Mingly talks for Sing Tao stake collapse

PUBLISHED : Friday, 05 June, 1998, 12:00am
UPDATED : Friday, 05 June, 1998, 12:00am

Any hope of Mingly Corp acquiring all or part of Sally Aw Sian's 50.04 per cent stake in troubled publishing group Sing Tao Holdings disappeared last night after it was announced talks between the two sides had collapsed and would not resume.

Ms Aw and Mingly originally reached a conditional sale agreement on May 16 approving the acquisition, but it was terminated on May 27.

An announcement on June 1 said Mingly was still in talks with Ms Aw on a revised sale.

Last night the two companies said they had failed to reach an agreement on a revised offer and had decided not to proceed with further discussions.

Ms Aw was in negotiations with independent third parties over the sale of part or all of her stake, it said.

Sing Tao has applied to resume trading today.