rocky's bru

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Done deal: Syed Mokhtar to take over the Reserve Posted: 22 Dec 2013 09:53 PM PST   After months of talk, I hear that reserved tycoon Syed Mokhtar al-Bukhary has finally struck a deal with owners of the Malaysian Reserve, which will see him control 91% in the only local business daily affiliated with the International New York Times. 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?

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