Sing Tao News Corporation
| Company type | Public |
|---|---|
| Industry | Media |
| Founded | 1996 |
| Headquarters | Hong Kong , Bermuda (registered) |
Area served | Hong Kong, China |
Key people | Charles Ho (former executive chairman) |
| Products | Newspapers, Magazines |
Sing Tao News Corporation Limited (Sing Tao) is a media enterprise based in Hong Kong, registered in Bermuda. It was previously identified as Global China Group Holdings Limited.
History
The Group, initially established in 1996 under the name Perfect Treasure Holdings Limited, is listed on the Stock Exchange of Hong Kong. It later acquired the well-established Sing Tao newspaper.
In 2000, Charles Ho took over Perfect Treasure, renaming it Global China Technology Group Limited. By January 2001, the company obtained a controlling interest of 51.36% in Sing Tao Holdings from the private equity firm Lazard Asia, with Ho appointed as executive chairman for both organizations. The full acquisition of Sing Tao Holdings by Global China Technology Group was completed by 2002.
On 4 October 2002, the company adopted the name Global China Group Holdings Limited. At that time, its operations included distributing Nikon cameras and offering broadband services within China, alongside its growing Sing Tao media holdings.
Sing Tao News Corporation
Following its acquisition by Lazard Asia after difficulties faced under founder-family member Sally Aw, Ho assumed the role of honorary chairman of Sing Tao Holdings in September 1999.
In mid-2002, assets held by Sing Tao’s subsidiaries—except for Sing Tao Media Holdings (which managed the Sing Tao newspaper) and the Colony Hotel—were divested to Ming Yuan Investment Group, controlled by Yao Yuan.
The entity formerly known as Sing Tao Holdings was renamed Shanghai Mingyuan Holdings in October 2002. Meanwhile, Sing Tao Media Holdings served as the intermediary company overseeing the group’s newspaper and magazine operations. Early in 2002, it broadened its publishing portfolio by acquiring Hong Kong magazines Teens and East Touch.
The original parent company, Sing Tao Limited (also referred to as Sing Tao Newspapers Limited and Sin Poh Amalgamated (H.K.) Limited), remained a subsidiary of Sing Tao News Corporation as of 2018.
In 2003, the partially owned Colony Hotel was sold to the University of Toronto.
On 22 February 2005, Global China Group Holdings changed its name to Sing Tao News Corporation. That year also saw the sale of its Kowloon Bay newspaper division headquarters for HK$370 million; operations were subsequently relocated first to A Kung Ngam on Hong Kong Island and later moved again in 2017 to Tseung Kwan O.
Charles Ho relinquishes control
In February 2021, Charles Ho divested a 28% shareholding in Sing Tao News Corporation to Kwok Hiu-ting (Guo Xiaoting), vice chairwoman of mainland property management company Kaisa Prosperity, for HK$370 million. Kwok, daughter of Kaisa Group chairman Kwok Ying-shing, became the largest shareholder by increasing her stake from zero to 28%, while Ho retained only a minimal 3% ownership.
Publications
- Newspapers
- Magazines
- East Week
- East Touch
- PC Market
- Jet Magazine
- Caz Buyer
- Ohpama
- Smart Choice Weekly
See also
External links
- Articles with short description
- Sing Tao News Corporation
- Companies listed on the Hong Kong Stock Exchange
- Newspaper companies of Hong Kong
- Magazine publishing companies of Hong Kong
- Holding companies of Hong Kong
- Holding companies of Bermuda
- Offshore companies of Bermuda
- 1996 establishments in Hong Kong
- 1996 establishments in Bermuda
- Companies established in 1996