The daily launched on May 22 2007, was popular in the corporate sector and is said to have been hard hit by the COVID-19 pandemic, even though the digital move is seen as the best mechanism to continue surviving in the country’s media industry.
Its publisher and group chief executive officer Datuk Ho Kay Tat and editor-in-chief, Azam Aris in a note to readers entitled “FD says goodbye after 13 years’ said the daily would continue to persevere despite being affected by the global economic crisis and the suspension of its operation in 2015.
“Sadly, FD is unable to survive the double onslaught of the shift to digital news and the current lockdown of the economy because of the COVID-19 pandemic.
“This will, therefore, be the last issue of FD. But it will not be the last stories our journalists will write for you,” according to them.
Besides that, its weekly The Edge will continue to operate as usual while its website, www.theedgemarkets.com will also continue to provide the latest information on the current economic situation.
“So check in every morning and throughout the day to get the latest news from us,” said Ho and Azam.
The Malaysian Press Institute (MPI) chief executive officer Datuk Dr Chamil Wariya said the decision to stop the print edition is another sad episode in the history Malaysian journalism.
“…but I think the lockdown (COVID-19) sort of hit them (The Edge Media Group) very badly. People will no longer buy the paper, because they have to stay at home.
“But the good thing is that, although they are closing the physical hard copy, but they are migrating seriously to online news reporting. I think the future of news media would be mainly online, which is a good move in a way,” he said when contacted by Bernama.
At the same time, he also commended the newspaper for serving the economic community for long long even though the daily print edition was only available in the Klang Valley.
“I just wish them a successful journey onward, and hopefully the business community will continue support The Edge,” he said.
Meanwhile, a survey on social media found the news received various reactions from netizens who were sad and disappointed.
One reader, identified as Beeja wrote : Thank you The Edge for your immense service and contribution to all of us particularly to the finance industry personnel. You were the go-to publication every morning before start of the workday. What will we do without you?
“You deserve the highest commendation for the quality of reporting and the unbiased and brave stance taken often in the face of grave adversities as we have all witnessed. We salute you and pray you will someday comeback to serve us and the country for the sorely needed independent and brave media,” the fan commented.
TK Low wrote : “Nothing beats reading with feel…hard copies give interaction to a read..,”.
While a Facebook user, Jasper Tan wrote : “Sad to see this happened to The Edge. Hope they will have a better future on digital media,” he said.