Home News Featured News Malaysia's The Sun newspaper facing headwinds of a sunset industry

Malaysia’s The Sun newspaper facing headwinds of a sunset industry




- Advertisement -

The Sun’s owner, Berjaya Media Berhad, is eyeing a delisting exercise for the company from Malaysia’s stock market, a source said.

The source said the company is unable to weather the extreme downtrend in the printing and media print industry in Malaysia.

This situation has hit most of the printed media companies, and the downtrend became clear with the recent foreclosure of one of its biggest printing factory in the region.

Malaysian Newsprint Industries Sdn Bhd (MNI), a regional paper manufacturer and supplier owned partly by The New Straits Times Press (M) Bhd (NSTP) and Hong Leong Industries Bhd began creditors’ voluntary winding-up proceedings on August 2.

- Advertisement -

MNI, which operates a newsprint mill in Mentakab, Pahang, signed an 11½-year, US$287mil (RM1.2bil) project financing deal in 1998 for the construction of the country’s first newsprint mill.

Oslo-based Norske Skog, one of the world’s largest producers of publication paper, owns the same level of a stake in MNI as HLI, at 33.65%, while the Rimbunan Hijau group owns the remaining 11.34%.

Known as Malaysia’s pioneer newsprint producer, its closure is an indication of the changing landscape in the media industry, and The Sun might be the next victim.

Rumours have it that The Sun might close shop if a consolidation exercise recently launched fails to gather momentum.

Vincent Tan, the owner of Berjaya Media, has been looking for a buyer for The Sun paper.

The source said this would include its entire operations. But the search has been ongoing for the longest time without success.

“There have been rumours of closing print ops and going fully e-paper but I am sure that is not happening anytime soon.
“That’s because there are a lot of people working on the print operations and it would be really crippling for them,” said the source in Kuala Lumpur.

The paper recently opted for a consolidation exercise, in which it revived its weekend paper in an effort to gain more traction and online advertising sales. The weekend edition is in the e-paper format.

The Sun has an online following of around 15,000 (daily unique visitors).
it is apparently still publishing over 300,000 copies but it does not have print publication during public holidays as part of cost cutting measures introduced earlier this year.

Follow us on Social Media

Send in your scoops to news@theindependent.sg 

- Advertisement -

Couple arrested in S’pore for suspected involvement in baby dumping case

Singapore – A man and a woman, both 25 years old, were arrested by the police for allegedly dumping the body of a newborn in Taiwan in 2019. The police confirmed that the pair were taken into custody on Apr 28 following...

Leong Mun Wai rudely shut down by DPM Heng and Speaker Tan Chuan-Jin

Singapore -- Deputy Prime Minister Heng Swee Keat and Speaker of Parliament Tan Chuan-Jin rudely cut short Non-Constituency MP Leong Mun Wai's questions during the debate on the Significant Infrastructure Government Loan Act (Singa) Bill on Monday (May 10). Mr Leong noted...

How did Singapore grow?

Call it a series of coincidences but my maternal granduncle passed away. While the timing was not something he planned, his death took place a day or two after Singapore Press Holding’s (SPH) CEO, Mr Ng Yat Chung, gave his now...
Follow us on Social Media

Send in your scoops to news@theindependent.sg