was reported that 75% shares were old shares that was sold by Cereus Australia's wholly owned subsidiary Cereus Newspapers (Hong Kong) Limited and only 25% were new shares. In 1987, Sally Aw owned 101,385,026 number of shares directly while her nephew Aw Toke Tone owned 216,000 directly; they did not owned any of the subsidiaries of Sing Tao Limited, including "Hong Kong Standard Newspapers Limited" which Aw Toke Tone owned a minority stake in the late 1970s to 1984. Sing Tao Holdings Circa 1989 a Bermuda-incorporated company Sing Tao Holdings Limited replaced Sing Tao Limited as the holding company of the group. At the same time, Cereus Australia, the investment vehicle Aw used to privatise Sing Tao in 1985, was delisted on the Australian Securities Exchange in the same year by Kargat Pty Limited. The ex-parent company was engaged in property investment in Sydney. According to a book published by the Chinese University of Hong Kong, citing a document that Sing Tao Holdings was a diversified conglomerate already in 1989, which only 7.7% revenue was from the newspaper despite 50% investments were newspaper related. The company published the Sing Tao Daily, the oldest surviving Chinese language daily newspaper in Hong Kong, which is also published overseas editions in New York City, San Francisco, Vancouver, Toronto, London, Paris, Sydney and Melbourne. The first edition was published in 1938. It also published the English business newspaper The Standard in Hong Kong. Sing Tao also published the evening edition of Sing Tao Daily, known as Sing Tao Wan Pao (). The version discontinued in 1996. The company also operates several printing businesses, most notably the South China Printing Company (1988) Limited. Sing Tao Sports Club Limited, a professional football club founded by Sally Aw and Hsu King Shing (the coach of Sing Tao SC before its incorporation), was later owned by Sing Tao Limited and Wong Yue Kai (an accountant of Sing Tao Holdings). The paid-in share capital of the club was remained unchanged for many year for just HK$200. In 1990s Sing Tao Holdings also acquired another listed company Jademan Holdings (a new Bermuda-incorporated parent company was found in 1993 to replace Jademan Holdings as the listed company) Jademan Holdings was the publisher of another newspaper Tin Tin Daily News. Culturecom Holdings was sold in 1998 to . A subsidiary, Sing Tao Newspapers (Canada 1988) Limited, was also turned to a 50–50