KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Bloomberg Television today announced that it has entered into a landmark partnership with former Malaysian Minister and founder of ntv7 Dato Sri Mohd Effendi Norwawi’s Encorp Group Sdn Bhd. Bloomberg Television and Encorp Group will cooperate to create the first business news channel in Malaysia in 2014.
Bloomberg Television Malaysia will combine the unrivalled resources of Bloomberg with locally produced quality content to deepen and broaden coverage of Malaysia’s vibrant business scene.
"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,” said Parry Ravindranathan, Head of Bloomberg Television for Asia-Pacific.
Dato Sri Effendi added, “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.”
Encorp Group Sdn Bhd will build Bloomberg TV Malaysia’s state-of-the-art studios in Encorp Strand and will develop anchors and reporters in Bloomberg Television’s unique and dynamic reporting style. Malaysian viewers can expect in-depth coverage of local business stories as well as up-to-the minute reporting on global financial markets that affect the local economy. Media industry veteran Michael Chan will head the new channel and a new Bloomberg TV Malaysia website will be launched for streaming of content online and to mobile devices.
Michael Chan, CEO of Bloomberg TV Malaysia said, “Bloomberg TV Malaysia will fill a gap in the marketplace for high-quality, market-moving business news, where updates on the country’s economic and business performance will be potentially seen by 340 million homes worldwide.”
“By partnering with Encorp Group, Bloomberg Television has chosen the best partner with unmatched broadcast experience and entrepreneurial spirit to deepen our ASEAN business coverage,” said Gary Groenheim, Commercial Director of Bloomberg Television, Asia-Pacific.
The Malaysia partnership continues Bloomberg Television’s momentum in Asia, following the launch of Bloomberg TV Indonesia and Mongolia in the past year and the company’s ongoing investment in news coverage and product development in Malaysia. According to economists’ forecast compiled by Bloomberg, Malaysia’s economy is projected to expand by 5 percent next year, up from an estimated 4.5 percent in 2013.
About Bloomberg Television
Bloomberg Television, an award-winning, multi-platform 24-hour business and financial news network, provides continuous coverage of the people, companies and ideas that move global markets. Broadcasting from centers in New York, London, Singapore and Hong Kong and powered with an unparalleled news gathering team of 2,400 news professionals in 150 bureaus across 73 countries worldwide, Bloomberg Television delivers real-time business news to 340 million households globally. In addition to major cable and satellite providers, Bloomberg.com and Bloomberg Mobile, the network is available on the Bloomberg Professional service, used by the most influential individuals, corporations, financial institutions, investors and the world's central banks, commercial banks, government agencies, legal professionals and news organizations. For more information on Bloomberg Television, please visit www.bloomberg.com/tv and follow us on Twitter (@BloombergTV) and Facebook.
About Encorp Group Sdn Bhd
Encorp Group Sdn Bhd is a privately held vehicle controlled by Dato Sri Mohd Effendi Norwawi, the former Minister of Agriculture and Minister in the Prime Minister’s Department in charge of The Economic Planning Unit who retired from active politics in 2008.
Dato Sri Effendi founded ntv7, Malaysia’s premier free-to-air TV channel (from which he has since divested), and was most recently Executive Chairman of the multi award-wining property development and construction group, Encorp Berhad, the company he founded and listed on the main board of the KLSE in February 2003.