Sing Tao News Corporation Limited

Formerly known as	Until
Global China Group Holdings Limited	4-Feb-05
Global China Technology Group Limited	27-Aug-02
Perfect Treasure Holdings Limited	24-Jul-00

STuffed!
In Jan-02, we criticised South China Holdings for its unlisted dividends in specie, and warned that the logical extreme was to distribute the bulk of the assets as an unlisted company. The rules remain unchanged, and Sing Tao Holdings has now done exactly that, distributing the bulk of its assets in an unlisted company for which parent Global China made a take-it-or-leave it offer. Some choice. (25-Sep-02)

Perfect Treasure buys Wharf's Sichuan Cable TV
Local camera distributor Perfect Treasure has just bought 70% of Artland International, which has a 50% stake in a cable TV business in Sichuan province. What they didn't mention was that Artland was once 70% owned by Wharf, controlling shareholder of recently floated i-Cable Communications. (25-Jan-00, revised 26-Jan-00)

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