HPL needs to articulate how it will use the SPH platform to bolster its performance

TYCOON Ong Beng Seng, popularly known by his initials OBS, is credited as being one of those responsible for first bringing the Formula 1 night race to Singapore. He also led a consortium, 98 Holdings, which involved entities of Temasek Holdings, that won control of steel marker NatSteel, following a battle with business tycoon Oei Hong Leong between 2002 and 2003.

OBS is adding a new feather to his cap.  Cuscaden Peak won the takeover battle with Keppel Corporation for Singapore Press Holdings (SPH).  SPH’s shareholders voted in favour of Cuscaden’s takeover offer at a scheme meeting on Mar 22, 2022, and SPH is set to be delisted on May 13, 2022. 

Cuscaden is 40 per cent held by Tiga Stars, which is in turn 70 per cent owned by (HPL) and 30 per cent owned by OBS’ Como Holdings.  Stakes of 30 per cent each of Cuscaden are held by entities of Temasek unit CLA Real Estate Holdings, and Temasek-owned Mapletree Investments.  CLA owns privately-held CapitaLand and is the biggest shareholder of CapitaLand Investment .