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Author: SGX   |   Latest post: Tue, 22 Nov 2022, 7:14 PM

 

NoonTalk Media – Homegrown Media Entertainment Company – Debuts on SGX

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  • Co-founded by former DJ and actor Dasmond Koh, NoonTalk is a Singapore-based media entertainment company that specialises in artiste and talent management, multimedia production and event conceptualisation.
     
  • Despite a challenging operating environment amid the pandemic, NoonTalk’s revenue has grown from S$3.04 million in FY2020 to S$6.37 million in FY2022. During which, the Company has been profitable, accounting for certain one-off gains. NoonTalk does not have a fixed dividend policy, but its Board intends to recommend dividends of not less than 20% of net profit after tax in each of FY2023 and FY2024.
     
  • NoonTalk intends to extend its regional footprint and leadership in existing business verticals through cross-border partnerships on media productions, signing overseas artistes and talent, as well as pursuing strategic investments and acquisitions in synergistic production companies.

One-stop provider of high quality, bespoke events and entertainment solutions

NoonTalk Media debuts on the SGX Catalist with an estimated market capitalization of S$43.6 million. According to NoonTalk, the listing will serve to enhance the Company’s public image while enabling access to the capital markets for business expansion plans. NoonTalk aims to be Singapore’s leading media agency in creating quality entertainment content and to inspire a vibrant media landscape in Singapore, with a particular niche in Chinese-language media productions.

Offering a comprehensive suite of services, the company has 2 key business segments:

NoonTalk Media – Homegrown Media Entertainment Company – Debuts on SGX

1. Management and Events

  • Management of Artistes and Talent – NoonTalk is responsible for managing the various projects and endorsements undertaken by its portfolio of acclaimed local artistes and talent, including the likes of Xu Bin, Kimberly Chia, and Zong Zijie, as well as overseas star Zheng Kai.
NoonTalk Media – Homegrown Media Entertainment Company – Debuts on SGX
  • Management of Studio Venue and Equipment – NoonTalk’s configurable in-house studio venue, which comes equipped with state-of-the-art systems, enhances the Company’s attractiveness as a one-stop service provider.
     
  • Management of Events and Projects – NoonTalk is capable of organising both in-person and livestreamed events, offering a wide range of services including event conceptualisation, event logistics, and event management. The Company also manages cross-agency media campaigns and projects, including the 2017-2021 editions of “My Story Public Speaking Competition” co-organised with Promote Mandarin Council as part of the Speak Mandarin Campaign. 

2. Production

  • Multimedia Creation and Production – NoonTalk leverages in-house expertise and the use of cutting-edge technology in delivering highly customised and engaging multimedia productions. Marquee projects in recent years include 2022 and 2021 editions of Chingay, as well as 2021 and 2020 editions of ChildAid which all featured significant digital elements.
     
  • Film and Television Product – Productions include films, web series, television serials, and other similar works for both local and overseas market. Headline projects “Victory Lap”, “Dear My Happy Working Life”, and “The Antique Shop” all featured aspects of cross-border collaboration.
     
  • Video Production – Productions include music videos, corporate videos, infotainment, and television commercials.

Highlights from Offer Document

A. Company Prospects

  • Strong demand for full-service media companies – Over the years, there has been a growing number of companies which have found success in undertaking multiple synergistic businesses across the entertainment value chain, such as South Korea’s FNC Entertainment and Hong Kong’s Media Asia Group.
     
  • Market opportunities within Southeast Asia, wherein few players could currently match NoonTalk’s comprehensive range of products and services capabilities. This presents NoonTalk a competitive edge to seize market share and become a leading enabler in the region and beyond as a one-stop shop for media entertainment solutions.
     
  • New opportunities from an evolving social media landscape – The pandemic has given rise to and accelerated the adoption of various new methods of content delivery, particularly through the use of social media platforms. With a prominent presence on major social media platforms and business know-how in navigating the social media landscape, NoonTalk is well-positioned to capture new opportunities arising from the continued evolution of these platforms. 

B. Competitive Strengths

  • Cutting-edge multimedia production capabilities providing scalable and comprehensive production solutions, from staging traditional live events to fully digital productions.
     
  • Uniquely positioned to provide the full spectrum of media production solutions – NoonTalk boasts strong onsite capabilities spanning the entire entertainment value chain. Following the onset of the pandemic, NoonTalk pivoted away from being involved in only physical events to being a specialist in handling livestreaming and virtual events.
     
  • Experienced and dynamic management team with strong technical expertise – Executive Director and CEO, Mr. Dasmond Koh is a seasoned veteran in the local entertainment scene with an established fan base and deep relationships across Asia’s entertainment industry. Supporting him is Executive Director and COO, Mr. Jed Tay, who has vast experience in the creative industry and invaluable multimedia production experience.
     
  • Strong track record with a diverse and strong clientele, which includes Mediacorp, statutory boards such as People’s Association, as well as industry-leading brands such as Asics, Puma, Audi and Marina Bay Sands.
     
  • Established portfolio of artistes who have found notable success in popular Chinese local productions, endorsement deals with renowned local and international brands, as well as recognition from local and international accolades.

C. Business Strategies and Future Plans

  • Extend regional footprint and pursue regional collaborations to bolster service offerings – NoonTalk seeks to further cultivate relationships with existing and potential partners across the Asia-Pacific region, with the aim of exploring new opportunities for partnerships to strengthen market leadership in core markets.
     
  • Further expand artiste base regionally to cover key markets in Asia Pacific such as the Greater China region.
     
  • Inorganic expansion via mergers and acquisitions, joint ventures, and strategic investments NoonTalk intends to drive long-term growth through pursuing strategic investments and acquisitions in production companies within the Southeast Asian region. Preliminary discussions have been held with stakeholders in the film and drama space, as well as events and concerts space. Locally, NoonTalk is in discussion with arena production expert The Show Company on potential collaboration opportunities.
     
  • Diversify into new business opportunities in adjacent markets, such as MICE and live performance events.

D. Key Risk Factors (Refer to page 36 of the Offer Document for a complete list of Risk Factors)

  • Continued success and growth of NoonTalk is significantly dependent upon the continued services of its Executive Directors, Mr. Dasmond Koh and Mr. Jed Tay, as well as the in-house creative team.
     
  • There can be no assurance that NoonTalk will continue to successfully bid for and secure tenders for the production of large-scale events and projects on similar terms.
     
  • Excluding certain one-off gains, NoonTalk may be loss-making, as is the case during Period Under Review.
     
  • Profitability may be adversely affected if exceptional, one-off circumstances occur which hinder the Company’s ability to secure contracts for large-scale events and projects.

Financials

  • NoonTalk’s revenue increased by 66.3% from S$3.83 million in FY2021 to S$6.37 million in FY2022, driven by stronger revenue across both business segments. Majority of revenue is generated within Singapore, with key overseas markets Hong Kong and Thailand generating 13.7% of revenue in FY2022.
NoonTalk Media – Homegrown Media Entertainment Company – Debuts on SGX
  • Production revenue rose 60.3% due to an upsized contract award from Chingay 2022 as compared to previous year’s edition, additional revenue yielded from past productions, as well as revenue from latest movie “The Antique Shop” launched in Thailand. NoonTalk has remarked that it will venture further into the sale of copyright to enhance commercial value of its productions. Meanwhile, Management and Events revenue grew 78.9% due to increase in projects from the uplift of Covid-19 restrictions on social events and live performances.
     
  • Overall gross profit margin decreased from 35.8% in FY2021 to 27.5% in FY2022. Of which, Production saw lower margin due to production cessation which nullified margin gains from the project. Higher cost was also recorded from increased outsourcing to accomplish the Chingay 2022 project. This was offset by an increase from 30.3% in FY2021 to 35.9% in FY2022 from Management and Events
     
  • Overall, net profit attributable to owners decreased by 88.2% from S$189,244 in FY2021 to S$22,407 in FY2022.

SGX’s Media-related Plays

Currently, SGX lists 5 Media & Entertainment, Production and Events related plays with a total market capitalisation of over S$730 million.

  • GHY Culture & Media (stock code XJB, market cap S$445.6 million) is primarily engaged in the production and distribution of films and dramas and the presentation of live entertainment in the Asia-Pacific region.
     
  • UnUsUal (stock code 1D1, market cap S$136.9 million) is a producer and promoter of large-scale live events and concerts in Singapore and the region.
     
  • mm2 Asia (stock code 1B0, market cap S$125.6 million) owns integrated businesses across the content, immersive media, cinema, event and concert industries in Singapore, Malaysia, Greater China and the US.
     
  • Vivdthree Holdings (stock code OMK, market cap S$13.0 million) specialises in visual effects, animation and virtual reality for content creation and services across the Digital Entertainment and Out-of-Home Entertainment sectors, as well as collaborations in MICE projects.
     
  • Spackman Entertainment (stock code 40E, market cap S$9.7 million) is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.

Additional Information from Introductory Document

A. IPO details

  • Offer price at S$0.22 per share
  • 22.0 million shares offered, of which 17.5 million are placement shares and 4.5 million for public offering
  • Estimated IPO market capitalisation at S$43.6 million
  • Total amount raised at S$4.8 million
  • Use of net proceed totalling S$3.3 million:

1. S$2.3 million – Regional expansion and strengthening leadership in existing business verticals, particularly in film and drama production

2. S$484,000 – Investment into multimedia technology

3. S$484,000 – Working capital and general corporate purposes

B. Shareholder Structure

Post-IPO, Executive Director and CEO, Mr. Dasmond Koh will remain as Controlling Shareholder with approximately 62.55% ownership, Executive Director and COO, Mr. Jed Tay will hold a 3.55% stake, while Public Offer Shares represent 11.11% ownership in the Company. 

Did you know?

NoonTalk Media – Homegrown Media Entertainment Company – Debuts on SGX

Mr. Dasmond Koh is a seasoned veteran in the local entertainment scene with an established fan base and deep relationships across Asia’s entertainment industry. Koh began his career as a successful Deejay and subsequently enjoyed similar success as a full-time artist with Mediacorp. Over the years, Koh has capitalised on his significant media experience to successfully nurture numerous artistes in the local showbiz scene and build operational capabilities across the various business verticals.

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