Tycoon to introduce global Chinese-language media

Tycoon to introduce global Chinese-language media


KUALA LUMPUR
31-Jan-07

MALAYSIAN media tycoon Tiong Hiew King is making a bid to merge his three
Chinese-language publishing groups in Malaysia and Hong Kong to create one of
the world's largest Chinese media conglomerates.

The merger will combine Tiong's Sin Chew Media Corp and Nanyang Press Holdings
in Malaysia with Hong Kong-listed Ming Pao Enterprise Corp via a share swap
arrangement. Tiong is the majority shareholder in Sin Chew and Ming Pao, and is
in the process of buying Nanyang.

The merger will "create a global Chinese-language media group which the
directors believe will emerge as one of the largest Chinese language print media
platforms", Sin Chew said.

It said the merger will see the group operating and publishing major
Chinese-language newspapers and magazines in Malaysia, Hong Kong, the US, Canada
and China.

Citing a large global Chinese population and growing readership of
Chinese-langage publications, the merger "will allow the enlarged group to
leverage on its strong global platform to expand into the Chinese media market
in China as well as globally".

Under the deal which must be inked by April 30, Sin Chew and Nanyang will be
delisted from Malaysia's bourse and replaced with Ming Pao, which reports said
would see the first Malaysia-Hong Kong dual listing. Sin Chew and Nanyang will
become wholly-owned subsidiaries of Ming Pao. Sin Chew publishes Malaysia's
larget circulated Chinese newspaper, Sin Chew Daily, while Nanyang produces the
country's oldest Chinese-language daily, Nanyang Siang Pau.

AFP

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