Malaysiakini | May 19, 11
Independent Chinese news portal Merdeka Review is facing closure at the end of this month as their funders, who have hitherto remained anonymous, have suddenly decided to pull out.
In a statement today, the news portal appealed for public donations and investors to meet its RM60,000 monthly expenditure.
“You decide whether we can stay on by donating to us now!” read the urgent statement.
The company said that although advertisement revenue had been rising over the past year, it is still insufficient to sustain the company.
“With the funders’ recent decision, we have no choice but to appeal to our readers and friends who love to see a better Malaysia by donating to Merdeka Review,” said the company.
Victim of highly competitive environment
Merdeka Review is the latest Malaysian online news organisation to become a casualty of an increasingly competitive industry, often offering unfavourable returns.
In July last year, another prominent news portal The Nut Graph had to cease daily operations and turn into a weekly, publishing only on Mondays.
Established in August 2008 by veteran journalist Jacqueline Ann Surin, The Nut Graph exhausted its seed funding in March 2010.
Merdeka Review was founded n August 2005 by former New Era College lecturer Chang Teck Peng. The portal later expanded by featuring a Malay supplement.
Other than donating and investing in the company, Merdeka Review would also like to hear from its readers on whether they support its efforts to stay afloat.
Those who wish to donate to the company can do so at the following bank accounts under the Merdeka Review Sdn Bhd name.
Hong Leong: 04001025891
EON Bank: 0595110002973
Maybank: 514440123099
Consult Big Dog lah how 2 secure funds n how 2 survive comfortably/luxuriously