Monday, December 04, 2006

Utusan merger is OFF, for now

Face-saving semantics. NSTP and Utusan Melayu have postponed their press conference until further notice, according to a joint statement quoted by theedgedaily here a while ago.

[Please note that it is the press conference and not the proposed merger that is being postponed].
[p.s. To avoid a bloodbath at the stock market tomorrow, NSTP may inform the Bursa that they are trying to finalize details of the merger and, therefore, would need the suspension of their counters since last Friday to be extended].

Non-disclosure agreement.
In separate joint statements, according to Bernama here, NSTP and Utusan Melayu told Bursa Malaysia that:
1/they haven't reached an agreement on the merger
2/they want to continue to explore the merger possibility and
3/they'll inform the Bursa should a final agreement materialize.
In the meantime, the two parties have signed a non-disclosure agreement. They have also decided to continue suspending their counters.
"Pursuant to excessive speculation in the stock market, the boards of both companies decided to suspend the trading of the stocks to enable both parties to commence negotiation on the terms of the cooperation," they said.
There won't be a bloodbath tomorrow.


  1. Anonymous12:22 pm

    Another Pak Lah YO YO in the making. Go, Pak Lah ,Go ... make all of us sick from another roller coaster ride. Wheeeeee !!

    Destroy all icons that carries Malay, Malaysia and Melayu names !!!

  2. Anonymous12:30 pm


    Now comes the fall. This is a slap on the face of some money spinners.

    And for all those suckers who chased the stocks of both papers, get ready to get burnt.

    Apparently, there has been serious and steadfast opposition from certain Umno Supreme Council members.

    They were afraid of Utusan losing its Malay identity and being swallowed by NST.

    In all likelihood, the deal is off. To save face, they might comes out with some terms such as "collaboration", partnership etc.

    Expect a massive ruckus on Utusan and NST shares tomorrow.


  3. Anonymous12:54 pm

    A lot of small players will get their hands burn tomorrow. I have no pity for them. I have no love for the people at Media Prima Sdn Bhd and NST who screw this whole thing. That the PM agreed to their idea, even let them suspend trading, is incredible hulk. He drifted off when those boys came to brief him. Thank you to the Umno leaders who stood up for Utusan last Friday at Majlis Tertinggi.we know who you are.

  4. Anonymous4:06 pm

    Delayed but not stopped. Sad to say the greed for power and self-preservation will ultimately overcome altruism. The postponement is merely a hiccup.

    The need to control the mainstream media is crucial for these people, because the majority of their power base do not have access to the internet, thus have to rely on the newspapers and televisions for their news. Controlling the source of these news means controlling the mind of the people. You know the rest.

    The merger is not about synergy. It is not about the bottom lines. It is about power, holding on to it for as long as they can. Country be damned. Melayu be damned.

    Sad. For the malays are still in slumber.

  5. Anonymous4:19 pm

    rasanya cuma pre-marraige jitters

    sekejap lagi setelah NST dan Utusan berjaya di nikahkan, tiba masa untuk kahwinkan TM dengan UtusanNST.

    Segalanya mungkin.


  6. Anonymous5:01 pm

    Its on again Bro!!!! Merger approved!!!


  7. Anonymous6:05 pm


    Its on again Bro!!!! Merger approved!!!


    What's yr source?

  8. Anonymous10:04 pm

    Dear Rocky

    When ECM Libra taken over Avenue Assets, a government owned company, anything goes. SO I am not going with the merger of this copmpany and the other.

    They were all done for the good of the country. The rakyat knew that there done for the pockets of one or two Malay and not in the Malay community interest. You know who are the TWO!!!

  9. Anonymous1:09 am

    as an observer, who may have been too young to remember some things, the malays are not a race to sit around and watch their identity being wiped out.

    they are very attached and passionate about being Melayu.

    this threat was a strong emotional trigger for the birth of UMNO in opposition of the Malayan Union, May 13, anwar's rise (being a true malay - a good muslim etc), and soon the impending doom in the upcoming GE.

    the seeds of discontent were sown over Dr M's reign.

    chatting with many malay friends in my college days, they too were disenchanted by the country's malignant corruption and greed. for the past 10 years, this has been festering and is almost ready to blow up in our faces.

    those behind the merger are not destroying newspapers.

    they are destroying the malay pride, the collective malay pride.

    i think it's a very dangerous game.

    betraying the Malay agenda by merging Utusan with NST is dangerous.

    i can already hear the PAS ceramah:
    "UMNO adalah pengkhianat Melayu." -- but now with a really, really strong reason for saying that.

    sorry if my malay not too good ;D