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NeST-UM counters tumble on re-opening

Shares in New Straits Times Press and Utusan Melayu tumbled more than 20% this morning when the counters re-opened after the companies failed to seal a merger deal.

NSTP shares fell to a low of RM2.28, down 22.5%, in early trade while Utusan shares dropped to RM1.45, down 20.8%

But it was enough to help those in the know to make a quickie as early as the week ending November 24. It's more than one week of good harvesting of pocket money for some -- a free-for-all, undetered until last Friday's 'voluntary suspension' on the bourse!

Meanwhile, the Umno chieftain gives away his worries that worry the Malays, via Bernama:

Abdullah said he hoped the proposed merger would not involve the editorial departments of the two companies which managed their respective newspapers.

"What the Malays do not want to see is that Utusan being sent to the grave due to the merger," he said.

Meanwhile, StarBiz adheres to PR statements and maintains that the NeST-UM merger talks are still on “until everyone gets what he wants from the merger”.

UPDATES: Shares of NSTP dropped 13.6% and closed at RM2.53, shredding 40 sen from the Friday price of RM2.94 when the shares were suspended pending the expected merger.

Utusan shares took a harder hit to close at RM1.56, or a drop of 14.75% - or 27 sen - from the last traded price of RM1.83.

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time to grab!

Both Utusan & NSTP are doom. They are profitable at the moment. But compare to theStar balance sheet, you will learn they are ""barely profitable".

"Abdullah said he hoped the proposed merger would not involve the editorial departments of the two companies which managed their respective newspapers."

Abdullah is correct n expressing that view. The Malay world view has for many decades been painted by one and reinforced by the other. That has been the role of Berita Harian and Utusan. So that to confirm that what one says is right you read the other. That is why it is possible for the seige mentality and the crutch mentality to be sustained for so long.

It is a fact that a large number of Malays, including the educated ones are completely guided by Utusan and/or Berita Harian of their view of the world, local politics and local reality. Utusan and Harian have successfully implanted in the minds of the majority of the Malays that they indeed need leaders who speak for their race and religion without having to check for content. That is why UMNO leaders have been able to create this virtual world where their continuied survival has been sustained by the world view painted by these two newspapers which play, not a competing role to one another, but complementing role.

Teh merger is bad for UMNO leadership survival when Malays stop confirming what one wrote with what the other writes and that is indeed a danger to UMNO leadership and their spin of the world.

"Abdullah said he hoped the proposed merger would not involve the editorial departments of the two companies which managed their respective newspapers."

Abdullah is correct n expressing that view. The Malay world view has for many decades been painted by one and reinforced by the other. That has been the role of Berita Harian and Utusan. So that to confirm that what one says is right you read the other. That is why it is possible for the seige mentality and the crutch mentality to be sustained for so long.

It is a fact that a large number of Malays, including the educated ones are completely guided by Utusan and/or Berita Harian of their view of the world, local politics and local reality. Utusan and Harian have successfully implanted in the minds of the majority of the Malays that they indeed need leaders who speak for their race and religion without having to check for content. That is why UMNO leaders have been able to create this virtual world where their continuied survival has been sustained by the world view painted by these two newspapers which play, not a competing role to one another, but complementing role.

Teh merger is bad for UMNO leadership survival when Malays stop confirming what one wrote with what the other writes and that is indeed a danger to UMNO leadership and their spin of the world.

Quoting from Gone With The Wind, I say:
"Frankly, my dear, I don’t give a damn."

SSince a majority os US have been condeming the manipulation of the news by The NST and UM stables of newspapers, why waste time whether they merge or not?
Except for the shareholders of shares -- which mean notamong those struggling to kasi page makan pagi -- I welcome the decline of the two grouops, so that more responsible and journalim-inclined papers like theSun and hopefuly the fortcopming Mind Massa will blossom and benefit from the void left beind by UM and NST.
It's a case of Good riddance to bad rubbish!

Err...Nestle tak marah ke dengan penggunaan perkataan yang begitu serupa dengan salah satu produk tandaniaga mereka? ;-) heh...heh...heh...

desiderata

A little literary correction.

In the actual novel, Rhett Butler did NOT use the word "Frankly". He just said,

"My dear, I don't give a damn."

It was Clark Gable who added the word word "Frankly..." in the movie. And the rest of the movie-going world got misled.

As you know,movies tend to distort the original stories to suit the whims and fancies of movie directors/producers to make sure you visit the cinemas for box-office credos.

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