KUALA LUMPUR, MALAYSIA / ACCESS Newswire / February 20, 2025 / Seni Jaya Corporation Berhad ("Seni Jaya" or the "Company"), a dynamic and leading Out-of-Home ("OOH") media specialist in Malaysia, today announced that it has entered into Heads of Agreements ("HOAs") for the proposed acquisitions of Unilink Outdoor Sdn. Bhd. ("Unilink") and Vision OOH Sdn. Bhd. ("Vision"). The proposed acquisitions will significantly broaden Seni Jaya's media network, particularly in high-impact locations, and reinforce the Company's and its subsidiaries' digital transformation strategy.
Under the HOAs, Seni Jaya intends to acquire 100% equity interest in Unilink and Vision, subject to a due diligence exercise on Unilink and Vision and the execution of definitive agreements. The proposed acquisition of Unilink will be partially satisfied via cash and issuance of new ordinary sharesin Seni Jaya, while the proposed acquisition of Vision will be fully satisfied via issuance of new ordinary shares in Seni Jaya. The final purchase considerations will be determined later based on further negotiations and valuations.
Unilink and Vision are both established players in the OOH advertising sector, specialising in billboard advertising, and high-visibility digital displays. The proposed acquisitions are expected to increase Seni Jaya's advertising footprint, provide greater access to premium media spaces, and enhance operational efficiencies through economies of scale.
Mr. Jeff Cheah See Heong, Chief Executive Officer of Seni Jaya commented, "This strategic move aligns with our vision to further enhance our presence in the OOH advertising landscape, particularly in prime locations across Malaysia. The proposed acquisitions of Unilink and Vision will not only expand our media asset portfolio but also create synergies that will strengthen our market position and enhance future profitability. As digital adoption accelerates, integrating these companies into our operations will reinforce our ability to deliver cutting-edge, data-driven advertising solutions to our clients."
"With the proposed acquisitions, Seni Jaya will be well-positioned to leverage high-traffic advertising assets and further expand our presence in key urban locations. We remain committed to driving innovation, digital transformation, and data-driven advertising solutions, ensuring long-term value creation for our stakeholders," added Mr. Jeff Cheah.
The proposed acquisitions remain subject to regulatory approvals, shareholders' approval, and finalisation of definitive agreements. Seni Jaya will provide further updates on the signing of the definitive agreements and upon completion of the proposed acquisitions.
As at 5:00 P.M. 20 February 2025, the share price of Seni Jaya closed at RM0.33, showcasing a total market capitalisation of RM70.50 million.
About Seni Jaya Corporation Berhad
Incorporated in 1983, Seni Jaya Corporation Berhad ("Seni Jaya" or the "Group") is a leading Out-of-Home ("OOH") media solutions provider in Malaysia, listed on the Main Market of Bursa Malaysia. With over 500 billboards nationwide, the Company offers static and digital billboards and also provides advertising solutions leveraging on rail transit, airports, and e-hailing vehicles through its media brands, including UNILINK, VISION, CSSB, OSSB, ANDAMAN MEDIA, ENOMAD and BTSJ. Committed to innovation and data-driven advertising, Seni Jaya delivers high-impact, targeted solutions, staying true to its promise of "Connecting Brands, Connecting People", helping brands reach the right audience, in the right place, at the right time.
For more information, visit https://www.senijayacorp.com/
Issued By: Swan Consultancy Sdn. Bhd. on behalf of Seni Jaya Corporation Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
Chris Ser
Email: c.ser@swanconsultancy.biz
SOURCE: Seni Jaya Corporation Berhad
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