, Singapore

SPH units apply for judicial management

StreetSine Technology Group and StreetSine Singapore also applied for the appointment of interim judicial managers.

Singapore Press Holdings’ (SPH) subsidiaries, StreetSine Technology Group (SSTG) and StreetSine Singapore (SSPL), have each filed applications to be placed under judicial management, according to an SGX filing.

The subsidiaries also applied for interim judicial managers to be appointed pending the determination of the applications.

A pre-trial conference has been fixed for the judicial management applications on 4 June, whilst the hearing date for the interim judicial managers applications has yet to be fixed.

SPH Interactive holds 60% of SSTG’s shares, whilst the remaining shares are held by Samuel Cranage Baker and Jeremy Lee Chuen Yang, who each hold 20%.

On 7 April, the board announced the legal proceedings commenced by Messrs Baker and Lee against SPH Interactive and SPH in relation to SSTG.

However, based on the financial statements of the SPH Group for the financial year ending 31 August 2019, the combined net tangible liabilities and combined revenue and pre-tax losses of SSTG and SSPL are less than 1% compared to the SPH Group’s consolidated revenue and pre-tax profits.

The subsidiaries are said to be not significant subsidiaries of SPH, and the applications will not have a material impact on SPH’s operations for the current financial year ending 31 August 2020.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Singapore Business Review in your inbox
Chua spent 18 years with UBS Wealth Management prior to his new role.
Private-sector economists polled by the Monetary Authority of Singapore expect higher growth, faster inflation in 2021. Economists and analysts from the private sector expect the Singapore economy to grow by 6.8% for the full year of 2021, according to the latest Monetary Authority of Singapore (MAS) survey of professional forecasters. The forecast for the June survey is higher than the 5.8% forecast from the March survey. The twenty-seven respondents expect manufacturing to grow by 8.3%, finance & insurance by 6.0%, construction by 19.3%, wholesale & retail trade by 4.4% and accommodation & food services by 6.5%. Private consumption is expected to grow by 5.2%, lower than the 7.9% forecast from the past survey. Non-oil domestic exports is expected to grow by 7.5% for the full year of 2021. CPI-all items inflation and MAS Core inflation are expected to come in at 1.4% and 0.8% respectively for the full year of 2021. For the second quarter, the economists expect CPI inflation to come in at 1.9% and core inflation to come in at 0.7%.  
The leading F&B establishment operator expands its retail line of condiments and flavourings.
This deepens SGX’s partnership with Nikkei Inc.
These three stocks saw significant growth in trading turnover year-to-date.
The project with a 280-bed capacity is expected to operate by 2022.
Singapore Airport Terminal Services saw the sharpest decline during Monday's trading, with a 1.21% drop.
And the G-7 states demand a probe on the origins of the COVID-19 pandemic.
Approximately 35% of MSEs in the F&B and retail sectors saw their earnings drop by more than half during the Phase 2 Heightened Alert period, according to a DBS survey.
Enterprise Singapore extends the programme that supports food and beverage businesses in providing food delivery services.
The Baht 40b debentures were 1.52 times oversubscribed.
The fund was announced at the inaugural CapitaLand Sustainability X Challenge.
Mapletree Logistics Trust saw the sharpest decline during Friday's trading, with a 0.99% drop.
This may be one of the last times the troubled water treatment firm could meet with securities holders before shutting down.
The company has been listed in the Catalist board of SGX since 2017.