Bruno Wu is keeping us on our toes

The following summary is taken from BSG's weekly e-newsletter (for sign-up, you can visit our home page at www.bsgasia.com. A special prize to any reader who can unravel the extraordinary shuffling of cards that has been going on at Sun Business Network (formerly Panpac Media) in Singapore since it was acquired by Bruno Wu.

Singapore, May 26: Sun Business Network (SunBiz, née Panpac Media) has announced its intention to issue shares on NASDAQ and/or other public markets outside Singapore, and potentially privatising its shares on the Stock Exchange of Singapore. SunBiz has appointed Hong Kong-based investment banking firm FB Gemini Capital as its financial advisor to explore these alternatives, to decide the placement format of shares on any foreign exchanges and/or involved in a delisting, as well as placement agent for the transaction.

“Meanwhile, the deal to inject Asia Multi-Media Technology into NASDAQ-listed SE Global Equities is still proceeding. We will make an announcement at the next milestone,” said Bruno Wu, SunBiz’s Executive Chairman.

Singapore, May 25: SunBiz has signed a 5-year content distribution agreement with Stockstar.com to distribute its China Business Post online to 7.5 million stockstar.com registered member. Chen Xiaotao, CEO of SunBiz said that the cooperation has the potential to bring in S$15-20 million (US$9-12 million) in annualized revenue. Stockstar.com, a wholly-owned subsidiary of Shanghai Meiling Computer Technology Computer Ltd, is one of China’s leading vertical financial portals serving stock traders and business people.

SunBiz also announced that Chauncey Shey has been appointed as Vice Chairman and Executive Director. Shey was co-founder of UTStarcom Inc and StarCom Network System, and was serving as CEO and President of Softbank China Holdings Pte and Softbank China Venture Corp prior to joining SunBiz.

Singapore, May 20: Last Friday, SunBiz announced the termination of the proposed divestment of an interest in its educational subsidiary, Auston International Group Ltd. SBN proposed the sale of Auston’s interest to Ethe One Ltd., Tan Choon Wee and Kim Eng Securities Pte Ltd. on 12 April 2005. Owing to the non-fulfilment of the conditions in connection with the proposed divestment, both parties agreed to terminate the agreement on 20 May 2005.

We wrote a commentary on all this for EPS Insights (subscription required to access this) a few months ago and have been watching more closely than most but still have trouble keeping up.