SPH said all media-related assets will be transferred into a new wholly-owned subsidiary named SPH Media Holdings, with an initial funding that includes a cash injection of 80 million Singapore dollars and 30 million Singapore dollars worth of SPH shares.
The new subsidiary will eventually be transferred to a not-for-profit entity for "a nominal sum," said the company. Trading of SPH shares were halted on the Singapore Exchange on Thursday, pending the announcement. As of Wednesday's close, the company's shares have risen roughly 58% this year.
Please help Colombia show what’s truly happening! Cops and military are being abused! Yet only one side of the story is being told. We need as much visibility as possible. We need the world to know the truth: