World news releases

Catcha sells down stake in iProperty

Patrick Grove’s Catcha Group has sold down almost 25 percent, or 10,000,000, of its shares in iProperty at $2.63 per share. The announcement was made in an ASX listing dated October 16. Catcha’s Kuala Lumpur-based Rev Asia earlier sold its 27.2 percent stake in iCar Asia. (Read our coverage of that here) Catcha Group runs ASX-listed Southeast Asia and Hong Kong eCommerce business iBuy...

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Newspaper classifieds drag down SPH profits

Singapore’s main newspaper publisher Singapore Press Holdings Limited has reported a drop of 6.2 percent in profit for the year ending 31 August 2014. Full year net profit was SGD$404.3 million (USD$323.36 million). In a statement released 15 October the Group said it was hit by lower profit contribution from its newspaper and magazine business that it attributes to declines in...

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What’s Patrick Grove up to? Catcha offloading iCar Asia, iProperty

Patrick Grove’s Kuala Lumpur-based Rev Asia (formerly Catcha Media) yesterday received shareholder approval to sell its 27.2 percent stake in iCar Asia and, according to Australian press, his Catcha Group is also looking to offload its shares in iProperty. (Read Australia’s Property Observer’s article here.) Rev Asia had announced its intentions to sell its stake in iCar Asia...

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REA sells HK business to iProperty, strengthens shareholder grip

m4s0n501 REA Group has sold its Hong Kong business to iProperty Group, in a deal worth AUD$15 million (US$13.5 million). The sale is subject to iProperty shareholder approval. iProperty will operate REA’s squarefoot.com.hk and its own GoHome.com.hk. Squarefoot also has a printed property magazine that iProperty will take over from REA. REA’s stake in iProperty of 17.2 percent, which...

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Rumah.com gets new country manager

Indonesia’s real estate site Rumah.com, part of Singapore-based PropertyGuru Group, has a new country manager. Rafael Jeffry Sani took up the position on Sept. 1, but his appointment was only announced officially on Oct. 7. Rumah.com had been without a country manager for a year – since the departure of its managing director Chris Antonius in Sept. 2013. Sani’s country manager...

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Marktplaats passes user data to Dutch taxman when requested

Based on an agreement and a special protocol, EBay-owned general classifieds site Marktplaats.nl passes data of individual users (such as username, address, zip code, IP address, and dates of ad listings) to the Dutch tax authority when requested, the Dutch media reported (here). The Dutch tax authority uses this information to determine people’s tax liabilities and detect cases of fraud. If a...

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