Chinese media tycoon Tiong Hiew King has become one of the largest shareholders in rival media group Nanyang Press Holdings Bhd.

The Nanyang Press annual report lists Tiong's Pemandangan Sinar Sdn Bhd and Tiong Toh Siong Holdings Sdn Bhd as the 12th and 13th-largest shareholders.

As they hold 0.30 and 0.26 percent of shares respectively, Tiong effectively controls at least 0.56 percent of Nanyang shares.

Pemandangan Sinar is the publisher of two major Chinese newspapers Sin Chew Daily and Guang Ming Daily . Tiong Toh Siong Holdings is a Sarawak-based timber exporter.

The annual report, released last November, also names low-profile businessman Mah Keng Hock's New Paragon Limited as the second-largest shareholder with a total stake of 23.8 percent.

Ever since Mah bought the shares last August, speculation has been rife that he was acting as a proxy for Tiong, who wished to avoid a public outcry against Pemandangan Sinar's potential monopoly of the Chinese newspaper market.

Pemandangan Sinar was rumoured to have been working with MCA in the party's acquisition of Nanyang Press publisher of Nanyang Siang Pau and China Press in May 2001. This was denied at the time.