1970s (the latter was incorporated on 28 August 1970). The former was owned by Aw family directly but the latter was a subsidiary of Sing Tao Newspapers Limited in the late 1970s for 55% shares. It was owned by Aw Toke Tone (), the eldest son of the late Aw Hoe for about 90% in 1970. In October 1972, it was announced that a subsidiary (provisional Chinese name ) was formed to invest in real estate. The group purchased a land lease on 838 Lai Chi Kok Road, Kowloon (New Kowloon Inland Lot No.5567) to build a printing factory and commercial floor area for lease in 1974. In 1977, it was announced that the group had formed its own recording studio and photography processing centre that open to retail customers. According to 1977–78 result announcement, Sing Tao Group had also expanded into travel agency, medical centre and pharmaceutical industry. By 1979, Sing Tao operated their printing and publishing business as ), as well as Leefung-Asco's joint venture South China Printing Co., Ltd. Sing Tao also invested 49% stake in a documentary studio Farkas Studios in 1979. Privatization and second IPO In 1985, the company was privatised by Sally Aw via an Australian-listed company Cereus Australia for a reported price HK$13 per share (HK$11.5 cash and 1 share of Cinclus.) However, shares owned by Aw family members would only receive HK$9 per share (HK$7.5 cash and 1 share of Cinclus). The deal also made Cinclus had a wide shareholders base to apply for listing as a replacement of Sing Tao. Sing Tao and now independent listed company (ex-Cinclus), via an investment vehicle Scilla Limited, made a high-profile purchase on a land lease (Kowloon Inland Lot No.10722) in Canton Road, Tsim Sha Tsui, Kowloon in October 1985. The newspaper credited the land lease was the "Land King of Canton Road" (). The price was HK$630 million (HK$705 per gross floor area). It was reported that the consortium had re-sold the land lease to other real estate developer in 1986, which the location was now known as Lippo Sun Plaza, The Sun Arcade and a hotel, The Langham (Hong Kong). However, less than a year of privatisation, Sing Tao Newspapers Limited was renamed to Sing Tao Limited (); the company started another IPO in 1986 and traded on the Stock Exchange of Hong Kong Limited on 19 March of the same year. It