A year later, in 1931, Phoa's company bought another daily, Panorama, which had been founded by the writer and journalist Kwee Tek Hoay.
Setahun kemudian, pada tahun 1931, perusahaan Phoa membeli lagi surat kabar harian, Panorama, yang telah didirikan oleh penulis dan wartawan Kwee Tek Hoay.