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SPH to spin off Paragon and The Clementi Mall in billion-dollar retail Reit

Published on May 27, 2013 7:03 PM
 
Paragon Shopping Centre and Clementi Mall. Media Group Singapore Press Holdings will be spinning off a real estate investment trust (reit) of its retail malls, it announced on Monday, May 27, 2013. -- ST FILE PHOTOS: TED CHEN/CHEW SENG KIM

MEDIA group Singapore Press Holdings will be spinning off a real estate investment trust (reit) of its retail malls, it announced Monday evening.

It has received a listing eligibility from the Singapore Exchange.

Chief executive Alan Chan said: "We plan to inject Paragon and The Clementi Mall into SPH Reit."

SPH is expected to hold about 70 per cent of the units in the Reit, and plans to declare a special dividend of 18 cents.

 
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