Old Wound Still Hurts
MCA is in the limelight again. This time for the sale of 21.02% of its share equity in Nanyang Publications Berhad. Nanyang publishes Nanyang Siang Pau and China Press. Both of the newspapers were quite critical of the government especially after the Anwar Ibrahim saga. After the take over by MCA five years ago, the circulation of both publications suffered. Worse for Nanyang.
On Tuesday, the MCA announced that it had decided to sell off 21.02% of its 41.02% stake in Nanyang to Ezywood Option Sdn Bhd.
Ezywood is owned by Sarawak timber tycoon Tan Sri Tiong Hiew King, who already owns two other Chinese newspapers – Sin Chew Daily and Guang Ming Daily.
The deal makes Tiong the 'Rupert Murdoch' of Malaysia, with his near monopoly of the Chinese print media. However, Tiong is seen as an ally of the MCA President Ong Ka Ting. Rita Sim, a trusted aide of Ong, and a deputy chairperson of INSAP (a think tank linked to MCA) is an executive director of Sin Chew Daily.