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2007-1-30 02:16:00 p.m. HKT, XFNA
Malaysia's Sin Chew says no plans now for mgmt changes following Ming Pao deal
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KUALA LUMPUR (XFN-ASIA) - Sin Chew Media Corp Bhd said there are no plans
at the moment for a management reshuffle following its proposed merger with
Nanyang Press Holdings Bhd and Ming Pao Enterprise Corp, which is expected to
be completed in February 2008.
""As you can see we are still here and so far we have not heard of any
news on changes in the board. At the moment there is no change in management,
"" executive director Rita Sim told reporters.
She said the merger will also not see any consolidation of operations,
noting that the three firms will retain operational independence.
According to her, the entities being merged will have total workforce of
5,000. There are no plans to consolidate Sin Chew's workforce or implement a
voluntary separation scheme, she said.
Separately, she said that Sin Chew is interested in venturing into other
media businesses like television and radio in the near future apart from
expanding the newspaper business.
""We are happy to receive any offers for television or radio business,""
she said, noting that the group already has an online newspaper business.
Sim added that all newspaper and magazine titles in the merged entities
will be retained as they target different segments.
She said Sin Chew will also use the merger to leverage Ming Pao's
presence in China and Hong Kong for future expansions.
(1usd=3.50rgt)
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