KUALA LUMPUR (April 30): Malaysian publishing company Blu Inc Media announced is ending both its print and digital publications today, effective immediately.
In a statement to employees sighted by EdgeProp.my, its CEO Datin Azliza Tajuddin said: "Our business has already been under tremendous challenge from digital disruption over the past few years.
"With the current Movement Control Order (MCO) to contain Covid-19, the losses continued even more for the months of March and April and this trend is expected to continue for the next few months.
"It is uncertain that we will be able to see any light at the end of the tunnel.
"As such it is with a heavy heart that the Board of Directors decided to cease the operations of Blu Inc Media Sdn Bhd with effect from 30 April 2020 which will include cessation of all its print and digital publications."
Azliza has appointed Jolston Ng and Faizal Hadi as GM, together with Shireen Goh, Bowen Tee and Connie Lee of the accounts department, as well as Habibah Muhammad of the human resource department to assist with the closure.
The almost half a century old Blu Inc Media publishes CLEO, Cosmopolitan, EH!, Female, Glam, Glam Deko, Glam Lelaki, Harper's Bazaar, Her Inspirasi, Her World, Her World Cookbook, Home & Décor, Icon, Jelita, Malaysian Women's Weekly, Marie Claire, Nuyou, Shape and The Peak.
The company was set up as a joint venture with SPH Magazines in Singapore.
EdgeProp Malaysia will be hosting a virtual Fireside Chat titled "The Malaysian property market picked up in 2019! Could this be its last hurrah?" through Facebook Live on May 1 at 2pm.
Join us for more insights from Rehda president Datuk Soam Heng Choon, Rehda vice-president and Selangor branch chairman Zulkifly Garib and Rehda Johor branch chairman Datuk Steve Chong Yoon on the market outlook post-MCO!
Stay calm. Stay at home. Keep updated on the latest news at www.EdgeProp.my. #stayathome #flattenthecurve