Ong revitalises Asia-Inc; reveals bid to build 'niche communications market'

Just over six months after being purchased by Brunei businessman Timothy Ong, Asia-Inc has unveiled a new look and design. The redesign and the new ownership is perceived by media analysts as the beginning of an era of stability and growth for the magazine, which had been struggling to stay afloat for most of its eight-year history. "Asia-Inc, the brand, stands for editorial quality," Mr Ong told MEDIA. "We are leveraging on Asia-Inc, the brand, to build a niche communications market." The magazine aimed to provide integrated business intelligence and business facilitation services and products and this would soon be followed by a business facilitation portal, new business guides and forums, he said. The regional monthly magazine is nearing the end of its half year-long regrouping and consolidation phase and its next priority task is to build on its circulation, currently standing at about 60,000 but off from its high of 76,000. Most of Asia-Inc's circulation is controlled; however, CEO Tham Kok Wing stressed that all its readers are senior business executives. The magazine's biggest markets are Hong Kong, Singapore and Kuala Lumpur, but Mr Tham said plans are in the pipeline to extend the circulation footprint. "We want to establish a stronger presence in the core markets and then broaden to other markets," he said. He indicated that Manila, Jakarta and Bangkok have strong potential but he said the group was also identifying sizeable Asian populations outside the region such as Sydney, Melbourne, Auckland, London and key US cities. Mr Ong said that Asia-Inc would build up its readership base through marketing partnerships rather than go the costly route and set up its own independent regionwide network. Partners being identified include media companies and media reps, and large organisations offering brand loyalty programmes to their members or customers. Mr Ong said Asia-Inc had a strong future because its editorial was "second to none". "We focus on the future of business in Asia. We are always asking the question, 'Who are the men and women of tomorrow?'," he said. "Every one of these stories talk about Asia and the future of Asia. Therefore, we have to work harder on getting the insider's perspective."

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