Media entertainment company NoonTalk lodges preliminary document for Catalist IPO

Claudia Chong
Published Fri, Oct 28, 2022 · 11:50 PM

NOONTALK Media, a Singapore-based company specialising in talent management, multimedia production and event conceptualisation, is looking to list on the Catalist board of the Singapore Exchange.

The company lodged its preliminary offer document on Friday evening (Oct 28), proposing to raise funds for regional expansion in film and drama production, investment in multimedia technology, and other purposes.

NoonTalk was started in 2011 with a niche in Chinese-language media productions. It is led by executive director and CEO Dasmond Koh, a Singaporean actor, television host and radio personality. Koh owns 70.37 per cent of the company.

The company represents artistes including Xu Bin and Kimberly Chia, and has produced events including Chingay 2022 and the ChildAid Concert 2021. NoonTalk also produces films, web series, television serials and commercial videos.

The group recorded profit after tax of S$22,407 for the financial year ended Jun 30, according to audited figures. Profit after tax for FY2021 and FY2020 were S$189,244 and S$73,979.

However, in FY2022, the company’s other income comprised government grants, rental rebates, and a gain of S$400,000 recognised on partial extinguishment of a convertible loan.

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In the event that such one-off gains were excluded, NoonTalk would have been loss-making. It would have made a loss after tax of S$77,872 for FY2020, profit after tax of S$1,726 for FY2021, and loss after tax of S$547,041 for FY2022.

Revenue for FY2020, FY2021 and FY2022 were S$3 million, S$3.8 million and S$6.4 million, respectively.

The company had S$1.8 million in cash in FY2022 and current borrowings of S$3.9 million, which comprise mainly a convertible loan of S$1.4 million and convertible bonds of S$2.2 million.

Operating cash outflow was S$258,533 in FY2022; cash generated from operating activities was S$1.3 million and S$188,596 in FY2021 and FY2020.

NoonTalk said it has a critical advantage to gain market share in South-east Asia. “Although there are market players, such as Hong Kong’s Media Asia Group… their operations are mainly across Hong Kong, China and South Korea. In South-east Asia, however, there are few players that could currently match our company’s comprehensive range of products and services capabilities,” said NoonTalk.

In June, the company launched a film in Thailand called “The Antique Shop”, a collaborative effort featuring artistes from across the Asia-Pacific region.

NoonTalk also highlighted new opportunities from an evolving media landscape. It said it has a long track record of engagement with major social media platforms and is confident about developing comprehensive marketing strategies for its clients.

Evolve Capital Advisory is the sponsor, issue manager and co-placement agent for the initial public offering, while CGS-CIMB Securities (Singapore) is the underwriter and co-placement agent.

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