GYP dumps print directories for real estate

Singapore

GLOBAL Yellow Pages Limited (GYP) is restructuring its business to focus on real estate as its core business and cease publication of print directories from 2018.

In a filing to the Singapore Exchange on Tuesday, it said that its Search business - comprising digital solutions and print directories - has been declining significantly year on year. As a result, the company has decided to cease the print directories from next year onwards as well as to restructure its digital business.

This will lead to retrenchments in the company, but no figures were revealed. In response to queries by The Business Times, chief financial officer Chua Joan Keat said that staff across all departments of the company are affected and that their priority now is to help staff find alternative emplo…