Facing financial troubles, Sally Aw sold the controlling stake to a private equity fund of Lazard in 1999.
In February 2020, the wholly owned subsidiary in Australia was liquidated with over 20 long serving staff made unemployed without notice and their entitlements not paid by the company.
Around 1991, the group also owned a travel agency, a medical centre, a recording studio and a pharmaceutical company.
It replaced "Sing Tao Jih Pao Limited" as the parent company of the group, which the latter was incorporated on 29 June 1938.
[9][10] The shareholder structure also making other newspapers that founded by Aw family in other city, did not have any relation with each other as parent company and subsidiary.
[10] Widow of Aw Hoe, Chan Sow Yong, also served as an executive of Sing Tao.
The former was owned by Aw family directly[21][22][23][24] but the latter was a subsidiary of Sing Tao Newspapers Limited in the late 1970s for 55% shares.
[nb 7][36] By 1979, Sing Tao operated their printing and publishing business as Leefung-Asco Printers [zh]),[nb 8] as well as Leefung-Asco's joint venture South China Printing Co., Ltd.[38] Sing Tao also invested 49% stake in a documentary studio Farkas Studios in 1979.
[39] The deal also made Cinclus had a wide shareholders base to apply for listing as a replacement of Sing Tao.
[39] Sing Tao and now independent listed company Impala Pacific [zh] (ex-Cinclus), via an investment vehicle Scilla Limited,[nb 10] made a high-profile purchase on a land lease (Kowloon Inland Lot No.10722) in Canton Road, Tsim Sha Tsui, Kowloon in October 1985.
At the same time, Cereus Australia, the investment vehicle Aw used to privatise Sing Tao in 1985, was delisted on the Australian Securities Exchange in the same year by Kargat Pty Limited.
[2]: 36 The company published the Sing Tao Daily, the oldest surviving Chinese language daily newspaper in Hong Kong, which is also published overseas editions in New York City, San Francisco, Vancouver, Toronto, London, Paris, Sydney and Melbourne.
[54] Toronto Star Newspapers also acquired 75% stake of Canada-incorporated Sing Tao Daily Limited,[54] the publisher of Canada edition.
[56] According to a report by the Center for International Media Assistance, the circulation of Sing Tao Daily and most major Beijing-friendly Chinese newspapers with overseas editions were remain unaudited, and therefore vulnerable to exaggeration:[57]
Jack Jia, founder of the Toronto-based semiweekly Chinese News, known for its strong reporting on topics affecting the local Chinese community, contends that the circulation numbers of more Beijing-friendly Chinese-language papers are inflated, giving them an unfair advantage when obtaining revenue through advertising.
Chief executive of Hong Kong, Tung Chee-hwa, in the "Report on the key issues during the second year of the Hong Kong Special Administrative Region of the People's Republic of China" made a defence for decision of the Secretary for Justice Elsie Leung.
[72] In January 2001, Global China Technology Group, majority owned by Charles Ho, acquired approximately 51.36% shares of Sing Tao Holdings from Astral Light Investments Limited, a subsidiary of Lazard Asia Fund A, L.P., for HK355.6 million (HK$1.65 per share).
[73][66] In January 2002 South China Printing, Noble World Printing, Roman Financial Press, Valiant Packaging Holdings and their subsidiaries were sold from Sing Tao Holdings to Asia Printers Group for HK$428 million; Asia Printers Group was owned by CVC Capital Partners and Citigroup.
Global China Technology Group offered to the public shareholders of Sing Tao Media Holdings after the transaction, to buy the shares of Sing Tao Media Holdings by offering the shares of Global China Technology Group, in a ratio of 1 to 1.75.