Bidding adieu to the idea of a core business - for now
Diversifying from the core is accepted, for now at least, as a valuable strategy in battling cyclical or structural challenges
WHEN Singapore Press Holdings put its landmark Times House site up for sale years ago, a senior executive vice-president then said: "We consider property assets as non-core and have said that we will divest them in a manner that would maximise shareholders' value."
That was back in 2003.
Today, the group, which still publishes this newspaper and bills itself "Asia's leading media organisation", has three shopping centres and one condominium under its belt - to say nothing of its nursing home and pre-school investments.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Former PAP MP, minister of state retire as company directors
US: Wall St opens higher
Air China to buy 100 locally made C919 jets in US$11 billion deal
HCA beats first-quarter profit estimates on higher patient admissions
F&B operator YKGI to exclusively operate Chicha San Chen in Macau for next eight years
LMIRT Q1 net property income dips 3.1% to S$30 million on higher expenses