Seni Jaya forges ahead with a three-year transformation journey to boost OOH advertising space

KUALA LUMPUR: Main market-listed Seni Jaya Corporation Bhd (SJC) is focused on executing its growth plans and is confident in maintaining positive momentum in the current financial year (FY22).

With the favourable macro conditions, SJB expects its financial performance to continue improving by capitalising on the increase in air traffic movements following the reopening of international borders.

Chief executive officer Cheah See Heong said the company has embarked on a three-year transformation journey to boost its standing in the out-of-home (OOH) advertising space with the eventual goal of being the market leader in Malaysia.

"The transformation plan has been charting very good progress, having successfully revamped our business model to adjust to the changing landscape of the OOH media industry.

"More importantly, positive headways made in FY2021 through our transformation journey have set us up nicely for an exciting FY22.

"We have boosted the quality, quantity, and variety of billboards after penning strategic collaborations with other established OOH advertising companies," he said in a statement today.

Cheah said this month, the company welcomed Prowangsa Holdings Sdn Bhd (PHSB) on board as its latest strategic partner.

PHSB's solid static and digital assets across major urban highways in Klang Valley have further expanded SJC coverage, said Cheah after today's annual general meeting.

"Meanwhile, we are also increasing our airport advertising exposure to capitalise on the increase in air traffic movements following the reopening of international borders.

"Additionally, we are soon launching Malaysia's first spectacular digital gantry on a major highway. This digital gantry provides infinite possibilities for our customers to share impactful stories and messages," said Cheah.

To recap, SJC reported revenue of RM8.6 million in the first quarter (Q1) FY22, jumping over sixfold year-on-year (YoY) from RM1.3 million registered last year.

Accordingly, net profit returned to the black at RM0.5 million and compared to a net loss of RM1.6 million recorded in Q1 FY21, this was a leap of RM2.1 million.

The uptick primarily drove the improvement for OOH advertising on the back of the reopening of the economy, coupled with the festive period, which reinvigorated consumer spending and foot and car traffic nationwide.