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SPH in 'ongoing discussions' with various parties to potentially acquire overseas property assets

SINGAPORE Press Holdings (SPH) is in continuing discussions with various parties to potentially acquire cash-yielding, real estate assets overseas, the media group said on Thursday, referring to media speculation.

In a filing to the Singapore Exchange, it went on to highlight that the negotiations may or may not materialise in any transaction or any definitive agreement.

SPH added: "If and when there are any material developments which warrant disclosure, the company will, in compliance with applicable rules, make further announcements as appropriate." It said it would not be commenting further in the meantime.

SPH - which owns newspapers such as The Business Times - recently reported a 64.3 per cent year-on-year rise in third-quarter net profit to S$47.44 million on the back of lower impairment charges, while operating revenue declined 3.8 per cent to S$250.07 million.

SPH shares closed at S$2.89 on Thursday, up one cent.

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