KUALA LUMPUR — Aug. 20, 2019: Employees of the Utusan Melayu Group today received encouraging news when its executive chairman and main owner confirmed that the company will remain in business but with an increase in the cover prices of its two remaining newspapers.
However, the fact remains that the 80-year-old company is struggling financially.
The decision to stay afloat was told to the press by executive chairman Datuk Abdul Aziz Sheikh Fadzir after a briefing for staff.
“If we were talk about operations, Utusan would have been gone 10 years ago. If we want to talk about losses, Utusan has been experiencing losses since 2010 just that it was still subsidised by the government,” said Aziz.
The decision to increase the selling prices for Utusan Malaysia and Kosmo by 50 cents a copy is effective this Friday. The former is sold at RM1.50 while Kosmo costs RM1.
One asset the company is trying to offload to raise cash is its printing plant in Bangi valued at about RM60 million. — Bernama