Xinya Media Completed Its Latest Round of Financing

A Singapore based media company, Xinya Media (Xinya) today announced that EDB Investments (EDBI) has taken a stake in Xinya. Including the investments from Gobi Partners and Cheng’s Film, Xinya has successfully raised a total amount of US$9 million in this round. The new funds will aid the growth plan of Xinya and expand its market reach in Asia Pacific.

Xinya is a Singapore-based media company that constitutes channel management, content acquisition and distribution, and other media businesses like TV production, events staging and talent development.

Xinya’s channels target Mandarin speaking audiences, and the channels will be available via satellite and domestic cable in many countries in Asia Pacific such as Taiwan, Hong Kong, Macau, Malaysia, Singapore, Indonesia, the Philippines, Thailand etc. Xinya will also be bringing many exciting concerts and live events to audiences in Singapore and other mandarin speaking territories next year.

According to a report by PricewaterhouseCoopers titled “Global Entertainment and Media Outlook: 2009-2013”, the Asia Pacific TV subscription and license fee market is worth close to US$30 billion this year. It is expected to grow 9.2 percent next year to $32.44 billion, making it the fastest growing market in the television space in the world. Furthermore, Asia Pacific is also seeing the second highest growth rates for the television advertising market. In 2010, this market is expected to be worth about US$33 billion, and it is projected to continue to grow at 2.5 percent the following year. Much of the growth comes from the mandarin speaking markets, and Xinya is poised to tap on these markets by establishing itself as a Pan-Asian media company.

Mr Wee Ah Kee, Chairman/CEO of Xinya Media said “Currently, many mandarin media companies deliver content that is close to their parent territories. The Company aims to be the platform to showcase the best of the Asian cultures by creating a mix of Pan-Asian content, incorporating materials from all the mandarin speaking territories, including Singapore.”. Mr Wee adds that “we welcome EDBI to be one of the shareholders. With the support of EDBI, our company would be able to expand its partnerships with media companies in the region and showcase Singapore content to the wider Asian audience.”

To establish Pan-Asian broadcasting and production, Xinya will partner established media players like Azio in Taiwan, and Jinyingma Group in China. Azio is one of the foremost media companies in Asia, producing household names such as the “Super Sunday” Variety Show, and the “Golden Horse Awards”. Jinyingma Group on the other hand, is one of the largest production houses in China. It has produced over 20 movies and 40 drama serials, winning various awards such as the 10th Chinese Government Award (Huabiao Award), the Golden Rooster Awards, and the China Golden Eagle TV Awards amongst others.

We are excited about Xinya’s plans to build a broadcasting, content aggregation and distribution platform in Singapore for the Asia Pacific market. Xinya fits well with EDBI’s investment objective of growing promising media and digital media companies in Singapore to be global leaders and enhancing the local capabilities in this high growth sector, said Chu Swee Yeok, CEO of EDBI. We look forward to Xinya leveraging on Singapore as a broadcasting hub to expand its footprint in the region, and aggregating international programmes for the Asian audience.

Beside EDB Investments, the other two co-investors in Xinya are Gobi Partners and Cheng’s Film. Established in China, Gobi Partners is a venture capital firm that focuses on China’s IT and digital media sectors and invests in companies that are pushing the frontier, integrating gaps or enabling consolidation within the digital media value chain. Cheng’s Film is a media company located in China and Hong Kong and has produced titles including “Purple Butterfly” starring Zhang Ziyi, Nakamura Toru and Li BingBing; and “Subway” starring Tony Leung and Miriam Yeung

For more information, please contact:
Ms. Pearl Forss
Xinya Media Group
Tel.: +(65) 64239598
Email : pearl.forss (AT) xinyamedia.com

About EDB Investments (EDBI)
EDB Investments (EDBI) is a leading investment firm headquartered in Singapore with worldwide presence. EDBI invests globally in the innovative and dynamic sectors of Biomedical Sciences, Clean Technologies, Digital Media, as well as key industries in Singapore. As a value adding investor, EDBI works closely with its portfolio companies, leveraging on its extensive networks and experience to help bridge and drive the companies’ growth strategies for Asia. For more information please visit www.edbi.com.

About Xingya Media Group
Xinya stands for New Asia, an emerging dynamic region with trendsetters who embrace new cultures while retaining strong ties to Asian values.

Xinya media group is the voice, which speaks to and speaks for these New Asians. Based in Singapore, Xinya is a media content and platform management group.