|COVID–19 NEWS||COVID-19: Over 1.1 million kids in Malaysia fully vaccinated | MOH does not plan to extend PICKids | COVID : 30.4 pct of children in Malaysia fully vaccinated | N Korea reports one additional death amid COVID-19 outbreak | S Korea to resume issuing short-term travel visas, e-visas next month ||
KUALA LUMPUR, July 2 -- Media Prima Bhd has accepted an offer from PNB Development Sdn Bhd for the media company to acquire Balai Berita Bangsar for RM156.4 million.
In a statement, the media group said it initiated the acquisition of its headquarters in Bangsar, Kuala Lumpur, as part of its plans to ensure long-term security for the group’s business operations.
Media Prima said the strategic location of Balai Berita Bangsar will support the group’s operations and future growth, hence the proposed acquisition will provide long-term certainty to ensure that its operations are not disrupted.
“While the proposed acquisition makes a good business proposition for our sustainability moving forward, it will also mitigate against the risk of a potential increase in rental rates.
“We intend to invest in new studios that will complement our existing studios to cater to our growing content production requirements as well as to consolidate newsgathering operations,” it said.
Currently, Media Prima is renting Balai Berita Bangsar from PNB Development and the property houses the group’s corporate headquarters and offices for subsidiaries.
In 2018, Media Prima entered into a sale and leaseback exercise with PNB Development, involving properties owned by The New Straits Times Press (Malaysia) Bhd, including Balai Berita Bangsar.
PNB Development is a wholly-owned subsidiary of Permodalan Nasional Bhd.
Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial