Tycoon denies interest in Utusan
Published: Jan 25, 2007 12:38 PM | Updated: Jan 29, 2008 6:21 PM
Corporate figure Syed Mokhtar AlBukhary today denied that he was keen to raise his stake in Utusan Melayu (Malaysia) Sdn Bhd.
Corporate figure Syed Mokhtar AlBukhary says there is no truth in media reports over his supposed interest to buy Utusan Melayu.
Corporate figure Syed Mokhtar AlBukhary today denied that he was keen to raise his stake in Utusan Melayu (Malaysia) Sdn Bhd.
A statement from his office said the tycoon has no interest to buy any shares in Utusan Melayu, the publisher of the best selling Malay daily Utusan Malaysia.
"We deny media reports and wish to state that Syed Mokhtar has no plans to buy shares in Utusan Melayu for the time being," read the statement.
"We wish to stress that media reports (about the potential purchase) was inaccurate and without basis."
The statement was referring to Bernama report on Tuesday about Syed Mokhtar's interest in the daily.
The report quoted a source as saying that Syed Mokhtar had sent his representative for an informal meeting with Umno towards the end of last year when talks were ongoing on a possible merger between Utusan and New Straits Times Press (M) Bhd (NSTP).
However, no answer has been forthcoming since the meeting, said the Bernama report.
The Star meanwhile reported that Syed Mokhtar, through his company Nilam Setar Sdn Bhd, holds a 20 percent equity in Utusan. Meanwhile Bernama's source said Syed Mokhtar had 30 percent share in Utusan.
The source also said that Syed Mokhtar was ready to buy as many Utusan shares offered at a price subject to negotiation, either through new capital injection into Utusan or buying the shares from Umno.
Utusan was recently involved in a merger talk with NSTP but the deal fell through following strict opposition from Umno Supreme Council members and grassroots leaders.
A statement from his office said the tycoon has no interest to buy any shares in Utusan Melayu, the publisher of the best selling Malay daily Utusan Malaysia.
"We deny media reports and wish to state that Syed Mokhtar has no plans to buy shares in Utusan Melayu for the time being," read the statement. "We wish to stress that media reports (about the potential purchase) was inaccurate and without basis."
The statement was referring to Bernama report on Tuesday about Syed Mokhtar's interest in the daily.
The report quoted a source as saying that Syed Mokhtar had sent his representative for an informal meeting with Umno towards the end of last year when talks were ongoing on a possible merger between Utusan and New Straits Times Press (M) Bhd (NSTP).
However, no answer has been forthcoming since the meeting, said the Bernama report.
The Star meanwhile reported that Syed Mokhtar, through his company Nilam Setar Sdn Bhd, holds a 20 percent equity in Utusan. Meanwhile Bernama's source said Syed Mokhtar had 30 percent share in Utusan.
The source also said that Syed Mokhtar was ready to buy as many Utusan shares offered at a price subject to negotiation, either through new capital injection into Utusan or buying the shares from Umno.
Utusan was recently involved in a merger talk with NSTP but the deal fell through following strict opposition from Umno Supreme Council members and grassroots leaders.
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