SPH AsiaOne Ltd, the online unit of Singapore newspaper publishing company Singapore Press Holdings, has appointed United Overseas Bank president Ernest Wong as a non-executive chairman.

AsiaOne is planning to sell shares in an IPO this week, and has appointed a strong board to try to allay investor fears in a market currently unfriendly to internet IPOs.

AsiaOne's website offers news, entertainment, financial services, shopping, careers and health, as well as running The Straits Times and Business Times online editions. The company posted a loss of S$2.1 million ($1.2 million) for the six months to February against revenue for that period of S$2.8 million.