SATS reported a net profit of $50.1 million on the back of a 7.8 percent increase in operating revenue for the fourth quarter ended 31 March 2012. SC Global’s unit, Tanah Investments, will pay US$32.5 million, including an assignment of shareholder’s loans of approximately US$7 million, for the entire stake of Lotusvale and 95 percent stake in Tannerson. The renewed turbulence in global markets could put the brake on plans to float the Formula One motor racing business in Singapore next month, according to a source close to the deal.
Monday, May 14, 2012
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