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Catcha Digital advances towards GN2 status upliftment after raising RM30m

https://themalaysianreserve.com/2023/07/24/catcha-digital-advances-towards-gn2-status-upliftment-after-raising-rm30m/

Catcha Digital, having successfully raised RM29.7 million through a rights issue exercise to fuel business expansion, has submitted an application to Bursa Securities for the lifting of its GN2 status.

The company told the stock exchange that the capital infusion marks the final step in the company’s regularisation plan, bringing the long-awaited upliftment of GN2 status within reach.

“We extend our heartfelt gratitude to our shareholders for their unwavering confidence and support throughout the execution of the regularisation plan. With the plan now behind us and the imminent lifting of GN2 status, we can now focus on propelling the company to new heights,” said its chairman Patrick YKin Grove.

Catcha Digital’s CEO, Eric Tan, said that the successful fundraising effort has put the company in a favourable position for rapid growth.

He noted the company’s goal of becoming a prominent digital group in Southeast Asia and aims to attract top digital and software companies to collaborate with them.

The objective, he said,  is to solidify their position as the industry leader in the region.

On 6 July, Catcha Digital launched a new business unit called “i-Gov”. It is focused on developing technology solutions and software for the Malaysian government and the public sector. 

On 28 June, Catcha Digital announced that its wholly-owned subsidiary, iMedia, hit a record profit before tax of RM10.28 million in FYE 2022, representing approximately 69% year-on-year growth.

Catcha Digital advances towards GN2 status upliftment after raising RM30m Read More »

Catcha Digital to buy 51% stake in Digital Symphony for RM21.17m

https://theedgemalaysia.com/node/691849

KUALA LUMPUR (Nov 28): Digital media company Catcha Digital Bhd is planning to acquire a 51% equity interest in digital agency DS Services Sdn Bhd, more commonly known as Digital Symphony, for RM21.167 million.

In a press statement on Tuesday, Catcha Digital said it has inked a letter of intent for the acquisition and that the consideration payment will be split into two tranches over two years, payable upon Digital Symphony achieving a profit guarantee of audited profit after tax of RM4 million for the first year post-acquisition, and RM4.3 million for the second year.

“The acquisition is expected to materially increase Catcha Digital’s earnings per share,” it said.

It plans to fund the purchase via a combination of internal funds, debt financing and equity financing.

Digital Symphony is a Malaysia-based data-driven digital agency that operates in Malaysia and Singapore. It provides differentiated performance marketing solutions to clients using its proprietary software and analytics tool.

Founded in 2014 by Kuhan Kumar Palaniappan, the company serves a broad range of enterprise clients with a focus on the property development sector, said Catcha Digital.

“Recognised broadly in Malaysia as one of the leaders in their field, Digital Symphony will form a key part of Catcha Digital’s strategy going forward. I am confident [in] Kuhan and his team, and I believe we can grow hand in hand. We look forward to working with the Digital Symphony team to bring the business to greater heights,” said Catcha Digital chairman, Patrick Grove.

Catcha Digital’s shares closed up 0.5 sen or 1.12% to 45 sen on Tuesday, giving the company a market capitalisation of RM158.44 million.

Catcha Digital to buy 51% stake in Digital Symphony for RM21.17m Read More »

Catcha Digital appoints Ittify founder Tan as its innovation head

https://theedgemalaysia.com/node/687249

KUALA LUMPUR (Oct 23): Catcha Digital Bhd (Catcha) has appointed the founder of its recently-acquired company — Ittify Sdn Bhd, Tan Guan Sheng as its head of innovation, the group said in a statement on Monday.

The appointment is in line with the group’s efforts to spearhead its Artificial Intelligence (AI) initiatives related to digital media.

“We are thrilled to announce Guan as our Head of Innovation and look forward to working with him to unlock the power of AI for our group.

“We believe this can create significant value for our customers, allowing us to offer even better marketing solutions to all our clients,” Catcha Digital CEO Eric Tan said.

To recap, earlier this month, the group announced the acquisition of the remaining 49% equity interest in Ittify not already owned by the group for a cash consideration of RM3.43 million.

It also announced the acquisition of 30% equity interest in Headline Media Sdn Bhd for RM1.24 million, with an option to acquire another 50% stake within 36 months.

Headline Media owns and operates WeirdKaya, an English language website in Malaysia, as well as emerging Malay and Chinese language sites, WeirdKaya BM, LokLokWords and EzLokal.

Meanwhile, Guan said Catcha Digital is committed to pushing the boundaries of what AI could contribute to the company.

Notably, Guan also acquired 1.14 million shares in Catcha, representing approximately 0.32% of Catha’s total outstanding shares as at October 16, 2023.

Shares in Catcha closed two sen or 4.35% lower at 44 sen, giving it a market capitalization of RM154.92 million.

Since the beginning of the year, the stock has soared more than double from merely 20 sen in early January.

Catcha Digital appoints Ittify founder Tan as its innovation head Read More »

Catcha Digital announces two digital media purchases

https://www.thestar.com.my/business/business-news/2023/10/09/catcha-digital-announces-two-digital-media-purchases

KUALA LUMPUR: Catcha Digital Bhd‘s wholly-owned subsidiary iMedia Asia Sdn Bhd will be making equity acquisitions in two companies that are expected to improve the profitability of the group.

In a statement, the group said it will acquire the remaining 49% equity interest of Ittify Sdn Bhd it does not already own for RM3.43mil, paid in two tranches over two years.

Ittify is an influencer platform in Malaysia, which served more than 100 brands with seven thousand influencers on its platform.

Catcha Digital will also acquire 30% equity interest in Headline Media Sdn Bhd for RM1.24mil, paid in two tranches two years, with an option to acquire another 50% equity interest in the company within 36 months.

Headline Media owns and operates WeirdKaya, one of the fastest-growing English language websites in Malaysia, as well as emerging Chinese and Malay language sites, WeirdKaya BM, LokLokWords and EzLokal.

“We expect these acquisitions to contribute positively to our earnings and overall business in the future.

“Our mission is to build a leading digital group in Southeast Asia and we will continue to pursue investments and acquisitions that are earnings accretive,” said Patrick Grove, chairman of Catcha Digital.

Catcha Digital CEO Eric Tan said the addition of Headline Media will strengthen its English language network and offer a more comprehensive advertising solution to its clients.

He added that Ittify continues to grow, with a profit after tax of about RM530,000 in the six months ended June 30, 2023.

Catcha Digital announces two digital media purchases Read More »

Catcha Digital raises US$6.5 mil for growth and expansion

https://www.digitalnewsasia.com/business/catcha-digital-raises-us65-mil-growth-and-expansion

Catcha Digital announced that it had raised US$6.5 million (RM29.7 million) from the Rights Issue exercise to grow and expand its business. This is the final step in its regularisation plan, and its GN2 status is now expected to be lifted.

Catcha Digital is a Malaysia-based investment holding company in the digital media, advertising and software industries.

“We can now devote our attention to building, growing and scaling the company to greater heights,” said Patrick YKin Grove (pic), Chairman of Catcha Digital.

“The company is in a strong position to accelerate its growth plans and realise our vision. We aim to attract digital and software companies to join us and create sustainable value for all stakeholders,” said Eric Tan (pic), CEO of Catcha Digital.Catcha Digital raises US$6.5 mil for growth and expansion

On 6 July, Catcha Digital launched a new business unit called “i-Gov”. It is focused on developing technology solutions and software for the Malaysian government and the public sector. 

On 28 June, Catcha Digital announced that its wholly-owned subsidiary, iMedia, hit a record profit before tax of RM10.28 million in FYE 2022, representing approximately 69% year-on-year growth.

iMedia Asia is a digital media company that provides integrated advertising solutions to brands in Malaysia’s consumer goods, retail, property, entertainment and other industries.

Catcha Digital raises US$6.5 mil for growth and expansion Read More »

Catcha Digital Sets Up New Unit To Develop Technology Solutions And Software For Malaysia’s Public Sector

Catcha Digital sets up new unit to develop technology solutions and software for Malaysia’s public sector

Malaysia-based Catcha Digital has on Thursday announced the formation of a new business unit called “i-Gov”, specifically focused on working to develop technology solutions and software for the Malaysian government and the public sector.

Catcha Digital said in a statement said i-Gov unit is established to contribute to the Malaysian government’s effort in digital transformation and GovTech.

On May 15, 2023, Malaysian Prime Minister Anwar Ibrahim announced the establishment of the Centre for the Fourth Industrial Revolution Malaysia (Malaysia Centre for 4IR), an independent centre within the World Economic Forum (WEF) global ecosystem focusing on two priorities – digital transformation and GovTech, and energy transition.

Catcha Group Pte Ltd, the major shareholder of Catcha Digital, has long maintained a meaningful dialogue with the Malaysian Government on matters related to the digital economy and government digitization, the technology ecosystem and opportunities for improving the government’s digital initiatives.

“We see tremendous opportunities to work with the Malaysian government to unify and improve digital services for the nation and its people, in accordance with The Malaysia Digital Economy Blueprint and Policy for the Fourth Industrial Revolution,” said Patrick Grove, Chairman of Catcha Digital.

“We have spent considerable time in dialogue with various parts of the Government brainstorming ways to bring Malaysia’s digital services to a world class level,

“Internationally, significant progress has been made in enhancing efficiency and convenience for countries through the introduction of world class software solutions and digital access to government services,” he said.

With the launch of i-Gov, he saidm the firm aims to accelerate Malaysia’s transformation towards a digital economy.

According to the statement, i-Gov will look to acquire existing software providers to the Malaysian Government and enhance their capabilities and services, as well as engaging directly with the Malaysian Government on new initiatives and projects designed to advance the government’s technology agenda.

I-Gov will also forms a board of advisors to guide its efforts in the government space in the near future.

Catcha Digital is a Malaysia-based investment holding company focused on operating businesses in the digital media, advertising and software industries.

As a final step in its regularisation plan, Catcha Digital in last month launched an abridged prospectus in relation to a renounceable rights issue involving the issuance of up to 174.64 million new ordinary shares in Catcha Digital on the basis of one rights share for every one existing Catcha Digital share held by the entitled shareholders at an issue price for each rights share fixed at MYR 0.235 ($0.05), to raise up to MYR 41.04 million ($8.79 million).

Catch Group has already committed MYR 18 million ($3.85 million) to the rights issue.

Upon completion of the regularisation plan, Catcha Digital will have its GN2 status lifted.

Meanwhile, the group’s wholly-owned subsidiary, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to major brands in the fast moving consumer goods, retail, property, entertainment and other industries in Malaysia.

IMedia recorded a Profit Before Tax (PBT) of MYR 10.28 million ($2.2 million) in FY2022, representing year-on-year growth of approximately 69 percent.

In the first quarter ended 31 March 2023, iMedia PBT grew by approximately 28 percent compared to the same period last year to reach MYR 3.89 million ($830,000).

IMedia reaches over 13.1 million Malaysians each month as of 31 May 2023 via its extensive portfolio of digital marketing platforms and services over 100 brands across multiple industries.

Catcha Digital Sets Up New Unit To Develop Technology Solutions And Software For Malaysia’s Public Sector Read More »

Catcha Digital appoints Shireen Chia Yin Ting as Independent Non-Executive Director

Catcha Digital Bhd announced today that it appointed Shireen Chia Yin Ting as its new Independent Non-Executive Director (INED), effective 31 May 2023.

Chia is currently the Chief Financial Officer of MYAirline, a new startup airline in Malaysia. Chia is also currently an INED of Securemetric. Before MYAirline, Chia was the Group Chief Financial Officer for Tune Hotels Group of Companies and General Manager at Malaysia Marine and Heavy Engineering. Before that, Chia was with Air Asia for 11 years and was part of the pioneer team responsible for turning the airline into the most cost-efficient airline. She is also responsible for getting Air Asia listed in KLSE in less than five years.

Chia said, “I am honoured to be appointed as the Independent Non-Executive Director of Catcha Digital. I look forward to working with our dynamic team to drive Catcha Digital to new heights.”

Patrick Grove, Chairman of Catcha Digital, said, “We are very excited to welcome Chia to our Board. Chia’s extensive experience across different industries will add tremendous value in our quest to bring the company to the next level”.

Catcha Digital appoints Shireen Chia Yin Ting as Independent Non-Executive Director Read More »

Catcha Digital completes acquisition of iMedia Asia for approx. RM43.92mil in cash & shares

https://vulcanpost.com/819081/catcha-digital-acquires-imedia-asia/

Catcha Digital Berhad (Catcha Digital) today announced that it has completed the acquisition of the entire equity interest of iMedia Asia Sdn Bhd (iMedia).

This is part of Catcha Digital’s regularisation plan to lift its GN2 status, but more on that later.

The transaction is valued at approximately RM43.92 million in cash and shares. 

With this, Catcha Digital now owns the growing integrated digital media solution provider that services over 100 brands across various industries.

The acquisition process was preceded by the appointments of a new Group CEO (Eric Tan) in January, and a new Chairman (Patrick Ykin Grove) in March 2023.

Despite volatile market conditions in FY2021, iMedia recorded a profit before tax of RM6.07 million and a profit after tax and minority interest (PATAMI) of RM3.66 million. iMedia expects to achieve better profitability in FY2022.

The Chairman of Catcha Digital mentioned that he had worked with the team behind iMedia for over 20 years. 

“I am confident that the integration of the vast reach and capabilities of iMedia will accelerate Catcha Digital to be at the forefront of the digital media arena in Malaysia and then Southeast Asia,” Patrick said. 

“The tremendous growth in profit over the last financial year shows that the team and strategy are executing the strategic plan exceptionally well.”

The CEO and co-founder of iMedia, Voon Tze Khay, shared his enthusiasm. 

He expressed his excitement to build on iMedia’s experience in the digital media space and continue offering comprehensive and integrated digital media solutions to clients. 

“We will continue to partner with, invest in, and acquire synergistic digital businesses to strengthen our ecosystem of products and solutions,” he said. “The closing of this transaction represents a new chapter in the iMedia journey, and we believe the best is yet to come.”

Catcha Digital completes acquisition of iMedia Asia for approx. RM43.92mil in cash & shares Read More »

Catcha Digital appoints Patrick Grove as Chairman

https://www.digitalnewsasia.com/business/catcha-digital-appoints-patrick-grove-chairman

Catcha Digital Bhd announced yesterday that it has appointed Patrick Ykin Grove as its new Chairman, effective from 1 March 2023.

Patrick, who is a major shareholder, co-founder and Non-Independent Non-Executive Director of Catcha Digital, is a seasoned entrepreneur and investor with extensive experience in the digital media and technology industry.

As co-founder and Group CEO of Catcha Group, Patrick is recognised as one of the leading entrepreneurs in the Asia Pacific region. Over the last fifteen years, he has founded and taken six companies from startup to IPO.

Over the last decade, Patrick has been independently and widely recognised with numerous international awards, including: Global Leader of Tomorrow and New Asian Leader by the World Economic Forum; Young Entrepreneur of the Year by the Australian Chamber of Commerce, Singapore; Asia’s Best Young Entrepreneur by Bloomberg Business.

Patrick also has extensive experience as a listed company director and was previously Chairman of ASX-listed iProperty Group which was acquired by Newscorp’s REA Group for approximately RM2.5 billion and ASX-listed iCar Asia which was acquired by Carsome for approximately RM850 million.

“I am honoured to be appointed as the Chairman of Catcha Digital. I look forward to working with our dynamic team to create a tremendous success and will work to drive Catcha Digital to the incredible heights we believe it is destined to achieve,” said Patrick.

Patrick’s appointment follows the resignation of former Chairman Larry Gan Nyap Liow @ Gan Nyap Liou stepping down from his position as Independent Non-Executive Chairman with effective from 1 March 2023.

“Observing the Code of Corporate Governance best practice limiting Independent Directors to 9 years, it is very timely at this point for me to step aside and make way for the next director. It has been a great journey with Patrick… and I wish the company the very best,” said Larry.

Catcha Digital appoints Patrick Grove as Chairman Read More »

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