Sing Tao News Corporation

Sing Tao News Corporation Limited (Sing Tao) is a Hong Kong media company, incorporated in Bermuda.[1] It was formerly called Global China Group Holdings Limited.[2]

Not to be confused with Sing Tao Holdings.
Sing Tao News Corporation Limited
Formerly
  • Perfect Treasure Holdings
  • Global China Technology
  • Global China Group Holdings
TypePublic
SEHK: 1105
IndustryMedia
Founded1996[1]
HeadquartersHong Kong
Key people
  • Kwok Ying-shing (Chairman)
Products
Websitewww.singtaonewscorp.com
Sing Tao News Corporation
Traditional Chinese星島新聞集團有限公司
Simplified Chinese星岛新闻集团有限公司
Global China Group Holdings Limited
Traditional Chinese泛華集團控股有限公司
Simplified Chinese泛华集团控股有限公司

History

The Group, which is listed on the Stock Exchange of Hong Kong, was founded in 1996, under the name Perfect Treasure Holdings Limited and would go on to acquire and take on the name of the much older Sing Tao newspaper.

Perfect Treasure was acquired by Charles Ho[3] and renamed to Global China Technology Group Limited in mid-2000. The following January, Global China Technology Group acquired a 51.36% majority holding in Sing Tao Holdings from private equity fund Lazard Asia[4][5] and Ho became executive chairman of both Global China Technology Group and Sing Tao Holdings. In 2002, Sing Tao Holdings was fully acquired by GCT.[5]

The company was then renamed again, from Global China Technology Group to Global China Group Holdings Limited, on 4 October 2002.[1] At this time its business interests included the distribution of Nikon cameras and the provision of broadband services, in China, along with the newly acquired Sing Tao media stable.[5]

Sing Tao News Corporation

Ho had been honorary chairman of Sing Tao Holdings since September 1999, when it was acquired by Lazard Asia after struggling under founder-family member Sally Aw.[6]

In mid-2002 the Sing Tao subsidiary, excluding Sing Tao Media Holdings, which held the Sing Tao newspaper, and Colony Hotel, was sold on to Ming Yuan Investment Group, a private company owned by Yao Yuan.[7][5]

Sing Tao Holdings became known as Shanghai Mingyuan Holdings, from October 2002. Sing Tao Media Holdings was an intermediate company for newspaper and magazine business of the former Sing Tao Holdings group. In early 2002, Sing Tao Media acquired the Hong Kong magazines 'Teens' and 'East Touch', as founding titles in the magazine publishing division of the group.[5][8]

The predecessors of Sing Tao Holdings as the parent company of Sing Tao group, was Sing Tao Limited (aka: Sing Tao Newspapers Limited and Sin Poh Amalgamated (H.K.) Limited). As of 2018, Sing Tao Limited still operated as a company and a subsidiary of Sing Tao News Corporation.

In 2003, Colony Hotel, which the company partially owned, was sold[9] to the University of Toronto.

On 22 February 2005, Global China Group Holdings was renamed to Sing Tao News Corporation. In the same year Sing Tao sold the headquarters of its newspaper division in Kowloon Bay, Kowloon.[10] The headquarters was later relocated to A Kung Ngam in Hong Kong Island. In 2017, the headquarters was relocated to Tseung Kwan O.

Charles Ho relinquishes control

In February 2021, Ho sold a 28 percent stake in Sing Tao News Corporation to Kwok Hiu-ting (Guo Xiaoting), vice chairwoman of mainland property management firm Kaisa Prosperity, for HK$370 million. Kwok, born 1994, who is the daughter of Kwok Ying-shing (郭英成), chairman of the mainland property firm, Kaisa Group, instantly became the majority shareholder, up from zero. Ho retained just three percent of the company.[11][12][13]

Publications

See also

References
  1. Filings in Hong Kong Companies Registry
  2. "Trading arrangement and exchange of share certificates" (PDF) (Press release). Sing Tao News Corporation. 2 March 2005. Retrieved 8 July 2018.
  3. 何柱國購柏寶交易續進行. Sing Tao Daily (in Chinese (Hong Kong)). 19 June 2000. Retrieved 8 July 2018.
  4. "Announcement & Resumption of Trading" (Microsoft Word) (Press release). Global China Technology Group. 9 January 2001. Retrieved 30 September 2017 – via Hong Kong Stock Exchange.
  5. "Circular (Voluntary Conditional Securities Exchange Offer by Global China Corporate Finance Limited on behalf of Global China Multimedia Limited to acquire all the Issued Shares in Sing Tao Media Holdings Limited)" (PDF). Global China Technology Group. 2 September 2002. Retrieved 30 September 2017 – via Hong Kong Stock Exchange.
  6. "Profile of management" (PDF). 2000–01 Annual Report. Sing Tao Holdings. 9 August 2001. p. 24. Retrieved 8 July 2018.
  7. "Circular (Disclosable Transaction, Disposal of 74.5% Interests in Sing Tao Holdings Limited)" (PDF). Global China Technology Group. 2 August 2002. Retrieved 30 September 2017 – via Hong Kong Stock Exchange.
  8. Sing Tao Holdings Ltd Annual Report 2002, Profile of the Group
  9. http://www.hkexnews.hk/listedco/listconews/SEHK/2003/0929/01105/F101.pdf
  10. "Sing Tao buoyed by $370m sale". South China Morning Post. Hong Kong. 14 July 2005. Retrieved 2 October 2017.
  11. Sing Tao's Charles Ho sells majority stake, RTHK, 2 Feb 2021
  12. Kwok Hiu-ting, 26-year-old daughter of Kaisa’s magnate, buys Hong Kong’s Chinese newspaper Sing Tao for US$47.7 million, SCMP, 2 February 2021
  13. "Chinese Tycoon's Daughter Buys Hong Kong Newspaper Control". Archived from the original on 2021-12-02.
  14. "2016 Annual Report" (PDF). Sing Tao News Corporation. 2017. Retrieved 3 October 2017.
Wikimedia Commons has media related to Sing Tao News Corporation.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.