PETALING JAYA: In line with its plans to diversify the income base and sweat its assets better, Star Media Group Bhd is expecting its Singapore-listed Cityneon Holdings Ltd to contribute significantly to the group's performance in future.

Star Media Group's chairman Datuk Fu Ah Kiow said that Cityneon's purchase of Victory Hill Exhibitions Pte Ltd (VHE) at the end of last year would bear fruit in the coming years based on early indications and response from the market.

"This investment has proven to be a promising one. We can see the response from the market which have been very good. We now have shows in Paris, and will be starting soon in Las Vegas for the Marvel characters and towards the end of the year we will be starting the Transformers show in Las Vegas," Fu said after Star Media Group's AGM here on Monday.

He added that there was strong interest for VHE shows from other countries such as Australia, Singapore and Malaysia.

"We believe this investment will have a lot more growth potential and going forward, it will contribute a fair bit to our bottomline," he said.

Star Media Group owns 64% of Cityneon which in turns own VHE, the company that has the rights to exhibit characters from Marvel and Avengers series.

During the shareholders meeting that lasted more than two hours, Fu fielded questions from shareholders that ranged from the company bracing for the future, dealing with the challenge of the digital age and its plans to diversify the income base.

Amongst others Fu said the company has a plan in place and it should start to roll it out by end of this year or next.

Shareholders approved all resolutions in the meeting which also recorded its appreciation towards the contribution of the late Tan Sri Kamal Hashim who passed away on Feb 2 this year.

Kamal was a founder of the media group and had served as a director since 1973.