Bloomberg Television partners with Malaysia's Encorp Group to create first Malaysian business news channel
A partnership has been formed between Bloomberg Television and Encorp Group Sdn Bhd to create Malaysia's first business news channel in 2014. Encorp Group is a privately-held firm controlled by former Malaysian Minister of Agriculture Dato Sri Mohn Effendi Norwawi. Dato Sri Effendi, who also served as a Minister in the Prime Minister's Department in charge of The Economic Planning Unit, established Malaysia's premier free-to-air TV channel ntv7. He has since exited from the channel.
According to a statement from the firms, Bloomberg Television Malaysia will combine the extensive resources of Bloomberg, which is yet unrivalled with the quality content produced locally, to come up with a deep and broad coverage of the vibrant business scene in Malaysia.
Head of Bloomberg Television for Asia Pacific Parry Ravindranathan said, "Malaysia's business sector and capital markets have gone from strength-to-strength in recent years and have been fundamental in Malaysia's economic transformation. It is one of the largest centers in the world for Islamic finance and an increasingly important hub in ASEAN for key strategic industries. This has driven global and local demand for comprehensive business news from Malaysia, providing an exciting opportunity for Bloomberg Television Malaysia to play a role in meeting that need."
Encorp Group will be responsible for constructing the state-of-the-art studios for Bloomberg TV Malaysia. It will also develop anchors and reporters in the unique and dynamic reporting style of Bloomberg Television, the statement said. The business channel pledges to give Malaysian viewers in-depth coverage of local business stories, as well the latest reporting on global financial markets that affect the Malaysian economy. The new channel will be headed by media industry veteran Michael Chan. A website will also be launched for Bloomberg TV Malaysia.
Dato Sri Effendi said, "It is a real privilege and honor for us to partner with Bloomberg Television in Malaysia, given the prestige of the brand and all it stands for. My team and I will strive to set the bar for business news reporting in one of Asia's best performing economies."