25 Aug 2011 11:03
25 August 2011
RedHot Media International Limited
("RedHot" or the "Company")
Result of AGM and
New Advertising Budgets Secured in Education Sector
RedHot is pleased to announce that at today's AGM, all resolutions were duly passed.
The Directors are also pleased to report that since the beginning of June 2011 its operations in Malaysia have secured new advertising budgets from two leading Malaysian universities, a fast growing sector in the Asian advertising market.
RedHot Media Sdn Bhd ("RedHot Media"), the Company's wholly owned operating subsidiary in Malaysia, has secured new advertising orders with Cosmopoint, an existing customer which controls a number of learning centres in developing countries, taking the total advertising budget with Cosmopoint for the year to date to Rm 3.0 million.
In addition RedHot Media has been appointed by City University College, Malaysia, to be its media agency with an estimated advertising budget of Rm 2 million per annum. The university is owned by Selia Group Bhd, which is quoted on the Kuala Lumpur Stock Exchange.
Group Managing Director of RedHot, Mr. Cheong Chia Chieh, said, "We continue to penetrate the highly lucrative further education market in Asia, as each university increases its marketing budget in order to attract the best students. Our unique business model and operational platform makes RedHot a popular choice in these sectors and we hope to announce more of these contracts in the future."
-ends-
For further information, please contact:
RedHot Media International Limited | Tel: +601 2329 5522 |
Cheong Chia Chieh | Tel: +6012 390 0718 |
Lee Koh Yung | |
Allenby Capital Limited | Tel: +44 (0)203 328 5656 |
(Nominated Adviser and Joint Broker) | |
Nick Athanas | |
James Reeve | |
Daniel Stewart & Company Plc | Tel: +44 (0)20 7776 6550 |
(Joint Broker) | |
Antony Legge | |
Colin Rowbury | |
Leander | Tel: +44 (0)7795 168 157 |
(Financial PR) | |
Christian Taylor-Wilkinson |
Notes to Editors:
RedHot is a one-stop centre comprising media and advertising businesses and marketing and distribution channels in both Malaysia and China, creating a large network of clientele and business affiliates. RedHot operates in four defined market segments, namely Media, Advertising, Merchandising and Insurance Product & Financial Advisory. RedHot's ecosystem comprises of media brokerage (media owners including newspapers, television, radio, billboards, websites and social media), disposal channels (retail outlets, wholesaler, banks, insurance companies, agency networks, consumers and corporate clientele), content distribution (internet users and content users) and media infrastructure (reach to brand owners and advertisers, internet users for mobile and PC, and target market for consumers and end-user).