Media Prima acquires 52% stake in Vocket for RM2.6mil

KUALA LUMPUR: Media Prima Bhd (MPB) has proposed to acquire a 52% stake in Vocket Media Sdn Bhd for RM2.6mil cash as it expands its digital business. 

In a filing with Bursa Malaysia, MPB said its indirect wholly-owned subsidiary, Rev Asia Holdings Sdn Bhd had entered into a conditional share sale purchase agreement with Jaffa Sany Mohd Afiffin to acquire 520,000 shares, or 52% stake in Vocket.

Vocket is involved in the business news media agency as online publishers and producer of books, bulletins of other allied publications on electronic media, website designer, copyright owner, and to deal in all goods, articles and things necessary. It has a share capital of RM1,000,000 comprising 1,000,000 ordinary shares.

“The proposed acquisition is in line with the transformation plan of MPB and its subsidiaries to expand its digital business given that Vocket owns a fast-growing social-millennial Malay digital news site in Malaysia,” MPB said.

“The proposed acquisition is expected to provide MPB with the opportunity to solidify its presence in the digital publishing business, which in turn is expected to facilitate the continued growth of the MPB Group moving forward,” it said, adding that the acquisition would provide synergistic benefits to the group.