Last Updated on 2022-05-17 , 4:40 pm
As of end-March, shareholders of Singapore Press Holdings (SPH) voted in favour of a $3.9 billion takeover from Cuscaden Peak, after a fierce bidding battle between the firm and Keppel Corporation.
As of the 13th of May, SPH has officially been delisted to be wholly owned by Cuscaden Peak.
Advertisements
With SPH Media (The Straits Times, Lianhe Zaobao) transferred into a non-profit entity, the takeover will generally concern the property market side of SPH, which notably includes Paragon mall, as well as The Seletar Mall and The Clementi Mall.
Alongside these changes, SPH chief executive officer Ng Yat Chung, who trended for his comments about “taking umbrage” at a reporter’s question on SPH’s editorial integrity, has now stepped down.
Join our Telegram channel for more entertaining and informative articles at https://t.me/goodyfeedsg or download the Goody Feed app here: https://goodyfeed.com/app/
The CEO (Special Projects) of CapitaLand, Gerald Yong, will be taking over.
Mr Ng Yat Chung has been serving as SPH’s CEO since 2017, and will still continue to act as a senior advisor after his step-down.
In an email to SPH, Mr Ng spoke about how he was pleased to hand over his position to Mr Yong. “Gerald has a stellar record and is well qualified to lead SPH Limited in the next lap.” He also expressed his gratitude to the chairman of SPH, Lee Boon Yang, as well as his board of directors for their guidance.
Read Also:
- Serangoon Coffeeshop Fire Allegedly Started from Mala Stall That Was Still Open at 1:30am
- FIFA 2023 Will be the Last Game to Bear the Iconic FIFA Name; Here’s Why
- Man Allegedly Assaulted ‘Coz He Was Slow While Using the ATM at Geylang
- S’pore in Emergency Phase for Dengue As Cases Have Spiked & it’s Not the Dengue Season Yet
Featured Image: Lianhe Zaobao, The Straits Times / Youtube
These five GRCs could see the tightest battle in GE2025; here’s why:
Read Also:
- Trump Exempts Electronics from 125% China Tariffs, Sparing Smartphones and Computers
- Elderly Charity Shop Owner Baffled by Over 50 Boxes of Mystery Donation Blocking Store Entrance
- DNA from Two Men Discovered on Murdered Singaporean Woman’s Clothing as Court Orders Comparison with Main Suspect
- Former Police Officer Convicted in Fatal Maid Abuse Case That Left Victim Weighing Just 24kg
- Teen Arrested in Johor for Selling AI-Generated Fake Nudes of School Peers for RM2 Each
