SINGAPORE - Singapore Press Holdings, which has a near monopoly on newspaper publishing in the city-state, will pay S$541.9 million ($391.8 million) for a property in Singapore.

The company said on Tuesday its subsidiary, CM Domain Pte Ltd, has received notification from the government's Housing Development Board that it won a tender for the purchase of Clementi Mall.

($1=1.383 Singapore Dollar) (Reporting by Harry Suhartono, editing by Neil Chatterjee)