Focus Malaysia changes hands
Razak Chik, Luqman Hariz
February 23, 2018 17:54 MYT
February 23, 2018 17:54 MYT
The latest development surrounding Focus Malaysia follows a tumultuous 2017 for the media sector. - Astro AWANI
Media circles went abuzz this morning with news that the ownership of Focus Malaysia, the business weekly founded in 2012 to rival The Edge, has changed hands.
When contacted, founder and managing director of digital branding and marketing agency Inno Mind Works Sdn Bhd (IMW) Datuk Michael Yip Chin Hwee confirmed that he had bought the title, but was not going to make an announcement of the acquisition.
"We are in the midst of transition to the digital platform as that is the main agenda," he told Astro AWANI today.
This development follows drastic measures taken by mainstream media companies to slim down their operations with the offer of voluntary redundancies in 2017.
Focus Malaysia is published by HCK Media, a division of HCK Capital Group.
In a reply to Astro AWANI today, HCK Capital Group Executive Chairman Tan Sri Clement Hii confirmed that the publication is not headed for closure.
He added that a statement will be issued in the next issue of Focus Malaysia.