Seni Jaya Corporation Berhad: A High-Growth Media Stock in a Slower-Than-Average Industry

Seni Jaya Corporation Berhad (KLSE:SJC) has emerged as a standout performer in Malaysia’s media sector, defying broader industry headwinds with robust earnings acceleration and strategic growth initiatives. While the Malaysian media industry has faced declining revenues—down 7.7% annually over the past three years [3]—Seni Jaya’s financial results for Q4 FY2025 and Q2 FY2025 reveal a stark contrast. The company reported a 25% year-on-year revenue increase to MYR 15.83 million in Q4 2025 and a 31% surge to MYR 19.2 million in Q2 2024 [1]. Profit before tax (PBT) turned from a loss of MYR 2.96 million in Q4 2024 to a profit of MYR 3.35 million in Q4 2025 [1], underscoring its operational turnaround.

The company’s outperformance is driven by its aggressive digital transformation. Digital billboards contributed MYR 7.6 million in incremental revenue during the first half of FY2025 [3], and its Return on Capital Employed (ROCE) of 17% far exceeds the industry average of 6.4% [1]. Strategic acquisitions, including Unilink Outdoor Sdn. Bhd. and Vision OOH Sdn. Bhd., are expanding Seni Jaya’s footprint in premium urban locations, aligning with the global shift toward data-driven advertising [4].

However, the broader media industry’s challenges cannot be ignored. Malaysia’s entertainment and media (E&M) sector grew at a modest 2.3% CAGR from 2023 to 2028, reaching MYR 58.9 billion by 2028 [2]. This pales in comparison to Seni Jaya’s 45% year-on-year revenue growth in H1 FY2025 [3]. The company’s ability to capitalize on digital advertising—now 76% of Malaysia’s total ad revenue [2]—positions it to outpace industry trends.

Despite these positives, risks persist. The global media industry is projected to grow at a 3.7% CAGR through 2029 [5], but Seni Jaya’s reliance on Malaysia’s fragmented market exposes it to regulatory and competitive pressures. Additionally, the company’s lack of dividend payouts in Q4 2025 [1] may concern income-focused investors.

In conclusion, Seni Jaya’s earnings acceleration and strategic focus on digital infrastructure make it a compelling play in a slower-than-average industry. Its ability to leverage acquisitions, digital transformation, and urban traffic trends suggests sustained growth, even as the broader sector faces headwinds.

Source:
[1] Seni Jaya Corporation Berhad Reports Strong Q4 FY2025 Financial Results, [https://klse.i3investor.com/web/announcement/detail/1991097]
[2] PwC Global Entertainment & Media Outlook 2024-2028, [https://www.pwc.com/my/en/publications/2024/entertainment-media-outlook-malaysia.html]
[3] Seni Jaya - Connecting Brands, Connecting People. Billboard ..., [https://www.senijayacorp.com/]
[4] Seni Jaya Signs Heads Of Agreement For Strategic Acquisitions, [https://finance.yahoo.com/news/seni-jaya-signs-heads-agreement-144500769.html]
[5] Perspectives: Global E&M Outlook 2025–2029, [https://www.pwc.com/gx/en/issues/business-model-reinforcement/outlook/insights-and-perspectives.html]