PETALING JAYA: Catcha Media, which was listed on the Ace Market last month, can ride on the increasingly affluent consumers of Asia via the company's online and print media presence in the region.
Genting's strategic investments and corporate affairs head Datuk Justin Leong, who became a substantial shareholder in the company via the acquisition of a 5.01% stake recently, said new media in Malaysia and the rest of Asia would see “tremendous growth” in the near future.
“Catcha Media aims to be the largest new media player in the country and I've seen the way new media has changed industries,” he said in a press release carried by Catcha Media on Wednesday.
Leong said the rapid growth of an urban middle class in China and South East Asia would result in huge growth in discretionary spending.
“This demographic and behavioural shift translates positively to consumer categories which, in turn, translates to a disproportionate growth in media, in particular, online media,” he said.
Catcha Media's share price has risen over 36% to 78 sen at the midday break.
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