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SPH transfers stake in dormant company - Nov 26, 2004 (BT)

BackNov 26, 2004

The Straits Times / The Business Times News On SPH

SPH transfers stake in dormant company




Nov 26, 2004
The Business Times

SINGAPORE Press Holdings Ltd (SPH) said yesterday Media Investments Pte Ltd has effectively transferred its entire holding in MI Women Magazines Pte Ltd, a dormant company, to ILC International Legal Consultants (Singapore) Pte Ltd for the consideration of $2,000 on a 'willing buyer willing seller' basis.

Media Investments is a wholly owned subsidiary of Magazines Incorporated Pte Ltd whose entire share capital is held by SPH's wholly owned subsidiary, The Straits Times Press (1975) Limited, through SPH Magazines Pte Ltd.

SPH said the transaction has no material impact on the earnings and the net tangible assets per share of SPH in the financial year ending Aug 31, 2005.