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Japan's Proto buys MTM Multimedia for RM110m
by hlk Thu 28 Jul 2011, 07:46
Proto has announced to the Tokyo Stock Exchange that it is acquiring all 500,000 MTM Multimedia shares from two individuals.
Kuala Lumpur: Japan's Proto Corp is buying MTM Multimedia Sdn Bhd, publisher of Motor Trader and Autocar Asean magazines, for RM109.67 million.
Proto announced to the Tokyo Stock Exchange yesterday that it is acquiring all 500,000 MTM shares from two individuals.
MTM had set a new trend in the Malaysian new and used car classifieds market through Motor Trader, when it started in 1998.
The magazine offered the placement of a colour photo of the vehicle that is put up for sale alongside its relevant details. This opened up a whole new approach to selling new and used cars.
In the past few months, Japanese firms have spent big to snap up Malaysian assets to bolster their operations. They included Mitsui & Co Ltd's RM3.3 billion purchase of a 30 per cent stake in Khazanah Nasional Bhd's Integrated Healthcare Holdings Bhd in April and Oji Paper Co Ltd's RM258 million takeover of HPI Resources Bhd in June.
Last week, Asahi Group Holdings bought soft drink company Permanis Sdn Bhd for RM820 million from CI Holdings Bhd
Kuala Lumpur: Japan's Proto Corp is buying MTM Multimedia Sdn Bhd, publisher of Motor Trader and Autocar Asean magazines, for RM109.67 million.
Proto announced to the Tokyo Stock Exchange yesterday that it is acquiring all 500,000 MTM shares from two individuals.
MTM had set a new trend in the Malaysian new and used car classifieds market through Motor Trader, when it started in 1998.
The magazine offered the placement of a colour photo of the vehicle that is put up for sale alongside its relevant details. This opened up a whole new approach to selling new and used cars.
In the past few months, Japanese firms have spent big to snap up Malaysian assets to bolster their operations. They included Mitsui & Co Ltd's RM3.3 billion purchase of a 30 per cent stake in Khazanah Nasional Bhd's Integrated Healthcare Holdings Bhd in April and Oji Paper Co Ltd's RM258 million takeover of HPI Resources Bhd in June.
Last week, Asahi Group Holdings bought soft drink company Permanis Sdn Bhd for RM820 million from CI Holdings Bhd
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