Company Briefs : SPH; Meta Platforms; Genting Singapore
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SPH
Following the acquisition by investment vehicle Cuscaden Peak, Singapore Press Holdings (SPH) is delisted from the Singapore Exchange (SGX) today.
In a bourse filing yesterday, Cuscaden announced that the payment of the Cuscaden scheme consideration has been effected. This comprises the cash consideration and, for eligible shareholders, cash and SPH Reit units consideration.
Cuscaden has arranged to facilitate odd lots trades of SPH Reit units from May 12 to June 23, via selected brokers - OCBC Securities, Phillip Securities and UOB Kay Hian.
THE BUSINESS TIMES
Meta Platforms
Meta Platforms Inc is preparing cutbacks in its Reality Labs division, a unit at the centre of its strategy to refocus on hardware products and the "metaverse", a spokesman confirmed. Chief technology officer Andrew Bosworth told Reality Labs staff on Tuesday to expect the changes to be announced within a week, according to a summary of his comments viewed by Reuters. The Meta spokesman confirmed that Mr Bosworth said the division could not afford to do some projects any more and would have to postpone others, without specifying which projects would be affected.
REUTERS
Genting Singapore
Genting Singapore reported a 17 per cent increase in its net profit after taxation to about $40.4 million for the first quarter ended March 31 this year, from $34.5 million in the year-ago period. This came as revenue grew 13 per cent on the year to $314.5 million, from $277.9 million previously, the company, which owns Resorts World Sentosa (RWS), said in a quarterly business update yesterday. It said it is "encouraged" by the gradual increase in footfall to RWS. But it expects the pace of recovery in leisure travel to be moderated by various factors.
THE BUSINESS TIMES
