Media Prima Berhad announced today that it has initiated an acquisition of its headquarters in Bangsar, Kuala Lumpur, as part of its plans to ensure long-term security for the Group’s business operations.
The Group has accepted a letter of offer from PNB Development to acquire Balai Berita Bangsar for a purchase consideration of RM156.4 million. The proposed acquisition is subject to a formal sale and purchase agreement to be entered into between Media Prima and PNB Development.
According to a statement released by Media Prima, the group is currently renting Balai Berita Bangsar from PNB Development and the property currently houses the corporate headquarters and offices for its subsidiaries.
In 2018, Media Prima entered into a sale and leaseback exercise with PNB Development, which involved properties owned by The New Straits Times Press (Malaysia) Berhad including Balai Berita Bangsar.
In July 2020, as a cost-cutting measure, Media Prima Bhd said it may end its lease agreement with Permodalan Nasional Bhd (PNB) for a property in Bangsar.
MARKETING Magazine is not responsible for the content of external sites.
The APPIES is an annual event that presents a rare opportunity for creative, media, digital and marketing agencies or brands to present their best campaigns to the industry.
This is the only event where Live Presentations meets Live Judging.
Similar to TED Talks, The APPIES is the chance for great presenters with outstanding work to show it off to some of the industry’s most important industry leaders.
This year’s winners will receive Gold, Silver or Bronze trophies for 21 categories, and 6 special Best of Best categories (red trophies) that require no submissions!
Campaign entries must have run between June 2023 to May 2024
Submissions Deadline
30th June 2024
APPIES Festival – Judging & Presentations
11th – 12th July 2024 (Malaysia)
