02 March 2004
Singapore Press Holdings Ltd (the "Company") wishes to announce that it has incorporated a wholly-owned management consultancy company in Shanghai, PRC named New Beginnings Management Consulting (Shanghai) Company Limited ("New Beginnings").
New Beginnings’ registered capital is US$140,000 fully funded by internal resources. The incorporation of New Beginnings has no material impact on the earnings per share or net tangible assets per share of the Company for the financial year ending 31 August 2004.
None of the directors of the Company has any interest, direct or indirect in New Beginnings. The Company has no substantial shareholder as at the date of this announcement.