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MONDAY, January 30, 2023
Finance Ministry to sell its massage parlour shares

Finance Ministry to sell its massage parlour shares

WEDNESDAY, January 24, 2018

The Finance Ministry has said it is preparing to sell its shares in massage-parlour businesses.

The State Enterprise Policy Office (Sepo) on Wednesday issued a statement to confirm and clarify a report that the Finance Ministry holds shares in operators of massage parlours.
Sepo said the Anti-Money Laundering Office transferred the shares to the Finance Ministry in 2012 as a result of convictions of a wrongdoer related to the sex industry.
The ministry holds about 0.5-2 per cent of four companies: Davis Diamond Star, Davis Copacabana, Davis Golden Star and Davis Silver Star.
The ministry does not receive any investment return, nor does it engage with management. The ministry plans to sell the shares in the first quarter of this year, according to the statement.