Thursday, 06 May 2021 12:04 PM MYT
A company limited by guarantee is an entity that does not have share capital or shareholders but, instead, has members who act as guarantors of the company’s liabilities. The restructuring into a company limited by guarantee will allow SPH’s media business to get funding from private and public sources, including getting extra financial support from the Government.
He gave the assurance that the team would be charged with the mission of practising responsible, objective and accurate journalism.Following more questions about maintaining editorial independence, SPH chief executive officer Ng Yat Chung appeared to lose his cool and said he took umbrage at such questions.
This transfer will cover its relevant subsidiaries, employees, its news and print centres, respective leaseholds, as well as related intellectual property and information technology assets. It has approached the Ministry of Communications and Information with a restructuring proposal to put its media business on a long-term sustainable financial footing.