Najib claims once Umno mouthpiece NST no longer a friend
Former premier Najib Abdul Razak is of the opinion that it makes no difference if Umno holds a minority stake in Media Prima Bhd.
Singling out the New Straits Times, he said the newspaper, which was once regarded as an Umno mouthpiece, is no longer friendly to the party...
Former premier Najib Abdul Razak is of the opinion that it makes no difference if Umno holds a minority stake in Media Prima Bhd.
Singling out the New Straits Times, he said the newspaper, which was once regarded as an Umno mouthpiece, is no longer friendly to the party.
He was commenting on Umno selling its interest in Media Prima.
"It is a necessity for Umno to so... [furthermore] Media Prima is not within Umno's effective control," he told reporters when met at the sidelines of his court hearing in Kuala Lumpur this afternoon.
The Edge Financial Daily reported yesterday that Umno had sold its 11.09 percent stake in Media Prima.
The party still holds a 7.96 percent stake through Altima Inc in the media conglomerate, which has a presence across newspapers, TV and radio in three languages.
Umno secretary-general Annuar Musa said, meanwhile, that the offloading of the Media Prima shares were part of the party’s restructuring process, including of its investment portfolio.
“As a political party, we have to plan for the future. So, many things have been going on with regards to our investments.
“But I can't comment (on the restructuring of its investment portfolio), because it is confidential, and involves other shareholders,” he told reporters at the Parliament lobby today.
The Edge Financial Daily had said that Umno sold its stake in Media Prima, which had been held in proxy by Gabungan Kesturi Sdn Bhd, to tycoon Syed Mokhtar Al-Bukhary.
However, it was not made clear if Syed Mokhtar made the purchase in his personal capacity or via one of his companies.
The businessperson already has interests in media companies, such as Malaysia Reserve and Utusan Melayu Bhd.
DRB-Hicom Bhd, of which Syed Mokhtar is the biggest shareholder, denied it acquired the stakes, and that it planned to acquire another eight percent.
Additional reporting by LU WEI HOONG.
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