Company Briefs: Singapore Press Holdings

Singapore Press Holdings

Media and property group Singapore Press Holdings incorporated a joint-venture company with Mediacorp yesterday.

Each company will hold a half-stake in Singapore Media Exchange, which will be involved in the programmatic sale of digital advertising.

The new firm has an issued capital of $1.2 million.

GP Batteries International

The public free float of GP Batteries International has fallen below the level required under listing rules, the battery maker said.

The Singapore Exchange will suspend the trading of GP Batteries shares on Nov 17, it added, as the proportion held by the public is lower than 10 per cent.

Parent GP Industries had previously announced a voluntary conditional cash offer at $1.30 a share, in a bid to privatise and delist the company.

China Jishan Holdings

A legal claim has been filed in China against textile dyer China Jishan Holdings, the company told the Singapore Exchange yesterday.

Shanghai Jintumu Real Estate entered into a conditional share transfer agreement to buy a real estate subsidiary of China Jishan for 785.8 million yuan (S$161.8 million) last year.

But the buyer is now seeking the continued performance of the original agreement and the withdrawal of a supplemental agreement.

Shanghai Jintumu also wants roughly 486,000 yuan for costs incurred and has obtained a court order to freeze certain assets.

China Jishan said it is seeking legal advice, adding that it "will vigorously defend the legal claim and seek to unfreeze the assets".

A version of this article appeared in the print edition of The Straits Times on November 02, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe