Before I talk about this news here is some trivia.
Last year a couple of my friends (one of whom was a long time Utusan man) called me over for dinner. They were putting together a plan to take over Utusan Malaysia. Bring in new shareholders. (By the way do you know who is among the largest shareholders of Utusan - before Syed Mokhtar?)
I was asked if I would like to "help". I was offered a few things - a seat on the Board. Plus one other suggestion - that I could even assume the post of MANAGING EDITOR, Group Editor etc of Utusan Malaysia.
Well obviously their plans have not 'fully materialised'.
But this is Malaysia Boleh.
Anything is possible in Malaysia Boleh.
Me as MANAGING EDITOR of Utusan Malaysia?
Now that is a thought.
Of course I can handle it. Hands down.
I would send the reporters and journalists running after all those things I write about in the Blog. I believe many of you would start reading the Utusan as well. Ha ha ha. I wont get the job. Ho ho ho.
Anyway Utusan now has gone bungkus. Here is the story:
Employees of Utusan Melayu told to leave office by 1pm Wed (Oct 9)
cash-strapped company officially ceases operations.
poor cash flow, mounting debts, declining sales
board approved Creditor's Voluntary Liquidation proposal
company no longer solvent to continue business
company will cease operations Wed 9 Oct 2019
workers have until 1pm today to pack up
since few years Utusan gone through critical period since 80 years ago
many efforts to put company in more stable position but to no avail
declining circulation
failed to achieve target RM4mil ads per month
caused cash flow more critical
workers' salaries delayed, unpaid debts
company facing various legal actions by creditors
workers termination benefits subject to law
OSTB : I believe Utusan can be revived. Tapi acuan kau orang tak boleh pakailah. Thats the point.
cash-strapped company officially ceases operations.
poor cash flow, mounting debts, declining sales
board approved Creditor's Voluntary Liquidation proposal
company no longer solvent to continue business
company will cease operations Wed 9 Oct 2019
workers have until 1pm today to pack up
since few years Utusan gone through critical period since 80 years ago
many efforts to put company in more stable position but to no avail
declining circulation
failed to achieve target RM4mil ads per month
caused cash flow more critical
workers' salaries delayed, unpaid debts
company facing various legal actions by creditors
workers termination benefits subject to law
OSTB : I believe Utusan can be revived. Tapi acuan kau orang tak boleh pakailah. Thats the point.
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