SOME of the Kumpulan Utusan Melayu Bhd staff who lost their jobs when the company folded yesterday will be absorbed into the new company that is taking over the publication, said Dr Mahathir Mohamad.
Utusan Malaysia and Kosmo publisher Utusan Melayu Bhd, a newspaper company that dates back to the late 1930s, had shut down and terminated about 800 of its employees.
The decision was made after Utusan could no longer bear the burden of debt accumulated over the years, estimated at between RM240 million and RM340 million.
Utusan Malaysia will “live on” under another company linked to tycoon Syed Mokhtar Albukhary, The Edge reported today.
However, re-employing existing staff will be up to the new shareholder, the business paper quoted Utusan Melayu (M) Bhd executive chairman Abd Aziz Sheikh Fadzir as saying.
The country’s oldest Malay-language newspaper will be relaunched under Syed Mokhtar’s company, Aurora Mulia Sdn Bhd, which has ownership of the printing licences, said Aziz.
“Utusan will live on. We are liquidating the holding company but the ownership of the printing licences [has] been acquired by Aurora Mulia and it will relaunch publications in the near future.” – October 10, 2019.
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