Note: The older content written as part of this blog was relevant at the time but may have since changed. Please don't hesitate to contact me for clarification.

Thursday, August 20, 2009

NMG'S "DISMAL" FINANCIAL PICTURE

Fonzi at the Thailand Jumped The Shark blog has some deeper analysis of the recent financial data released by Nation Multimedia Group Public Company Limited to the Stock Exchange of Thailand. The comments also make interesting reading, with one poster suggesting the company is "financially doomed".
One point to note is that both The Nation and Daily Xpress are published, according to information within each newspaper, by NMG News Co. Limited. This particular limited company doesn't appear to be part of the NMG organisation from a financial perspective. There's no mention of it in any of the balance sheets. If anyone with more knowledge can clarify this I'd be grateful.
As a limited company the requirements for reporting detailed financial information are much less than with a public listed company.

4 comments:

Fonzi 9:26 AM  

BB-

Here is the corporate website.

It is apparent from its own corporate website that The Nation and Xpress are an integral part of the listed company.

The Bangkok Bugle 12:44 PM  

The link is:
http://www.nationgroup.com
(Sorry it was missing from the original comment)

Thanks for your comment Fonzi. Yes - everything would appear to indicate both newspapers are part of the listed company, but I'm curious as to why both are listed as being published by what appears to be a separate limited company.

I've asked for clarification from the Investor Relations department of NMG and will report any response I get.

Anonymous 3:09 PM  

The new company was set up about one year ago at the time The Nation made some of its foreign staff redundant. It allowed the group to re-employ some staff on contracts with reduced pay and benefits. Smoke and mirrors really.

The Bangkok Bugle 3:15 PM  

Anonymous, thanks.

NMG News Co. Limited is not part of the public company so I wonder about the legal responsibilities, etc,.

Ask Me Anything ..

.. about the media and publishing industry in Thailand, and I will do my best to assist you. You can email your question to bkkandy AT myway.com.

Add me on Facebook

(c) The Bangkok Bugle 2006 - 2015. Email me at bkkandy AT myway.com for information.