tv3

Ibrahim Nor Could Take Over Malaysia's TV3
------------------------------------------------
Padiberas Nasional Bhd (Bernas) group managing director Mohd Ibrahim Mohd Nor could be the new major shareholder in the ailing Sistem Televisyen Malaysia Bhd (TV3), according to Malaysia's Sun newspaper today (12/11).
Sources said Ibrahim was the likely candidate to buy a stake in the country's first private television station from the debt-laden Malaysian Resources Corporation Bhd (MRCB), which controls 49% of TV3. Saddled with RM1 billion (US$263 million) debts, MRCB is looking for buyers for its non-core assets. The stake for sale is in the region of 30%, as MRCB is not expected to sell its entire interest in TV3.
TV3, which began operations in 1984, reported a net loss of RM144.04 million for the financial year ended Aug 31, on the back of RM222.45 million in turnover. Last year it posted a net loss of RM268.25 million.
According to research forecasts, television advertising in Malaysia will hit an all-time high of more than RM840 million this year, RM930 million next year and RM1.2 billion in 2002.

From The Singapore Straits Times,
28th July 1999

Shake-up at Malaysia's biggest media group

KUALA LUMPUR -- Malaysia's top media group announced a sweeping
management reshuffle yesterday, following what has been seen widely as
a politically-motivated change in the ownership of the controlling
company.

The changes at New Straits Times Press (NSTP) and Sistem Televisyen
Malaysia (TV3) coincided with news that low-profile businessman Datuk
Abdul Rahman Maidin had acquired 95 per cent of Realmild Sdn Bhd.

Realmild controls Malaysian Resources Corp (MRCB), a diversified
property developer which is the main shareholder in NSTP and TV3, one
of two private television stations.

Datuk Abdul Rahman, appointed MRCB chairman last week, replaced MRCB executive director Ahmad Nazri Abdullah as the leading Realmild shareholder.

Datuk Nazri had resigned as group editor of Berita Harian Malaysia
last July after a series of run-ins with Prime Minister Datuk Seri Dr
Mahathir Mohamad.

The editor-in-chief of rival daily Utusan Malaysia Johan Jaffar
resigned at the same time for similar reasons.

Both were seen as being too close to the then Deputy Prime Minister
Anwar Ibrahim, who was sacked last September.

While Datuk Nazri had kept a low profile, notably since Anwar's
arrest, his continued shareholding in Realmild had delayed
restructuring of the group.

A statement published by pthe group's newspapers yesterday said Datuk
Nazri and two of the other three Realmild shareholders had resigned
from the NSTP board and that five new directors, including Datuk Abdul
Rahman, had been appointed.

The others who resigned were NSTP managing director Mohamed Nor
Mutalib and former MRCB chairman Khalid Ahmad, the statement said.

According to separate statements, all three have also resigned as TV3
directors.

They have also quit the various positions they held at MRCB and its
affiliated power company, Malakoff Bhd.

The fourth Realmild shareholder is NSTP group editor-in-chief Abdul
Kadir Jasin, a Mahathir loyalist who is believed to hold the remaining
5 per cent share in the controlling company.

Apart from Datuk Abdul Rahman, the new directors at NSTP include
former chief operating officer Faiz Ishak, now the new managing
director.

The three others are former general manager of circulation Mohamed
Ibrahim Mohamed Nor, who now heads a rice company; managing director
Ahmad Jauhari Yahya of a Malakoff subsidiary; and former group editor
P.C. Shivadas.

While little is known about Datuk Abdul Rahman, an analyst with a
bank-linked brokerage said he would have to have the blessing of top
government leaders.

As the country's largest media group, any takeover "should have the
consent of the right people up there", he told AFX-Asia, an
AFP-affiliated financial news service.

"This whole thing has to be political but at the same time, it is good
for the company," he added. -- AFP

Date: Sat Feb 24, 2001 9:18am
Subject: UMNO's TV3 Reports Deficit In Shareholders' Funds

Friday, February 23 9:45 PM SGT

Malaysia's TV3 Reports Deficit In Shareholders' Funds
KUALA LUMPUR (Dow Jones)--Sistem Televisyen Malaysia Bhd. (P.STV), or
TV3, Friday reported a deficit in shareholders' funds as at end-August 2000, placing the company in breach of the Kuala Lumpur Stock Exchange's revamped listing rules. In a statement, TV3 said it had a 337.5 million ringgit ($1=MYR3.80) deficit in shareholders equity as at Aug. 31.

TV3 joins the rank of a number of companies which reported negative
shareholders funds after a new stock exchange requirement became
effective Feb. 15.

Under the stock exchange's revised listing rules, a company's continued listing must be warranted by its financial condition.

TV3 said it has appointed Arab-Malaysian Merchant Bank as adviser to work out a debt restructuring scheme to regularize its financial
condition.

The company said it will announce details of the plan once it is finalized.

TV3 is the operator of Malaysia's first private television station. .