Nexnews gets SC approval to acquire Edge and Sun

NEXNEWS Bhd has received the Securities Commission (SC) app- roval for its proposed acquisition of a 70% interest in The Edge Communications Sdn Bhd and 100% in Sun Media Corporation Bhd. The target companies are publishers of the business weekly The Edge and English daily theSun, respectively. 

Nexnews, which had previously been involved in jewellery manufacturing, said it had planned a new core business to strengthen the company as it had been registering losses in the past few years. Last year, Nexnews posted a pre-tax loss of RM6.6mil on a turnover of RM10.9mil.  

“With the approval, Nexnews will work towards meeting the conditions in order to proceed to establish its core business in media content and publishing through its two subsidiaries,” said its chief executive officer Tong Kooi Ong. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Affin Bank weighs IPO of asset management unit
AWC-Techkem JV bags RM21mil sub-contract for treatment plant in Melaka
Proton car sales up 18% in November
Sources: China’s Ant considers Paytm stake sale amid tensions with India
Bursa presses pause button after sharp rebound
Hong Kong shares close lower on tech, healthcare retreat
Grab, Gojek close in on terms for merger
Future of finance is in wealth management, retail trading
China shares end flat as healthcare losses offset gains in property stocks
Biden will not immediately remove Phase 1 trade deal with China

Stories You'll Enjoy