Incorporation Of Associated Company
BackOct 09, 2008Singapore Press Holdings Ltd ("SPH") wishes to announce that an associated company, OpenNet Pte Ltd ("OpenNet"), has been incorporated in Singapore with an initial issued and paid-up capital of S$1,000.00, comprising 1,000 ordinary shares of S$1 each ("Shares").
SPH Net Pte Ltd, an indirect wholly-owned subsidiary of SPH, holds 251 Shares in OpenNet, representing approximately 25% of the issued share capital of OpenNet. The remaining issued Shares in the capital of OpenNet are held by Axia NetMedia Corporation (299 Shares), Singapore Telecommunications Limited (299 Shares) and SP Telecommunications Pte Ltd (151 Shares).
The principal activities of OpenNet are to design, build and operate the passive infrastructure for Singapore's Next Generation National Broadband Network.
Mr Alan Chan Heng Loon, CEO and Director of SPH, is a Director of OpenNet Pte Ltd. Mr Chan is also a Director of Singapore Power Limited, the holding company of SP Telecommunications Pte Ltd. Except as disclosed herein, none of the Directors of SPH has any interest, direct or indirect, in the matter.
Dated: 9 October 2008