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SPH acquires majority stake in Beerfest Asia Pte Ltd

Singapore, 2 June 2015 – Singapore Press Holdings (SPH) today announced that its wholly-owned events subsidiary Sphere Exhibits will take up an additional 40 per cent shareholding stake in Beerfest Asia Pte Ltd, the  company that organises the annual Beerfest Asia event. 

With this latest investment, Sphere Exhibits will have an 80 per cent stake in the company. The remaining 20 per cent stake will be held by Edward Chia (13 per cent) and Danny Loong (7 per cent), both of whom are the co-founders and shareholders of Timbre Group.

The Beerfest Asia event was first launched in 2009 by Timbre Group, with Sphere Exhibits coming in as the co-organiser in the following year. Timbre is a Singapore-based music and lifestyle company with businesses ranging from food and beverage, concert and festivals promotion and music education. In 2013, the two parties formed a joint-venture company, Beerfest Asia Pte Ltd, to own the trademark and operate the event. Sphere Exhibits had owned 40 per cent stake in the joint venture company then.  

The 4-day lifestyle event held in June has grown over the years. It showcases more than 400 kinds of craft and commercial beers from around the world. Beerfest Asia also features local and international stand-up comedy and live entertainment from tribute music bands. Last year’s Beerfest Asia attracted more than 32,000 visitors to the Marina Promenade over the four days.

Mr Chua Wee Phong, Chairman of Sphere Exhibits and Executive Vice-President of Circulation, SPH, said: “This latest investment by Sphere Exhibits in Beerfest Asia is in line with our commitment to expand our food and beverage vertical. We have already created a diverse range of proprietary gourmet and lifestyle events such as Asian Masters, Gourmet Japan, Gusto Italiano and Salon Gourmet. Beerfest Asia has been a commercial success in Singapore over the last seven years and offers good growth prospects in the long term. With our majority stake, we are well-positioned to grow Beerfest Asia beyond Singapore and reach out to a wider audience.” 

Mr Edward Chia, Managing Director and Co-Founder of Timbre Group, said: “Both Danny and I are pleased that Sphere Exhibits sees the value of Beerfest Asia. With their investment, we are confident that Beerfest Asia will be elevated to the next level and enhance festival attendees’ overall experience. We remain committed to developing the festival to become the premier beer marketplace in Asia and to play a vital role in the rise of Asia’s beer industry.” 

Issued by Singapore Press Holdings
Co. Regn. No. 198402868E


For more information, please contact:


Ms Chin Soo Fang
Head
Corporate Communications & CSR
Singapore Press Holdings
Tel: 6319 1216

Email: 
soofang@sph.com.sg

Mr Yeo Siew Chi
Manager
Corporate Communications and CSR
Singapore Press Holdings Limited
DID: 6319 1586

Email: 
yeosc@sph.com.sg


About Singapore Press Holdings Ltd

Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.

Media 
The English/Malay/Tamil Media group comprises the print and digital operations of The Straits Times, The Business Times, The New Paper, Berita Harian and My Paper (English section). It also consists of Tamil Murasu Ltd, which publishes Tamil Murasu and tabla!; book publishing arm Straits Times Press; SPH Data Services, which licenses the use of the Straits Times Index, in partnership with the Singapore Exchange and FTSE Ltd; financial data company ShareInvestor; and the two English stations of SPH Radio - Kiss92 and ONE FM 91.3. 

The Chinese Media group publishes three Chinese newspapers - Lianhe Zaobao, Lianhe Wanbao and Shin Min Daily News; the digital editions of Lianhe Zaobao and Lianhe Wanbao, four student weeklies - zbCOMMA, Thumbs Up, Thumbs Up Junior and Thumbs Up Little Junior, ZbBz Newsgazine and My Paper (Chinese section). It also operates SPH Radio's Chinese radio station, UFM 100.3, and Focus Publishing, which produces a range of books and magazines including U-Weekly. 

SPH's other new media initiatives include Asiaone, Stomp, omy.com and SPH Razor. 

SPH Magazines, SPH's wholly-owned subsidiary, publishes and produces more than 100 magazine titles and has various online sites, like hardwarezone.comherworldplus.com and luxuryinsider.com in Singapore and the region, covering a broad range of interests from lifestyle to information technology. It has also invested in digital newsstand Magzter.

SPH also provides out-of-home (OOH) advertising through its digital out-of-home platform SPHMBO.

SPH Buzz is a modern retail convenience chain with a network of stores around the island.

SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8 and U, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today.

Properties
SPH REIT is a Singapore-based REIT established to invest in a portfolio of income-producing real estate primarily for retail purposes. SPH REIT comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road and The Clementi Mall, a mid-market suburban mall in the centre of Clementi town.

The Seletar Mall, located in Sengkang, is SPH's latest retail development. This property is a potential asset to be injected into SPH REIT. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, also developed a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road.


Other Businesses

Online Classified
SPH's online classified include ST701, the leading online marketplace for jobs (STJobs), property (STProperty), cars (STCars) and general classifieds (STClassifieds), sgCarmart and Streetsine.

SPH's regional joint venture online classified business, 701Search, has a number of leading online classified sites in the region.


Events and Exhibitions
Sphere Exhibits, Sphere Conferences, Exhibits Inc and Bizlink Exhibition Services organise innovative consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region. 
 
Education
SPH has a 22 per cent stake in preschool and enrichment provider MindChamps.

For more information, please visit www.sph.com.sg.