MEDIA CHINESE INTERNATIONAL ISSUES Q4 EARNINGS FORECAST

PETALING JAYA: Media Chinese International Ltd is projected to report a net profit of not less than US$1.7 million (RM7 million) for its fourth quarter ended March 31, 2021 compared with a net loss of US$1.8 million in the corresponding quarter of the previous year. It said in a joint filing to Bursa Malaysia Securities and the Stock Exchange of Hong Kong that the better performance is mainly attributable to improved business conditions in Hong Kong. For the full financial year, it expects a net loss of not more than US$2 million compared with a net profit of US$7.1 million in the preceding year, mainly due to the adverse impact of the Covid-19 pandemic.