Business Services Industry
SINGAPORE PRESS HOLDINGS TO RESTRUCTURE PROPERTY BUSINESSES.
AsiaPulse News, January, 2002
SINGAPORE, Jan 14 Asia Pulse - Singapore Press Holdings (SPH) (SGX:SPRM) plans to restructure its property businesses and assets, with the goal of an eventual demerger and the listing of its property businesses on the Singapore Stock Exchange.
SPH's property businesses and assets, held substantially via its wholly-owned subsidiary, Times Properties Pte Ltd (TP), includes the Paragon and the Promenade shopping malls located on Orchard Road and various other industrial and residential properties with an aggregate net book value of approximately S$1.1 billion (US$598.4 million).
The demerger will be take effect via a distribution of all of SPH's shares in TP to SPH's shareholders.
The demerged TP and its subsidiaries, the TP Group, will have an...
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