KL bars foreign stakes in local TV

KL bars foreign stakes in local TV

KUALA LUMPUR (DPA): Malaysia will not allow foreigners to hold stakes in the country's television stations, Information Minister Mohamed Rahmat said yesterday.

Mohamed also accused some foreign journalists of being politically motivated in their reporting on Malaysia, which has been suffering from an economic downturn due to the regional financial crisis.

Malaysia has six television stations, including two which are state-run and under the Information Ministry.

Mohamed also renewed the government's attack on the foreign media, saying negative stories about Malaysia were aimed at driving away foreign investors to jeopardize the economy.