SINGAPORE - Singapore Press Holdings (SPH) has struck up a licensing partnership with US-based global business news source Business Insider (BI) to operate the latter's Singapore and Malaysia editions.

Both sites were launched recently and will complement SPH's stable of digital publications with a millennial-focused product for young working professionals, both companies said in a joint statement on Monday (July 17).

BI Singapore and Malaysia will offer local news, business and lifestyle stories, as well as content from BI's newsrooms around the globe, including Australia, Germany, Britain and its headquarters in New York.

BI is credited with pioneering a new type of business news tailored to how young professionals and entrepreneurs now consume content.

Mr Warren Fernandez, editor-in-chief of SPH's English, Malay and Tamil Media group, said: "We're always looking for new ways to grow our readership and serve new groups of readers. Business Insider has a strong following among a young and mobile readership with an interest in business and lifestyle stories delivered in its unique way.

"By combining this with our deep local knowledge we have in our newsrooms, we believe we will have something special to offer that readers will enjoy."

Mr Roddy Salazar, BI's Vice-President International, said BI was "thrilled" to be partnering with SPH.

He added: "SPH has a deep understanding of business media and the digital space, so it's the ideal partner to serve local readers with BI's unique style of business news: social and mobile at its core and laser-focused on the news that emerging business leaders want and need to know."

BI in Singapore and Malaysia was previously operated by Malaysian media company Rev Asia Berhad.