SINGAPORE (June 29): With data centres an increasingly lucrative proposition for businesses with the rapid digitalisation of the global economy, Singapore Press Holdings (SPH) is looking to get a slice of the data centre business in a joint venture with Keppel Data Centres Holdings (KDCH) as it continues on its quest to replace lost earnings from its flagging print business.

The publishing company today announced that Times Properties, its wholly-owned subsidiary with TPM Pte Ltd, has entered into a shareholders’ agreement with KDCH, and its wholly-owned subsidiaries, Keppel Griffin and Geras DC, to incorporate a joint venture company (JVCo) to acquire the whole of  Lot 6205N of Mukim 24 at 82 Genting Lane.

The JVCo, named Memphis 1 Private Limited, has an issued and paid up share capital of $100. KDCH owns a 60% stake in the new venture while Times Properties is the junior partner with 40%. Following its incorporation, Memphis 1 will be an associated company of SPH.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook