The Malaysian Insider ceases operations with immediate effect
Lack of commercial support and monthly losses of about RM2m cited; run-ins with the authorities also hurt negotiations to sell news portal
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Kuala Lumpur
CITING monthly losses of about RM2 million (S$668,260) and the lack of commercial support, the owner of The Malaysian Insider (TMI) has decided to halt operations with immediate effect.
"TEMG (The Edge Media Group) has incurred losses of around RM10 million in the 20 months since we acquired TMI in June 2014 and we are no longer in a position to keep it going," Edge Insider Sdn Bhd director and The Edge Media Group publisher and group chief executive Ho Kay Tat said in a statement on Monday.
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