I didn't hear how much SMAB paid for the stake but he's not known for making bad investments. The newspaper industry in Malaysia is death-defying; while dailies in most other countries suffer from dwindling sales (many have had to close shop, citing the Internet challenge), the local industry has actually grown in spite (or because) of the new/social media. This year alone, several new titles have debuted, including the Weekend Runner, business weekly Focus, and of course The Heat, which was last week suspended indefinitely for offending the conditions attached to its KDN (publishing permit).
|Net worth US$2.7 b as of March 2013, says Forbes|
Knowing Syed Mokhtar, I don't think he will stop with the Reserve. And why should he?