PETALING JAYA: Native Malay every day Utusan Malaysia and its sister publication Kosmo! formally ceased operations in the present day, with greater than 700 workers to be served with a dismissal discover.
“Utusan Malaysia and Kosmo! failed to satisfy the goal of RM4 million month-to-month promoting income,“ its chief government officer Datuk Abd Aziz Sheikh Fadzir stated in an announcement in the present day.
In accordance with an internet information portal, the choice was made because the newspaper firm is unable to bear the burden of its accrued money owed through the years, estimated to be between RM240 million and RM340 million.
The nation’s oldest Malay language newspaper which has been in operation for 80 years stated in an announcement in the present day that it had despatched out an inside memo to tell all of its workers that its board of administrators authorized on Oct 7 the collectors’ voluntary liquidation and has appointed UHY Advisory (KL) Sdn Bhd as its interim liquidator.
In the meantime, Umno secretary-general Tan Sri Annuar Musa urged all quarters to not be nostalgic over the closure of Utusan Malaysia, regardless of its wealthy historical past within the business, because the shutting down of firms is an element and parcel of doing enterprise.
Annuar stated he believed the choice to stop operations was purely a enterprise one and whereas some is perhaps sentimental over the choice, this was “enterprise actuality”.
“There are two points right here pertaining to their closure. One is sentiment, the opposite is the truth of enterprise,” he instructed reporters when met in Parliament, right here in the present day.
“Utusan’s resolution to cease publication is unlucky, because it has existed even earlier than independence, and was one of many newspapers to have performed a number one function in selling nationalism and pushing for independence.
“However we should not be nostalgic over historical past in terms of enterprise. The shareholders and board of administrators have decided and we should respect that,” he added.
Commenting additional on the matter, Annuar stated Umno — which previously owned Utusan — wouldn’t intrude within the publication’s resolution, because the celebration was now not a part of Utusan’s board.
“We can provide our opinion however we will’t do anything, as a result of the celebration no lengthy has energy over Utusan. We don’t personal them any extra,” Annuar stated.
Datuk A. Kadir Jasin, communications and media adviser to Prime Minister Tun Dr Mahathir Mohamad, stated Utusan confronted a scarcity of belief in its reporting, a dwindling circulation and promoting income.
“In a nutshell, I need to say Utusan had misplaced its momentum and enterprise dynamics,” he stated on his weblog.
Kadir, who’s former Information Straits Instances Press (NSTP) Group editor, stated the appointment of latest faces to move the media-related division for Umno and authorities intervention in information reporting led to a discount in gross sales.
“Certainly one of their greatest errors was to make use of the mass media to interrupt Dr Mahathir’s legacy and make Abdullah (former premier Tun Abdullah Ahmad Badawi) stand out,” Kadir stated.
“The ‘fourth ground boys’ within the Prime Minister’s Division throughout Abdullah’s administration ought to be blamed,” he stated, including they had been those who had energy on Umno-related mass media.
He stated the extreme and unprofessional interference triggered readers to lament that the newspaper, tv and radio belonging to Umno-related firms had been now not impartial and lack credibility.
“That was the start of the tip to the standard of journalism and likewise information publications for the Utusan Group,” he added.