Dasmond Koh’s NoonTalk Media says management pay is fair despite losses

SINGAPORE – NoonTalk Media’s key management personnel are fairly paid, despite the company recording losses each year since it listed on the Singapore Exchange (SGX) Catalist board in 2022, its remuneration committee (RC) said.

The RC remains satisfied that management remuneration is “fair and justifiable” and noted that pay decisions are based on defined key performance indicators, performance milestones and market benchmarks, minutes of its Oct 31 annual general meeting (AGM) showed.

According to the minutes, which were filed on SGX on Nov 25, RC chairman Cruz Teng noted that the committee adopts a “fair and systematic” framework and aims to stay competitive in attracting and retaining talent.

He added that executives operate under service agreements that clearly set out their roles and responsibilities.

Mr Teng was responding to shareholder Bay Guan Seng’s question during the AGM on how key management performance was assessed over three consecutive years of losses and whether NoonTalk Media’s performance review framework reflects a culture of accountability.

The RC also noted that the company is in “an experimental phase and taking calculated risks to pursue new content opportunities”.

“While certain outcomes may fall outside management’s control, each initiative provides valuable learning experiences that contribute to the company’s long-term growth,” it said.

The RC added that it considers contractual deliverables, lessons learnt and demonstrated commitment when evaluating the performance of NoonTalk Media’s key executives.

It highlighted instances in which employees and management took no-pay leave during challenging periods and noted that NoonTalk’s chief executive had extended personal loans to the company when needed.

The RC was referring to a $2 million interest-free, unsecured loan from former DJ and CEO Dasmond Koh in 2024. Mr Koh was paid $300,891 for the financial year 2025.

Mr Bay also asked why the media production and artiste management company had shifted from producing large-scale dramas and films to micro-dramas.

In response, NoonTalk Media chief operating officer Jed Tay said the pivot aligns with fast-growing market trends in China and the region, where micro-dramas have seen rapid adoption.

He said the move is part of the company’s strategy to broaden its content offerings in a segment with rising demand while maintaining full regulatory compliance. Several projects have already been launched, with more releases planned.

Mr Koh added that the decision to venture into micro-dramas was driven by cost effectiveness and profitability.

“Although micro-dramas have lower production costs and shorter timelines than long-form dramas, each project is still assessed against a minimum target return. The growing demand for micro-dramas also enables the company to produce a higher volume of content, which collectively can generate returns comparable with larger projects,” he said.

This comes after NoonTalk Media’s independent auditor had raised doubts in October about the group’s ability to continue as a going concern, citing net liabilities and substantial losses for the financial year ended June 30. The auditor reported that the group’s financial conditions indicated the existence of a material uncertainty.

As at June 30, the group, which includes wholly owned subsidiary NTM Masterpiece, recorded net liabilities of $396,881. The company itself had net liabilities of $269,351.

The group also incurred a net loss of nearly $1.8 million and net operating cash outflow of $900,668 for the financial year.

However, in its annual report, NoonTalk Media noted that the net loss of $1.8 million was an improvement from the $3.8 million loss in the previous year, thanks to effective operating strategies.

Shares of NoonTalk Media jumped 38.2 per cent, or 2.1 cents, to 7.6 cents on Nov 25. The stock is still down from its initial public offering price of 22 cents in November 2022.