Thailand: Nation Multimedia Group to dispose of non-core assets worth $42.8m

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Nation Multimedia Group (NMG), a SET-listed media company, will sell its non-core assets, including its shares in digital TV channel Now26, and a printing plant, for 1.4 billion baht ($42.8 million) through a bidding process next year.

The disposed assets include Nation U (NU), which operates Nation University; Bangkok Business Broadcasting (BBB), which operates Now26 digital TV channel; WPS (Thailand), which operates a printing plant; NML, which provides logistics service; and its land and buildings.

The auction is expected to be completed around March-April 2018 after it is granted the relevant approval by its shareholders on February 28, NMG said in a filing to the Stock Exchange of Thailand on Wednesday.

The company said the proposed transactions are part of its business restructuring plan. After the disposal process is completed, it will focus on the core businesses of printing media, activity and event organization, content production, NBC group’s television media business (Nation 22 news channel on digital TV) and the businesses of NINE Group.

Proceeds will largely be used to repay debts, reduce interest payments and as revolving capital, with a small portion to be used to cover operating expenses, NMG added.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.