People: Pace warms up for Chieh
Malaysian entrepreneur Cheong Chia Chieh is celebrating a crop of business wins for his AIM-quoted advertising, media and marketing venture, RedHot Media International. The company, based in Petaling Jaya outside the Malaysian capital of Kuala Lumpur, has snapped up advertising contracts with Porsche Malaysia, sewing machine giant SINGER (Malaysia), local property and construction conglomerate Must Ehsan Development and a string of others.
Chieh, a prominent corporate figure in the Malaysian media and marketing scene, says new clients of this calibre reflect RedHot’s ‘improved platform, from which we can successfully grow our business and generate increased shareholder value’. A lover of horse riding and skiing, executive councillor to Malaysia’s Returned Chinese Association and a member of the Shanghai Alternative Investments Group, he holds 25 per cent of RedHot’s equity and is understandably concerned about the company’s share price. In fact, RedHot’s tightly held shares have fallen from 82.5p to 72.5p in a year, making them a distinctly tepid investment so far.
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