Star Media Group Berhad (SMG) has announced that it’s winding down its Dimsum Entertainment video streaming service by 30th September 2021. According to its statement published on TheStar, the move is to further propel the group into embarking in new ventures.
It added that the key management team has identified a number of new opportunities the group will explore in to further strengthen its position in the industry. The Dimsum team will be redeployed within the group to work on various ongoing and new projects already in the pipeline.
SMG CMO of product and innovation Lam Swee Kim said while the decision was difficult, they are excited to explore promising new ventures in the near future. The group thanked the support they have received over the years and it has been a privilege to serve their subscribers and customers.
Dimsum was launched in November 2016 as a Malaysian-based video-on-demand platform that focuses on Asian content. It has obtained exclusive simulcast rights from China, Taiwan, Thailand and Japan. Apart from Malaysia, Dimsum had also served Brunei and Singapore.
SMG has recently appointed Alex Yeow Wai Saw as their new CEO who took on the role on 1st March 2021. He replaces media veteran Andreas Vogiatzakis who have left the CEO role in May last year after just nine months on the job.
Alex Yeow was formerly the group CEO and executive director of Tropicana Corp Berhad. He was also the non-executive director of Hafary Holdings Ltd, managing director and executive director at Guocoland (Malaysia) Berhad and executive director of Tower Real Estate Investment Trust (REIT).
SMG had posted a net loss of RM19.72 million for the financial year which ended on 31st December 2020. As reported by The Edge, SMG’s revenue was down 37.83% from RM315.93 million to RM196.42 million.
