SPH invests in China’s digital market

Singapore - SPH is going digital in the China market following the creation of a joint venture company 701Sou - the agreement involves Fung Choi Printing and Rainbowchina Image Company.

SPH has entered into this agreement through subsidiary, SPH Interactive International and 50% associate company 701Search, and the principal activity for the joint venture company will be to provide digital media services including online and mobile search services for the China market.

The authorised and paid up capital of 701Sou, which is registered in Hong Kong will be $25 million with SPH Interactive holding a 60% shareholding percentage. According to a SPH statement, the joint venture transaction has no material financial impact on the results of SPH for the current financial year.