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Wednesday, December 30, 2015

OWG shareholders approve bonus issue

KUALA LUMPUR: Shareholders of Only World Group Holdings Bhd (OWG) approved the proposed bonus issue of 37 million new shares among other resolutions. 

The bonus issue of 37 million new shares of 50 sen each is on the basis of one bonus share for every five existing shares held. 

Shareholders had also passed six other resolutions.

“As our expansion projects are nearing completion, we are on track to gain a solid and stable footing in attaining sustainable revenue growth,” said managing director and group chief executive officer Datuk Seri Koh Cheng Keong in a statement.

OWG is involved in operating and managing F&B and leisure related brands, found in popular resorts and shopping malls.

In October 2015 it completed the acquisition of Escaperoom Holdings Sdn Bhd, a  company mainly engaged in the real life physical adventure games/puzzle concept. 

The acquisition aims to contribute RM4mil to the group’s profit within the next two financial years. 

Escaperoom has seven existing outlets in Malaysia as well as presence in seven countries abroad, which allows OWG to diversify its product offerings in both local and international markets.

The group posted RM86.89mil in revenue, up 4.6% compared to the preceding year. Revenue for the financial year ending 2015 from Food Services Operations and Amusement and Recreation Operations increased by 8.3% and 3.7% to RM64.2mil and RM14.1mil, respectively.

Revenue from Other Services declined partially due to the temporarily closure of the Theme Park in Genting Highlands. 

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