Ready to dive into a story etched in Malaysia’s media history right here at Balai Berita Bangsar? This building isn’t just bricks and mortar. It’s a landmark steeped in the narrative of the nation’s news.
Balai Berita Bangsar has been a cornerstone of the Malaysian news landscape since 1973. The New Straits Times Press made this its base and has been shaping public opinion here for decades. Its prime location is a stone’s throw from the city center. It connects to many areas in the Klang Valley.
Now let’s talk about an unexpected twist. Media Prima repurchased Balai Berita in an interesting move. In 2021, they bought it back from PNB Development Sdn Bhd for RM156.4 million. This happened only three years after they sold the Bangsar property to PNB for RM118.7 million. They then entered a leaseback agreement to continue occupying the premises.
Why the repurchase? Well it came at a steep price of RM37.7 million more. Analysts were divided with Media Prima’s initial reason for selling the property in 2018. The reason was due to financial constraints. Some were stumped that the company would pay an additional 31% in such a short time.
Media Prima argued the purchase would provide long-term security for the group’s operations. Balai Berita houses the company’s headquarters. It also houses the offices of its subsidiaries. The group intends to invest in new studios. These studios will cater to growing content production requirements. They will also consolidate Media Prima’s news gathering operations.
Under the leaseback arrangement, Media Prima paid rental of RM720000 per month. Acquiring the property mitigates the risk of potential rental increases. It also prevents the loss of the property.
Hong Leong Investment Bank noted the acquisition of UOA Corporate Tower in 2020. It was done at RM729.30 per square foot. But UOA Corporate Tower is a grade A MSC building in Bangsar South. Media Prima is paying a high premium to repurchase Balai Berita. The implied land cost is RM1000 per square foot.
CGS-CIMB Research has a more cautious view of the repurchase. The amount of savings from rental commitment is uncertain. They believe it can be ploughed back to boost future profits.
Media Prima has a long history. It began as Profitune Sdn Bhd in 2000. It focused on multimedia and communications services. By 2002, it shifted to media and entertainment and became Media Prima.
Today Media Prima operates four television channels. These are TV3, NTV7, 8TV, and TV9. It also owns five radio stations. These are Kool 101, Fly FM, Eight FM, Hot FM, and Molek FM. The New Straits Times Press Malaysia’s largest newspaper publisher.
In October 2024, Media Prima moved its news operations back to Balai Berita. All television networks now broadcast from here. This marks a return to its roots after more than two decades. The AI enhanced Azan was launched in January 2025. It was aired for the first time during the Zohor prayers.
So as you stand here at Balai Berita Bangsar remember its history. It has evolved with Malaysia’s media landscape. It remains a vital hub for news and broadcasting.