Sing Tao N.Z. branch?

Press, 26 August 1986, Page 24

Sing Tao N.Z. branch?

PA Wellington The Hong Kong publisher and business magnate, Miss Sally Aw Sian, having established a firm base in Australia, has revealed proposals to extend her interests to New Zealand.

Through close links with Mr Bruce Judge’s Impala Pacific Corporation, Ltd, Miss Aw’s Sing Tao, Ltd, has already had high exposure in New Zealand investment

circles — with about 10 per cent of Sing Tao's publicly held shares owned by New Zealand institutions

Miss Aw and associate Mr Stephen Tsung told journalists in Wellington that Sing Tao is looking to establish a company in New Zealand and also print Sing Tao’s international Chinese language newspaper in the country.

Mr Tsung, whose back-

ground includes 26 years fn Australian banking and merchant banking, said it was planned to set up a company where New Zealand investors could buy shares. But it was too early to say when this would happen, or to give further details. Mr Tsung pointed out that since Sing Tao relisted on the Hong Kong Stock Exchange in March, its shares had risen to between SHK2.9O and

SHK3.OO from a SHKI.BO issue price.' Also, from a sAust3.6o placement price for Sing Tao’s holding company Cereus Australia, Ltd, 18 months ago, its share value had risen to about sAust2o (taking into account a recent two-for-one bonus issue) and its market capitalisation had increased from under sAustLs million to sAustBs million.