MediaCorp Makes Vietnam Investment

SINGAPORE, February 21:
Singaporean media group MediaCorp has taken a stake in a new Vietnamese company
that will produce entertainment and financial news content and assist in the
establishment of a new channel in the latter half of this year.

Along with FS
Communications, a leading Vietnamese advertising firm, Kinh Do Corporation, a
listed confectionery company, and a group of Vietnamese businessmen, MediaCorp
has taken a 20-percent stake in International Media Corporation (IMC).

IMC will develop and produce
entertainment and business news content and assist the broadcaster Vietnam
Multimedia Corporation to launch a new television channel in the second half of
the year.

"Vietnam is not a new
market to MediaCorp as our dramas, formats, artistes and Channel NewsAsia are
seen by Vietnamese households,” said Lucas Chow, the CEO of MediaCorp. “This
collaboration with IMC is MediaCorp’s first strategic investment in Vietnam and
we look forward to lend our expertise in the areas of programming, branding,
promotion, management and airtime sales. We are excited by its prospects and
potential as Vietnam's advertising market has been growing at 20-30 percent
annually. We also see this as the beachhead for more opportunities as we begin
to participate actively in this market.”

Last week, MediaCorp
announced a 22.66-percent investment in the Chinese outdoor advertising firm
Dahe Media, which has one of China’s largest advertising and sales networks
with 170,000 square meters of billboard space.

—By Mansha Daswani