Bloomberg Television Enters Malaysian Partnership for Business News Channel

KUALA LUMPUR: Bloomberg Television has formed a partnership with the former Malaysian minister and founder of ntv7 Dato Sri Mohd Effendi Norwawi’s Encorp Group to create the first business news channel in Malaysia.

Bloomberg Television Malaysia is expected to launch in 2014. It will combine Bloomberg's resources with locally produced content to cover Malaysia's business scene. Encorp Group will build Bloomberg Television Malaysia's studio and will develop anchors and reporters in Bloomberg Television's reporting style.

Media veteran Michael Chan has been tapped to head the new channel. A Bloomberg Television Malaysia website is also on the planner to stream content online and to mobile devices.

"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,” said Parry Ravindranathan, the head of Bloomberg Television for the Asia Pacific. "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.”

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.”

Michael Chan, the 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,” commented Gary Groenheim, the commercial director of Bloomberg Television for the Asia Pacific.