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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
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
Exxon misses on Q1 profit despite big gains in Guyana
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
Chevron's quarterly profit beats estimates