Renowned business magnate Tan Sri Vincent Tan Chee Yioun has embarked on a new television endeavor, marking his return to the industry after his previous venture, MiTV Corp Sdn Bhd, incurred substantial losses amounting to RM250 million.
This fresh foray sees Tan partnering his privately-owned U Telemedia Sdn Bhd’s subsidiary, Ansat Broadcast Sdn Bhd, with Indonesian multinational conglomerate PT MNC Digital Entertainment Tbk. Together, they introduce “OK Vision,” a subscription-based television and content distributor brand.
The soft launch of this new venture took place on Monday, graced by the presence of Communications Minister Fahmi Fadzil and Malaysian Communications and Multimedia Commission chairman Tan Sri Mohamad Salim Fateh.
Reflecting on his prior attempt in the industry, Tan candidly admitted MiTV’s shortcomings, stating, “Many years ago, I tried to do this business under a company called MiTV… Unfortunately, it failed miserably. I lost RM250 million, and I thought I would never be in this business [again], until I met Pak Hary [MNC executive chairman Hary Tanoesoedibjo].”
While Tan refrained from disclosing the investment figure for this new venture, Hary expressed enthusiasm for the collaboration, noting the dedication to redefine entertainment experiences. He highlighted PT MNC’s commitment to delivering cutting-edge content solutions that cater to the diverse interests of audiences in Malaysia and Indonesia.
This partnership marks PT MNC’s second venture with a Malaysian entity, following an earlier collaboration with Digistar Corp Bhd earlier this year, aimed at providing digital content for local hospitality and residential markets.