As the domestic arm of Bloomberg Television undergoes a realignment of sorts, there is international expansion for the network on the horizon: Bloomberg TV will partner with Encorp Group to launch the first business news channel in Malaysia next year.
The channel will have state-of-the-art studios in Encorp Strand Mall and seek to “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,” Bloomberg TV Malaysia CEO Michael Chan said in a statement.
The expansion to Malaysia follows the launch of Bloomberg TV Indonesia and Mongolia in the past year. More details in the press release after the jump.
Kuala Lumpur — 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.