It's too early to write off the web news magazine, [#1]AgendaMalaysia.com[/#](AM), according to a media industry observer.

The observer, who himself runs a relatively new corporate and business news website, said today given a more focused news direction and some belt-tightening, AM can still have a place in the Internet media world.

In a sombre announcement posted yesterday AM managing editor Rehman Rashid said that the nine-month old website will cease operations by the end of the month.

However, the online media's chief executive officer, Jaafar Ismail (photo), was very tight-lipped when malaysiakini contacted him about his plans to take AM beyond the new year, perhaps under a revised concept.

"There are other shareholders involved and the earliest I can say more is some time next week," was all that Jaafar would say despite much persuasion that a lot of "concerned" readers out there would like to know if the "shut down" decision was "really final".

When AM was launched, Jaafar had been quoted as saying that "Great e-commerce ideas and businesses will gravitate to and reside with extreme comfort on high quality media portals."

A graduate from an Australian university, Jaafar had served for 10 years in a leading local construction and communications conglomerate and now explores "society and commercial interests in the new e-economy", said an introduction flagging off the AM venture.

Established brand

The media observer told malaysiakini that AM was now a well-established brand and it would be a "great pity" to see its efforts go to waste.

In an editorial entitled Game Over posted yesterday, Rehman informed readers that AM had run out of finance four months prematurely since its launch in April[#2]('Game over' for online news mag Agenda Malaysia,[/#]Dec 11).

Specifically, he said, AM had totally misjudged the development of Internet advertising in the country, "not only on pace but direction, on which we were a neat 180 degrees off".

"With the advertising industry in general traditionally two steps behind the curve of ideas, we thought Internet advertising would work itself into gear this year. Instead, it seems to have nosedived into self-servitude and lost its head up its ass," he said.

The website will keep its archives and columnists online, and upload closing essays of its senior writers over the remaining days until Dec 31, he added.

Revised concept

The media observer stated that with some scaling down on operations costs as well coming up with a revised concept accompanied by a more mass-appeal content, AM can still play a role in expanding media space in Malaysia.

"Maybe other people can step in to lend a helping hand in ensuring that bold entrepreneurs like those at AgendaMalaysia are encouraged to hang in there during difficult times. They can carve a niche and thrive in the long run," he said.

If media dotcom companies can survive the first few years and build a reasonable base of readers, they will have a steady future, added the observer.