After Media Prima sale to Syed Mokhtar, Umno eyes disposal of more assets

Annuar declined to provide more details of which assets his party will put up for sale. — Picture by Yusof Mat Isa
Annuar declined to provide more details of which assets his party will put up for sale. — Picture by Yusof Mat Isa

KUALA LUMPUR, July 8 — Umno is preparing to dispose of more of the party’s holdings, secretary-general Tan Sri Annuar Musa said today.

However, he declined to provide more details of which assets his party will put up for sale.

“I cannot give more details as it’s up to the treasurer.

“I can confirm that there are efforts to relinquish more shares that are held by Umno to the bidders,” he told reporters when met at the Parliament lobby here today.

Datuk Seri Tengku Adnan Tengku Mansor is the Umno treasurer.

On Thursday, Annuar had said that the party's sale of a partial stake in Media Prima Bhd was part of the restructuring and reviewing process of its investment portfolios to generate funds.

The Keterah MP also said the measures were meant to ensure Umno’s financial viability moving forward.

Tan Sri Syed Mokhtar Shah Syed Nor Albukhary had bought Umno’s 123 million share in the media group, which had been held in proxy by Gabungan Kesturi Sdn Bhd, for an estimated RM73.81 million.

The acquisition will expand the tycoon’s media presence by adding to his equity in Utusan Melayu Bhd and The Malaysian Reserve.

The Malay nationalist party still retains, however, an almost 8 per cent stake in Media Prima.