Sarawak timber tycoon Lau Swee Nguong has offered to buy media baron Tiong Hiew King’s entire stake in Nanyang Press Holdings Bhd and distribute it to the Chinese community. [Sun2surf]

Tiong created chaos in Chinese community when his newspaper company Ezywood Option Sdn. Bhd. took control of Nanyang in October 17, buying the stakes from MCA owned Huaran Holdings. The community feared that Tiong, who also own Sinchew, is going to monopoly Malaysia Chinese newspaper industry.

I felt that Tiong had a good reason to take over Nanyang, as MCA was losing big bucks with the newspaper company; and Tiong with his experience, sounds as the logical choice for the business deal.

It’s good to hear that Lau is offering an alternative, where upon successful takeover, he will redistribute the shares to no more than 5% to any single entity, thus hoping to build a newspaper that exist for the purpose of community building.

Things are still in initial stage, we’ll see how things will go in near future.

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