capital of the Company does not fall below the applicable minimum share capital (ii) Tan Sri Mohamed Jawhar requirement of the Listing Requirements; (Resolution 3) (ii) an amount not exceeding the Company’s retained profits and/or (iii) Dato’ Gumuri bin Hussain the share premium account at the time of the purchase(s) will (Resolution 4) be allocated by the Company for the Proposed Share Buy-Back; and 3. To approve a final single-tier dividend of 6.0 sen per ordinary share for the financial year ended 31 December 2010. (iii) upon completion of the purchase by the Company of its own (Resolution 5) Shares, the Directors of the Company are authorised to deal with the Shares so purchased in any of the following manner: 4. To approve the Directors’ fees of RM435,000.00 for the financial year ended 31 December 2010. (a) cancel the Shares so purchased; (Resolution 6) (b) retain the Shares so purchased as treasury shares and held by the Company; or 5. To re-appoint Messrs PricewaterhouseCoopers as Auditors of the (c) retain part of the Shares so purchased as treasury shares Company and to authorise the Directors to fix their remuneration. and cancel the remainder (Resolution 7) AND THAT the authority conferred by this resolution will commence upon the passing of this resolution until: AS SPeCiAl BUSiNeSS (i) the conclusion of the next Annual General Meeting (“AGM”) of To consider and if thought fit, to pass the following resolution with or the Company following the forthcoming 10th AGM, at which without modifications: time it shall lapse, unless by an ordinary resolution passed at that meeting the authority is renewed, either unconditionally or subject to conditions; or (ii) the expiration of the period within which the next AGM is required by law to be held; or (iii) revoked or varied by ordinary resolution passed by the shareholders of the Company at a general meeting; whichever occurs first. 04 Media PriMa Berhad annual rePort 2010 AND THAT authority be and is hereby given unconditionally and notiCe oF diVidend entitleMent and PaYMent generally to the Directors of the Company to take all such steps as are necessary or expedient (including without limitation, the NOTICe iS alSo hereBY GiVen that a final single-tier dividend of opening and maintaining of central depository account(s) under the 6.0 sen per ordinary share for the financial year ended 31 December Securities Industry (Central Depositories) Act, 1991, and the entering 2010, if approved by the shareholders at the 10th Annual General into of all other agreements, arrangements and guarantee with any Meeting, will be paid on 13 July 2011 to Depositors whose names appear party or parties) to implement, finalise and give full effect to the in the Record of Depositors at the close of business on 15 June 2011. aforesaid purchase with full powers to assent to any conditions, modifications, revaluations, variations and/or amendments (if A Depositor shall qualify for entitlement to the dividend only in respect of: any) as may be imposed by the relevant authorities and with the fullest power to do all such acts and things thereafter (including a. shares transferred into the Depositor’s Securities Account before without limitation, the cancellation or retention as treasury shares 4.00 p.m. on 15 June 2011 in respect of transfers; of all or any part of the repurchased Shares) in accordance with the Companies Act, 1965, the provisions of the Memorandum and b. shares deposited into the Depositor’s Securities Account before Articles of Association of the Company and the requirements and/or 12.30 p.m. on 13 June 2011 in respect of shares exempted from guidelines of Bursa Securities and all other relevant governmental mandatory deposit; and and/or regulatory authorities.” (resolution 8) c.