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MTM Multimedia to have new owner

06 August 2011

Proto Corporation of Japan will acquire MTM Multimedia Sdn Bhd from its existing owners, with the transaction to be fully completed by September 2011. Proto Corporation, which is listed on the Osaka Securities Exchange, is acquiring 100% of the company for a sum of RM109.67 million.

Proto Corporation is a well-established publisher with a popular car portal site (Goo-net) which has the largest number of registered cars in Japan. It also offers a variety of information services that benefit the consumers and used car dealers.

Proto strives to achieve further growth in the automobile industry which is their core business by moving into the ASEAN market. They regard Malaysia, Thailand and Indonesia as having great potential for their business in view of the rapid increase in vehicle numbers every year.

MTM Multimedia Sdn Bhd, automotive publisher of the flagship magazine Motor Trader, Bike Trader and Autocar ASEAN, has attracted them as it is a well-established company with very popular publications, most notably the only weekly classified magazine (Motor Trader) that brings buyers and sellers together. It also has a well-established website (www.motortrader.com.my) which is among the top auto websites in Malaysia.

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