Zahid: Utusan's downfall caused by Harapan's cruelty
- 5 years ago
Umno president Ahmad Zahid Hamidi has blamed Pakatan Harapan for the closure of Utusan Malaysia.
Zahid said Harapan's move to freeze Umno's back accounts made it difficult to channel funds to Utusan.
Utusan’s collapse comes less than two months after it raised prices for its printed newspapers in a bid to cover operational costs.
At the time, its former owner Umno injected RM1.6 million to help pay overdue salaries following a staff picket.
The company was later delisted from Bursa Malaysia for failing to settle its loans.
Zahid said Harapan's move to freeze Umno's back accounts made it difficult to channel funds to Utusan.
Utusan’s collapse comes less than two months after it raised prices for its printed newspapers in a bid to cover operational costs.
At the time, its former owner Umno injected RM1.6 million to help pay overdue salaries following a staff picket.
The company was later delisted from Bursa Malaysia for failing to settle its loans.