KUALA LUMPUR, Dec 12 — Bloomberg Television has formed a partnership with Encorp Group Sdn Bhd to create the first business news channel in Malaysia, the global multi-platform 24-hour business and financial news network announced today.

In a statement, it said Bloomberg Television Malaysia would combine the unrivalled resources of Bloomberg with locally produced quality content to deepen and broaden coverage of Malaysia’s vibrant business scene.

Encorp Group is a privately held vehicle controlled by Datuk Seri Mohd Effendi Norwawi, a former minister and founder of ntv7, a free-to-air TV channel.

Head of Bloomberg Television for Asia-Pacific, Parry Ravindranathan, said Malaysia’s business and capital sectors had developed from strength to strength in recent years, including being one of the world’s largest Islamic finance centres and an increasingly important hub in ASEAN for key strategic industries.

“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,” he said.

Media industry veteran Michael Chan will head the new channel, which will set its studio in Encorp Strand and develop anchors and reporters in Bloomberg Television’s unique and dynamic reporting style.

A website will be launched to stream content online and to mobile devices.

The joint operation will start next year.

The new channel would fill a gap for high-quality, in-depth coverage of market-moving business news, as well as up-to-the minute reporting on global financial markets to a potential audience of 340 million homes worldwide, Bloomberg Television said. — Bernama