Fireworks expected at Star Publications AGM
Star Publications (Malaysia) Bhd’s annual general meeting tomorrow is expected to be a fiery one with shareholders focusing on its main product, English language newspaper The Star 's slanted coverage of events leading up to the general election and how it has the potential to affect its business.
Star Publications (Malaysia) Bhd’s annual general meeting tomorrow is expected to be a fiery one with shareholders focusing on its main product, English language newspaper The Star 's slanted coverage of events leading up to the general election and how it has the potential to affect its business.
Sources said that there has been considerable introspection over
The Star
’s election coverage, especially among staff, some of whom expressed their concern over the risk to the company’s main business.
Some directors were said to have supported these views by executives and were initially told that they should decline to be renominated as directors.
But subsequently some of these directors were told by external parties not to withdraw their candidacies.
The company is 42 percent owned by the MCA and therefore comes under the control of MCA president Chua Soi Lek (
left
).
According to the sources, Chua supported a proposed move by management to take over Star Publications via a management buyout (MBO) before the general election.
Those said to be involved in the MBO were Star Publications chairperson Fong Chan Onn, executive deputy chairperson Vincent Lee and executive director and group chief editor Wong Chun Wai.
Fong however has previously denied that there was ever such a move.
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