People with Passion - Singapore Press Holdings
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Summary Report 2015 People with Passion
Corporate Profile
Incorporated in 1984, main board-listed
Singapore Press Holdings Ltd (SPH) is Asia’s
leading media organisation, engaging minds
and enriching lives across multiple languages
and platforms.
Media four student weeklies - zbCOMMA,
The English/Malay/Tamil Media Thumbs Up, Thumbs Up Junior
group comprises the print and digital and Thumbs Up Little Junior,
operations of The Straits Times, ZbBz Newsgazine and My Paper
The Business Times, The New Paper, (Chinese section). It also operates
Berita Harian, My Paper (English SPH Radio’s Chinese radio station,
section) and two student publications UFM100.3, and Focus Publishing,
IN and Little Red Dot. It also consists which produces a range of books
of Tamil Murasu Ltd, which publishes and magazines including U-Weekly.
Tamil Murasu and tabla!; book
publishing arm Straits Times Press; SPH’s other new media initiatives
SPH Data Services, which licenses include AsiaOne, Stomp, omy.sg
the use of the Straits Times Index, and SPH Razor.
in partnership with the Singapore
Exchange and FTSE Ltd; financial data SPH Magazines, SPH’s wholly-owned
company ShareInvestor; and the two subsidiary, publishes and produces
English stations of SPH Radio - Kiss92 more than 100 magazine titles
and ONE FM 91.3. and has various online sites, like
hardwarezone.com, herworldplus.com
The Chinese Media group publishes and luxuryinsider.com in Singapore
three Chinese newspapers - Lianhe and the region, covering a broad
Zaobao, Lianhe Wanbao and Shin range of interests from lifestyle to
Min Daily News; the digital editions of information technology. It has also
Contents Lianhe Zaobao and Lianhe Wanbao, invested in digital newsstand Magzter.
03 Group Financial Highlights
04 Chairman’s Statement
08 Board of Directors
14 Further Information on
Board of Directors
18 CEO’s Overview of
Group Operations
34 Organisation Structure
35 Corporate Information
36 Investor Relations
38 Investor Reference
40 Summary Financial Statement
54 Shareholding Statistics
56 Notice of Annual
General Meeting
Proxy Form
Request Form
SPH also provides Out-of-Home Other Businesses Education
(OOH) advertising through its digital SPH has a 22 per cent stake in
out-of-home platform SPHMBO. Online Classifieds preschool and enrichment provider
SPH’s online classifieds include ST701, MindChamps.
SPH Buzz is a modern retail the leading online marketplace for
convenience chain with a network jobs (STJobs), property (STProperty), For more information, please visit
of stores around the island. cars (STCars) and general classifieds www.sph.com.sg.
(STClassifieds), sgCarMart and
SPH has a 20 per cent stake in StreetSine. Our Brand Statement
MediaCorp TV Holdings Pte Ltd, To be Asia’s Leading Media
which operates free-to-air channels SPH’s regional joint venture online Organisation, Engaging Minds and
5, 8 and U, and a 40 per cent stake classifieds business has a number of Enriching Lives, Across Multiple
in MediaCorp Press Limited, which leading online classifieds sites in the Languages and Platforms.
publishes the free newspaper, Today. region.
Our Core Values (EXCITE)
Properties Events and Exhibitions EXcellence
SPH REIT is a Singapore-based REIT Sphere Exhibits, Sphere Conferences, Customer-focus
established to invest in a portfolio Exhibits Inc and Bizlink Exhibition Integrity
of income-producing real estate Services organise innovative consumer Teamwork
primarily for retail purposes. SPH REIT and trade events and exhibitions as Embracing Change
comprises Paragon, a premier upscale well as large scale conferences in
retail mall and medical suite/office Singapore and the region.
property in Orchard Road and The
Clementi Mall, a mid-market suburban
mall in the centre of Clementi town.
The Seletar Mall, located in Sengkang,
is SPH’s latest retail development.
This property is a potential asset to be
injected into SPH REIT. SPH’s wholly-
owned subsidiary, Times Development
Pte Ltd, also developed a 43-storey
upmarket residential condominium,
Sky@eleven, at Thomson Road.
Passion to Inform With the passion to make a difference with the power of words, we help people make informed decisions as well as bring stories to light. Our words help define the issues of our time and our future. Passion to Inspire The airwaves are the gateway to our realms of inspiration. Providing us with the platform to have meaningful and engaging conversations with our listeners while entertaining them with a passion. Passion to Innovate The technological revolution that has influenced the media landscape is in constant evolution. We are not just content to keep pace with these advances but work passionately to find innovative ways to connect consumers and our operations to each other and to the world. Passion to Captivate Maximising exposure and the ability to connect businesses with the right audience is an art form. We believe in opening up a world of opportunities for businesses and are driven by a passion to see our captivating ideas come to fruition. Passion to Collaborate Passion is an intangible asset that cannot be felt but can be seen with actions. As such, we approach every collaboration with our tenants with a dedicated purpose in making their brands come to the forefront and resonate with shoppers.
Singapore Press Holdings Summary Report 2015 03
Group Financial Highlights
for the financial year ended August 31, 2015
2015 2014 Change
S$’000 S$’000 %
Operating revenue 1,177,080 1,215,184 (3.1)
Operating profit# 353,500 348,963 1.3
Profit before taxation 430,245 528,391 (18.6)
Profit after taxation 370,422 470,736 (21.3)
Non-controlling interests (48,721) (66,450) (26.7)
Profit attributable to shareholders 321,701 404,286 (20.4)
Shareholders’ interests 3,618,813 3,687,095 (1.9)
Total assets 6,070,042 6,651,396 (8.7)
Total liabilities 1,723,392 2,255,213 (23.6)
Non-controlling interests 727,837 709,088 2.6
Dividends declared for the financial year 322,855 339,412 (4.9)
Profitability ratios % % % points
Operating margin^ 30.0 28.7 1.3
Return on operating revenue 27.3 33.3 (6.0)
Return on shareholders’ funds 8.9 11.0 (2.1)
Per share data %
Net assets attributable to shareholders (S$) 2.24 2.28 (1.8)
Profit attributable to shareholders (S$) 0.20 0.25 (20.0)
Dividends declared for the financial year (cents)## 20 21 (4.8)
Dividend cover for the financial year (times) 1.0 1.2 (16.7)
Value added S$ S$ %
Per employee 201,877 203,756 (0.9)
Per $ employment costs 2.28 2.26 0.9
Per $ investment in property, plant and equipment
(before depreciation) 0.87 0.87 -
Per $ operating revenue 0.73 0.72 1.4
# This represents the recurring earnings of the media, property and other businesses.
^ Computed based on recurring earnings.
## These dividends are tax-exempt. The proposed final dividend of 13 cents per share, comprising a normal dividend of 8 cents per share and a special
dividend of 5 cents per share, is subject to approval by shareholders at the Annual General Meeting on December 1, 2015.
04 Singapore Press Holdings Summary Report 2015 Chairman’s Statement Lee Boon Yang Chairman
Singapore Press Holdings Summary Report 2015 05
SPH managed to turn in a creditable
performance in Financial Year 2014/2015
with a net profit of $321.7 million.
The past financial year witnessed To reward our loyal shareholders,
considerable global market the Board has proposed a dividend Group Net Profit
uncertainty and currency volatility. of 13 cents per share, comprising a
The Greek crisis, coupled with Normal Dividend of 8 cents per share
China’s economic slowdown, and a Special Dividend of 5 cents
impacted the world economy and per share in respect of the financial
Singapore too. SPH’s performance year ended 31 August 2015. We had
was affected by these wider earlier declared and paid an interim
economic conditions. dividend of 7 cents per share.
Despite these unfavourable FY2015 was also a special year as $321.7m
conditions, SPH managed to turn in SPH celebrated Singapore’s golden
a creditable performance in Financial jubilee with a variety of events to
Year 2014/2015 with a net profit of engage the public. These included the
$321.7 million. This represents a Sing50 concert by The Straits Times Group Operating
20.4 per cent decrease compared and The Business Times, as well as
to the last financial year. But this was the SG50 Sing-Along organised
Revenue
mainly due to a lower fair value gain by our Chinese Media group.
on investment properties and the The Straits Times and Zaobao.com
one-off gain in the previous year from also celebrated their 170th and
a partial divestment. 20th anniversaries respectively.
At the operating level, the Group
performed respectably. Group
Enhancing our Core Media
Products $1,177m
recurring earnings of $353.5 million We reorganised our newspaper
was higher by $4.5 million. divisions and transformed them
into integrated operations,
Revenue from the Media business producing both print and digital
was $902.5 million, a $60.9 million content across all platforms and
or 6.3 per cent decline from last encompassing adjacent businesses.
year. This was attributable to The renamed English/Malay/Tamil
declines in both advertising revenue Media group, comprises not only
($53.7 million or 7.4 per cent) and the print and digital operations of
circulation revenue ($10.1 million The Straits Times, The Business
or 5.4 per cent). Times, The New Paper, Berita Harian,
Tamil Murasu and My Paper
The lower contribution from its Media (English section), but also several
business was cushioned by higher media-related subsidiaries. These
property revenue. The consistent include book subsidiary The Straits
efforts we have made over the years Times Press, the two English stations
to diversify the Group’s operations of SPH Radio (Kiss92 and
have paid dividends. We intend to ONE FM 91.3), financial data
continue to identify and evaluate company ShareInvestor, and SPH
growth opportunities and to pursue Data Services which commercialises
those that show good potential. the Straits Times Index.
06 Singapore Press Holdings Summary Report 2015
Chairman’s Statement
The Chinese Media group now extend The Straits Times’ reach to SPH invested in property analytics
incorporates Focus Publishing, non-subscribers by giving them the company, StreetSine, in November
which publishes a range of books opportunity to read a limited number 2014. By merging its operations
and magazines, and SPH Radio’s of articles each month. with STProperty, we offer consumers
Chinese station UFM100.3. and real estate professionals a
This is in addition to its three Magazines one-stop shop for all information
Chinese newspapers - Lianhe SPH Magazines has established around property-related transactions,
Zaobao, Lianhe Wanbao and Shin itself as the Publisher of Choice empowering them to make better
Min Daily News, together with four with its sterling editorial content decisions.
student weeklies, ZbBz Newsgazine and award-winning designs over
and My Paper (Chinese section). the years. Ninety of our magazines We also invested in Qoo10,
have launched digital editions, the number one ranked e-commerce
The consolidation of our core and this will continue to complement website in Singapore. This will
media products and media-related our stable of more than 100 titles enhance our portfolio of digital
subsidiaries promotes synergy of print offerings spanning a wide assets and open up opportunities
and facilitates growth of our media range of interests and genres. for future marketing collaborations.
adjacencies. All our newsrooms We continue to hold a leading With the region’s e-commerce market
are now on the lookout for new position in magazine publishing poised to grow, this investment puts
lines of business without impacting in Asia with presence in Malaysia, us in a good position to tap on the
negatively on their core business. Hong Kong, China, India, Indonesia, industry’s growth and be an active
This is particularly important in Thailand, the Philippines and Vietnam. player in this e-commerce space.
today’s dynamic and evolving media
landscape so that we remain relevant Focus Publishing, which publishes As part of SPH’s long term strategy
to all our stakeholders. U-Weekly and Health No. 1, is also to invest in innovative digital media
expanding with new special interest companies which have synergies
Newspapers Chinese magazine titles such as with our existing businesses,
SPH’s total newspaper circulation, UW Travel & Leisure magazine and SPH Media Fund collaborated
covering both print and digital Fabulous U. with Plug and Play and Infocomm
editions, averaged 1,113,879 copies Investments, a wholly-owned
per day, a year-on-year increase of Digital Operations and Investments subsidiary of the Infocomm
4.3 per cent. This was achieved by The Group continued to make Development Authority (IDA) of
reaching out to more readers on their headway in the digital space. Singapore, to launch an accelerator
mobile devices while continuing to Our Digital Division achieved good programme in April 2015.
excel in print. The total daily average growth in digital revenues from both Called SPH Plug and Play, the
circulation (print and digital) of The advertising and content marketing programme will identify young
Straits Times and The Sunday Times as well as digital subscriptions. companies with potential and
registered year-on-year growth of In May 2015, we signed a multi-year nurture them into strong and
4.9 per cent to 481,700. Lianhe partnership with the world’s largest sustainable businesses across media
Zaobao achieved year-on-year content discovery platform Outbrain. sectors ranging from advertising,
increase of 2.5 per cent to 187,900 By capitalising on Outbrain’s e-commerce, marketplaces, mobile,
total daily average circulation. data analytics, automation and news and content distribution to
personalisation technology, we are public relations.
As part of our continuous efforts to able to increase user engagement
enhance our products and engage and revenue optimisation. Beyond Singapore, we continued to
our readers, The Straits Times and strengthen our regional presence in
The Business Times underwent The Straits Times, Lianhe Zaobao, online marketplaces. In November
major revamps. The digital apps Lianhe Wanbao, together with news 2014, 701Search, which operates
and websites of both publications aggregator website AsiaOne and the online classifieds companies
were refreshed to provide a faster, bilingual interactive web portal Mudah.my (Malaysia) and Chotot.vn
sharper and more stable user omy.sg, developed and launched (Vietnam), partnered Naspers
experience. More advertising Apple Watch applications. These apps Limited, a broad-based multinational
opportunities are also available for put us at the forefront of the latest internet and media group specialising
advertisers across platforms. A new innovations and help our readers in e-commerce, pay-television and
metered-paywall was introduced to access the latest news on the go. print media, to develop the online
Singapore Press Holdings Summary Report 2015 07
classifieds platforms in Indonesia and Our Out-of-Home media advertising We are heartened that according to
Thailand. This is in addition to our has continued to grow its product line an Image Perception survey done
earlier investments with Schibsted and secured marketing rights to new by our research team at the end of
and Telenor, resulting in a four-way advertising locations in the Central 2014, 91 per cent of over 1,000
partnership that will bring substantial Business District and its fringes. respondents were aware of SPH’s
benefits to all parties. active corporate social responsibility
Awards and Accolades efforts. We will continue to ensure
Radio As the leading media organisation long term shareholder value by being
SPH Radio continued to grow in Asia, SPH maintained its record a good corporate citizen.
from strength to strength. of winning multiple accolades in
Kiss92, Singapore’s only radio various fields. The Straits Times, For the fourth consecutive year,
station targeting female listeners, Lianhe Zaobao, The New Paper and we have also included sustainability
achieved the highest growth in “See The Big Picture” campaign, reporting into this annual report.
cumulative listenership among won a total of seven awards at the We are constantly looking for ways
English radio stations in the latest Asian Media Awards in April 2015. to reduce the negative impact on the
Nielsen ratings. ONE FM 91.3 was The Awards honour recipients with environment by lowering our carbon
also revamped focusing on male the highest publishing standards emissions and improving energy
listeners over 30 years of age. in the fields of newspaper and efficiency in our daily operations.
Besides the latest songs, the station magazine design, infographics,
also offers up-to-date Sports and printing, editorial content, A Special Word of Thanks
Men’s lifestyle news. Our Chinese marketing, community service and Our team of dedicated staff have
language station, UFM100.3, photojournalism. worked tirelessly to achieve
remains a popular choice for excellence. I want to thank them for
working professionals aged Among them, the “See the Big their commitment and dedication.
between 35 and 49 years. Picture” campaign, which was We continue to make every effort
organised in conjunction with SPH’s to recruit and develop our talents
Diversifying our Businesses 30th anniversary celebrations last to their fullest potential as human
Our efforts to diversify our year and featured autistic savant capital remains our greatest asset.
businesses have made good Stephen Wiltshire’s “live” drawing
progress. On the property front, at Paragon, garnered 14 regional On behalf of the directors, I would
our third property offering, and international awards, including like to thank our management,
The Seletar Mall, opened its doors for Best Brand Awareness, Best staff, business associates, unions,
to the public in November last year. Consumer Event and Best in investors and all other stakeholders
SPH REIT, which comprises Paragon, Community Service. for their continuous belief in,
our premier upscale retail mall and and support to, the Company.
medical suite/office property located SPH Magazines also won a total of
in the heart of Orchard Road, 16 awards at the Media Publishers We will continue to demonstrate
and The Clementi Mall, a suburban Association Singapore (MPAS) Awards. adaptability and resilience,
mall in Clementi, continued to Of these, eight titles received top and pursue opportunities that
perform well with 100 per cent honours in their respective categories. position the Group for sustainable
occupied tenancy. growth and value creation. I am
Corporate Social Responsibility confident that with the continued
Sphere Exhibits, SPH’s events and As a responsible corporate citizen, support of all our stakeholders,
exhibitions arm, organised more we have championed a growing SPH can overcome obstacles that
than 30 exhibitions and conferences diversity of programmes and come our way as we continue to
in Singapore, Malaysia, Myanmar initiatives to give back to society. strive for organisational and
and the Philippines in the past year. SPH and SPH Foundation were business excellence.
Sphere Conferences, which was set honoured with the Corporate
up to boost its presence in the local Platinum Award by the Community
and regional MICE business, Chest for the sixth consecutive
also made its foray into Sri Lanka and year. SPH also received the Patron
Indonesia by launching the Hospitality of the Arts and a special SG50 Arts
Investment Conference Indian Patron Award from the National
Ocean and Hospitality Investment Arts Council for our long-standing Lee Boon Yang
Conference Indonesia respectively. support of local arts. Chairman
08 Singapore Press Holdings Summary Report 2015 Board of Directors 01 Lee Boon Yang 06 Ng Ser Miang Chairman Non-Executive and Independent Director Non-Executive and Independent Director 02 Alan Chan Heng Loon 07 Quek See Tiat Chief Executive Officer Non-Executive and Independent Director Executive and Non-Independent Director 03 Janet Ang Guat Har 08 Tan Chin Hwee Non-Executive and Independent Director Non Executive and Independent Director 04 Bahren Shaari 09 Tan Yen Yen Non-Executive and Independent Director Non-Executive and Independent Director 05 Chong Siak Ching 10 Lucien Wong Yuen Kuai Non-Executive and Independent Director Non-Executive and Independent Director 01 02 03 04
Singapore Press Holdings Summary Report 2015 09 05 06 07 08 09 10
10 Singapore Press Holdings Summary Report 2015
Board of Directors
Lee Boon Yang Alan Chan Heng Loon
Boon Yang was appointed a Director Alan joined SPH as its Group Before joining SPH, Alan was an
of SPH on 1 October 2011. He is President on 1 July 2002, and was Administrative Officer in the Civil
the Non-Executive Chairman of appointed Chief Executive Officer on Service. He has worked in the
Keppel Corporation Limited. He is 1 January 2003. He is responsible Government for 25 years and
also Chairman of Singapore Press for managing the group’s portfolio some of his previous appointments
Holdings Foundation Limited, Keppel of businesses which include included Permanent Secretary
Care Foundation Limited, Jilin Food newspapers, magazines and book of the Ministry of Transport,
Zone Pte Ltd and Jilin Food Zone publishing; Internet & mobile; Deputy Secretary of the Ministry
Investment Holdings Pte Ltd. broadcasting; events and out-of-home of Foreign Affairs, Principal Private
advertising and properties. Secretary to Senior Minister
He has extensive experience Lee Kuan Yew and Director of
in public service. He served as Alan is currently on the boards of Manpower, Ministry of Defence.
Member of Parliament for Jalan Singapore Press Holdings Ltd and
Besar and Jalan Besar Group its subsidiaries including SPH REIT Alan holds a Diplome d’Ingenieur
Representation Constituency (GRC) Management Pte Ltd. He is also a from the Ecole Nationale de
from December 1984 to April 2011. Director of Singapore Press Holdings l’Aviation Civile, France and MBA
He was the Minister for Information, Foundation Limited, MediaCorp TV (with Distinction) from INSEAD,
Communications and the Arts Holdings Pte Ltd, MediaCorp Press France. He is a President’s Scholar
before retiring from political office Ltd, Lan Ting Holdings Pte Ltd, and was conferred the Public
in March 2009. Pavilion Energy Pte Ltd and Pavilion Administration Medal (Gold and
Gas Pte Ltd. Silver) and Meritorious Service
From 1991 to 2003, he served Medal for his contributions to public
as Minister in the Prime Minister’s He currently chairs the External service. In 2009, he was selected
Office, Minister for Defence, Review Panel for SAF Safety and by INSEAD as “one of 50 Alumni
Minister for Labour and later Minister the Singapore-China Foundation. who changed the world”.
for Manpower. Prior to that, He is also a member of the Public
he held several public appointments Service Commission (PSC),
including Senior Minister of State the Singapore Symphony Orchestra
for Defence, National Development Council and the Centre for Liveable
and Home Affairs, and Parliamentary Cities’ Distinguished Advisors’ Panel;
Secretary to the Ministers and a Director of Business China.
for Environment, Finance, He also serves on the boards of the
Home Affairs, and Communications Federation Internationale of Periodics
and Information. Publishers and the World Association
of Newspapers and News Publishers
Before entry into politics, he worked – IFRA (WAN-IFRA). He chaired the
as a veterinarian and R&D Officer in Council that revised the Code of
the Primary Production Department. Corporate Governance in 2012.
He has also worked as the Assistant
Regional Director for the US Feed
Grains Council, and as Senior Project
Manager for the Primary Industries
Enterprise Pte Ltd.
Boon Yang holds a B.V.Sc Hon (2A)
from the University of Queensland.Singapore Press Holdings Summary Report 2015 11
Janet Ang Guat Har Bahren Shaari Chong Siak Ching
Janet was appointed a Director on Bahren was appointed to the Board Siak Ching was appointed a
17 October 2014. on 1 April 2012. He is the Chief Director of SPH on 22 October
Executive Officer of the Bank of 2010. She is the Chief Executive
Janet is the Vice-President of Systems Singapore, and before that, was its Officer and a Board Director of the
of Engagement & Smarter Cities, Managing Director and Marketing National Gallery Singapore. She
IBM Asia Pacific, covering Australia Head of South East Asia. He has was recognised as the ‘Outstanding
& New Zealand, India, ASEAN and more than 20 years of private CEO of the Year’ in the Singapore
Korea. Prior to this role, Janet was the banking experience in global Business Awards 2009.
Managing Director of IBM Singapore financial institutions. He is also a
from 2011 to 2015. In her 33 years in Director of BOS Securities Korea. She is also a Director of
the industry, she has worked in Japan, Singapore-India Partnership
China and Singapore, holding various Prior to joining Bank of Singapore, Foundation, a member of the
senior leadership positions in IBM in he was Managing Director of UBS National Arts Council, NUS Board
management, sales, marketing and AG Wealth Management where he of Trustees and Yale-NUS College
operations. headed the South East Asia and Governing Board. She is also
Australia Marketing team. He is the Non-Resident Ambassador-
Janet serves on the boards of active in public service and was a designate to Chile.
the Public Utilities Board (PUB), board member of the Maritime Port
the InfoComm Development Authority of Singapore for 11 years. She was President and Chief
Authority (iDA), the NUS Institute In 2008, he was conferred the Executive Officer of Ascendas Pte.
of Systems Science (ISS), the National Public Service Medal by the Ltd and served in the Ascendas
Volunteer & Philanthropy Center President of Singapore. group of companies from 2000 to
(NVPC), and is the Chairperson of 2013. Prior to this, she was Deputy
Caritas Singapore. Janet is a member Bahren graduated with a Bachelor Chief Executive Officer of JTC
of Business China, a Fellow of the of Accountancy from the National Corporation from 2000 to 2001.
Singapore Computer Society (SCS) University of Singapore. He attended
and the President of the International the Advance Management Program Siak Ching graduated from the
Women’s Forum (IWF) Singapore. of Wharton Business School and National University of Singapore
Columbia University. (NUS) with an Honours Degree in
She also served on various Estate Management. She also has a
committees including the recent Masters in Business Administration
Medishield Life Review Committee from NUS and has completed the
and the Women’s Health Advisory Advance Management Program
Committee (WHAC). at Harvard Business School. She
was conferred a Distinguished
Janet holds a Business Administration Alumni Award by NUS in the
(Hons) degree from NUS Business Faculty of Architecture and
School. She was a recipient of the Building Management in 1999. In
NUS Business School Eminent Alumni 2009, she was again conferred
Award in 2014. a NUS Distinguished Alumni
Service Award in recognition of
her unwavering commitment and
service to her alma mater.12 Singapore Press Holdings Summary Report 2015
Board of Directors
Ng Ser Miang Quek See Tiat Tan Chin Hwee
Ser Miang joined the SPH Board on See Tiat joined the SPH Board on Chin Hwee was appointed a Director
1 August 2007. He is the Chairman 1 September 2013. on 1 March 2014. He is the founding
of TIBS International Pte Ltd and a partner and a Director of Apollo
Director of Yanlord Land Group Ltd. From 1 July 1987 to 30 June Management Singapore Pte Ltd.
He is also the Chairman of the Board 2012, See Tiat was a Partner and
of Trustees of Fundacion Valencia Club subsequently Deputy Chairman of He is a Director of Keppel REIT
de Futbol De La C.V., and a Director of PricewaterhouseCoopers LLP. Management Limited (as manager
Valencia Club de Futbol, S.A.D. He has extensive audit and business of Keppel REIT), Lien Aid Limited
advisory experience, and has been (Singapore), KKH Health Endowment
He was a Director of TIBS Ltd, involved in planning, executing and Fund; and on the Board of Trustees of
SMRT Ltd, Biosensors International managing audits of large public listed the Nanyang Technological University.
Group Ltd, International Factors companies in Singapore. Chin Hwee is an Adjunct Professor
(Singapore) Ltd, Transpac in a number of universities, and is
Industrial Holdings Limited and See Tiat is the Chairman of the an advisory board member for the
WBL Corporation Ltd. He was the Building and Construction Authority Shanghai Advance Institute of Finance
Chairman of NTUC Fairprice and serves on the boards of the and Shanghai Jiao Tong University.
Co-operative Limited, NTUC Choice Monetary Authority of Singapore, He also serves on the Finance Centre
Homes Co-operative Limited and Energy Market Authority, Singapore Advisory Panel of the Monetary
NTUC Fairprice Foundation Ltd. Technologies Engineering Ltd and Authority of Singapore. Chin Hwee was
Neptune Orient Lines Ltd. He is also the Managing Director of Amaranth
Ser Miang is Singapore’s non-resident the Deputy President of the Council Advisors, as well as President and
Ambassador to the Kingdom of of Estate Agencies. Director of CFA Singapore.
Norway, Chairman of the Singapore
Olympic Foundation, a member of the See Tiat graduated with Honours Chin Hwee holds a Bachelor
International Olympic Committee (IOC) (Second Class Upper) in Economics of Accountancy (Second Class
and Chairman of the IOC Finance from the London School of Upper Honours) from Nanyang
Commission. He was a former Economics & Political Science. Technological University, and a MBA
Nominated Member of Parliament and He is also a Fellow with the Institute from Yale University. He completed
a former non-resident Ambassador of Chartered Accountants in England a postgraduate course at Harvard
to the Republic of Hungary. He was and Wales. He was conferred the Kennedy School. He is a Chartered
Chairman of the Inaugural Youth Public Service Medal in 2009 and the Financial Analyst (CFA) and is both an
Olympic Games in Singapore in 2010. Public Service Star in 2014. Australian and Singapore registered
He was Vice President of IOC from Certified Public Accountant (CPA).
2009 to 2013.
Chin Hwee was honoured as a
He was named Outstanding Chief World Economic Forum Young
Executive of the Year 1992. In addition Global Leader 2010 and is the
to the Public Service Star in 1999, winner of the Singapore 2013
he was conferred the Meritorious Distinguished Financial Industry
Service Medal (Pingat Jasa Gemilang) Certified Professional (FICP) Award.
by the Singapore Government for the He was also voted by the Hedge
National Day Awards in 2010. He was Fund Journal as among the emerging
also conferred the Meritorious Award top 40 absolute return investors
Commander’s Cross by the President globally and was also named as
of Hungary in 2012. Best Asia Credit Hedge Fund
Manager by Hong Kong-based
Ser Miang holds a BBA (Honours) publication, The Asset.
from the University of Singapore.Singapore Press Holdings Summary Report 2015 13
Tan Yen Yen Lucien Wong Yuen Kuai
Yen Yen joined the Board on 1 April Lucien was appointed a Director
2012. She is currently the Regional on 15 October 2009. He is the
Vice-President and Managing Chairman and Senior Partner of the
Director of SAS South Asia Pacific, law firm, Allen & Gledhill LLP, and has
SAS Institute Inc. extensive experience in legal practice,
specialising in banking, corporate and
She is the Chairman of the Singapore financial services work.
Science Centre, a member of the
Defence Science & Technology He is currently Chairman of the
Agency (DSTA) Board, and Director Maritime and Port Authority
of Cap Vista Pte Ltd and Gemalto NV. of Singapore and Singapore
Additionally, she sits on the Board of International Arbitration Centre.
Advisors of the Singapore Institute He is a member of the Board of
of Directors. She is a member of the Trustees of Singapore Business
National University of Singapore’s Federation, and a Director of
School of Computing. Singapore Health Services Pte
Ltd and Singapore International
Prior to joining SAS, she was Senior Mediation Centre Limited. He also
Vice President, Applications, Oracle sits on the boards of Temasek
Corporation Asia Pacific, and Vice Holdings (Private) Limited, Hap Seng
President and Managing Director for Plantations Holdings Berhad and
Hewlett-Packard Singapore. Singapore Airlines Limited.
Yen Yen has played an active role Lucien holds a Bachelor of Law
in Singapore’s infocomm industry, (2nd Class Upper) Honours degree
having served as Chairman of the from the University of Singapore
Singapore Infocomm Technology and was called to the Singapore
Federation and Deputy Chairperson Bar in 1979.
on the Ministry of Information,
Communications and the Arts
(MICA) Internet and Media Advisory
Committee. She was also a member
of the Government Parliamentary
Council of MICA and the Economic
Strategies Committee’s IT Working
Group subcommittee and the
Singapore Institute of Management’s
International Academic Panel.
She is in the Ministry of Culture,
Community and Youth’s High
Performance Sports Performance &
Selection Sub-Committee that steers
the development of High Performance
Sports in Singapore. She is also
a member of ASEAN Para Games
Organising Steering Committee.
Yen Yen has a degree in Computer
Science from the National University
of Singapore and an Executive MBA
degree with Helsinki School of
Economics Executive Education.14 Singapore Press Holdings Summary Report 2015
Further Information on
Board of Directors
Lee Boon Yang Alan Chan Heng Loon
Chairman Chief Executive Officer
Non-Executive and Executive and
Independent Director Non-Independent Director
Date of first appointment as a Date of first appointment as a Directorships over the past
director: director: 3 years (1/9/12 - 31/8/15)
1 October 2011 1 July 2002 - Lee Kuan Yew Fund for
Date of last re-election as a Date of last re-election as a Bilingualism
director: director: (Member)
29 November 2013 2 December 2014 - Singapore Power Ltd.
(Director)
Board Committee(s) served on: Board Committee(s) served on: - SP PowerAssets Ltd.
- Executive Committee - Executive Committee (Chairman)
(Chairman) - PowerGas Ltd.
- Remuneration Committee Current Directorships/Principal (Chairman)
(Chairman) Commitments
- Nominating Committee - Singapore Press Holdings * Public-listed company
Foundation Limited
Current Directorships/Principal (Director)
Commitments - SPH REIT Management Pte. Ltd.
- Keppel Corporation Limited* (Director)
(Chairman) (as Manager of SPH REIT*)
- Keppel Care Foundation Limited - MediaCorp Press Ltd.
(Chairman) (Director)
- Singapore Press Holdings - MediaCorp TV Holdings Pte. Ltd.
Foundation Limited (Director)
(Chairman) - External Review Panel for SAF Safety
- Jilin Food Zone Pte. Ltd (Chairman)
(Chairman) - Centre for Liveable Cities
- Jilin Food Zone Investment (Member)
Holdings Pte. Ltd. - Singapore-China Foundation Ltd.
(Chairman) (Chairman)
- Business China
Directorships over the past (Director)
3 years (1/9/12 - 31/8/15) - Lan Ting Holdings Pte. Ltd.
Nil (Director)
- Pavilion Energy Pte. Ltd.
* Public-listed company (Director)
- Pavilion Gas Pte. Ltd.
(Director)
- World Association of
Newspapers - IFRA
(Director)
- Federation Internationale of
Periodics Publishers
(Member)
- Public Service Commission
(Member)
- Singapore Symphony Orchestra
Council
(Member)Singapore Press Holdings Summary Report 2015 15
Janet Ang Guat Har Bahren Shaari Chong Siak Ching
Non-Executive and Non-Executive and Non-Executive and
Independent Director Independent Director Independent Director
Date of first appointment as a Date of first appointment as a Date of first appointment as a
director: director: director:
17 October 2014 1 April 2012 22 October 2010
Date of last re-election as a Date of last re-election as a Date of last re-election as a
director: director: director:
2 December 2014 30 November 2012 2 December 2014
Board Committee(s) served on: Board Committee(s) served on: Board Committee(s) served on:
- Audit Committee@ - Audit Committee - Nominating Committee
- Board Risk Committee@ (Chairman) - Remuneration Committee@
- Executive Committee@
Current Directorships/Principal Current Directorships/Principal
Commitments Current Directorships/Principal Commitments
- IBM Singapore Pte. Ltd. Commitments - National Gallery Singapore
(Director) - Bank of Singapore Ltd. (Chief Executive Officer &
- Caritas Singapore (Director) Director)
(Chairperson) - BOS Securities Korea - National University of Singapore
- InfoComm Development (Director) (Trustee)
Authority of Singapore - Yale-NUS College Governing
(Board Member) Directorships over the past Board
- National Volunteer & 3 years (1/9/12 - 31/8/15) (Member)
Philanthropy Centre - Maritime and Port Authority of - National Arts Council
(Board Member) Singapore (Council Member)
- Public Utilities Board (Member) - Singapore-India Partnership
(Board Member) Foundation
@ Appointed on 2 December 2014
- NUS Institute of Systems Science (Director)
(ISS) - Non-Resident Ambassador-
(Board Member) designate to Chile
- Business China
(Director)
- International Women’s Forum
(IWF) Singapore
(President)
Directorships over the past
3 years (1/9/12 - 31/8/15)
- Nil
@ Appointed on 2 December 201416 Singapore Press Holdings Summary Report 2015
Further Information on
Board of Directors
Chong Siak Ching Ng Ser Miang Quek See Tiat
Non-Executive and Non-Executive and Non-Executive and
Independent Director Independent Director Independent Director
Directorships over the past Date of first appointment as a Date of first appointment as a
3 years (1/9/12 - 31/8/15) director: director:
- Ascendas Pte Ltd 1 August 2007 1 September 2013
(Director) Date of last re-election as a Date of last re-election as a
- Standards, Productivity and director: director:
Innovation Board (SPRING) 29 November 2013 29 November 2013
(Deputy Chairman)
- Ascendas Funds Management (S) Board Committee(s) served on: Board Committee(s) served on:
Limited - Nominating Committee - Board Risk Committee
(as Manager of Ascendas Real (Chairman)@ (Chairman)
Estate Investment Trust*) - Executive Committee@
(Deputy Chairman) Current Directorships/Principal - Audit Committee
- Ascendas Property Fund Trustee Commitments
Pte. Ltd. - TIBS International Pte Ltd Current Directorships/Principal
(as Trustee-Manager of Ascendas (Chairman) Commitments
India Trust*) - Yanlord Land Group Limited* - Singapore Technologies
(Director) (Director) Engineering Ltd*
- Ascendas Hospitality Fund - Singapore Olympic Foundation (Director)
Management Pte Ltd (Chairman) - Neptune Orient Lines Ltd*
(as Manager of Ascendas - Fundacion Valencia Club de (Director)
Hospitality Trust*) Futbol De La C.V. - Building and Construction
(Director) (Chairman) Authority
- Ascendas Hospitality Trust - Valencia Club de Futbol, S.A.D. (Board Member/ Chairman)
Management Pte Ltd (Director) - Monetary Authority of
(as Trustee-Manager of Ascendas Singapore
Hospitality Trust*) Directorships over the past (Board Member)
(Director) 3 years (1/9/12 - 31/8/15) - Energy Market Authority
- Frasers Property (China) Limited*# - NTUC Fairprice Co-operative (Board Member)
(Director) Limited - Council of Estate Agencies
- Singapore Business Federation (Chairman) (Deputy President)
(Deputy Honorary Treasurer) - NTUC Fairprice Foundation Ltd
- Jurong Health Services Pte. Ltd. (Chairman) Directorships over the past
(Director) - WBL Corporation Limited* 3 years (1/9/12 - 31/8/15)
(Chairman) Nil
@ Appointed on 2 December 2014 - NTUC Choice Homes
* Public-listed Co-operative Limited
@ Appointed on 2 December 2014
# Company listed on the Hong Kong Stock (Chairman) * Public-listed company
Exchange Ltd
@ Appointed on 2 December 2014
* Public-listed companySingapore Press Holdings Summary Report 2015 17
Tan Chin Hwee Tan Yen Yen Lucien Wong Yuen Kuai
Non-Executive and Non-Executive and Non-Executive and
Independent Director Independent Director Independent Director
Date of first appointment as a Date of first appointment as a Date of first appointment as a
director: director: director:
1 March 2014 1 April 2012 15 October 2009
Date of last re-election as a Date of last re-election as a Date of last re-election as a
director: director: director:
2 December 2014 30 November 2012 2 December 2014
Board Committee(s) served on: Board Committee(s) served on: Board Committee(s) served on:
- Audit Committee - Remuneration Committee - Executive Committee
- Board Risk Committee - Board Risk Committee - Remuneration Committee
- Nominating Committee@
Current Directorships/Principal Current Directorships/Principal
Commitments Commitments Current Directorships/Principal
- Apollo Management Singapore - Singapore Science Centre Commitments
Pte. Ltd. (Chairman) - Hap Seng Plantations Holdings
(Director) - Defence Science & Technology Berhad*
- Keppel REIT Management Limited Agency (Director)
(as manager of Keppel REIT*) (Director) - Singapore Airlines Limited*
(Director) - Cap Vista Pte Ltd (Director)
- Lien Aid Limited (Director) - Maritime and Port Authority of
(Director) - Gemalto NV@ Singapore
- KKH Health Endowment Fund (Director) (Chairman)
(Director) - National University of - Temasek Holdings (Private) Limited
- Lighthouse (Mauritius) Ltd Singapore’s School of Computing (Director)
(Director) (Member) - Singapore International
- Mt Sinai Capital Pte. Ltd. - TNF Ventures Arbitration Centre
(Director) (Advisor Mentor) (Chairman)
- Nanyang Technological - Singapore Institute of Directors - Singapore International
University (Director) Mediation Centre Limited
(Trustee) - Ministry of Culture, Community (Director)
- Shanghai Advance Institute of and Youth High Performance - Eastern Development Private
Finance Sports, Performance & Selection Limited
(Advisory Board Member) Committee (Director)
- Shanghai Jiao Tong University (Member) - Eastern Development Holdings
(Advisory Board Member) Pte. Ltd.
- Monetary Authority of Singapore Directorships over the past (Director)
(Finance Centre Advisory Panel) 3 years (1/9/12 - 31/8/15) - Allen & Gledhill LLP
- Singapore Institute of (Chairman and Senior Partner)
Directorships over the past Management International - Singapore Health Services Pte. Ltd.
3 years (1/9/12 - 31/8/15) Academic Panel (Director)
- CFA Singapore (Member) - Singapore Business Federation
(President & Director) - Ministry of Communications (Trustee)
- Panel for Government & Information – Infocomm
Parliamentary Committee for Media Masterplan’s Talent and Directorships over the past
Finance and Trade and Industry Manpower Working Committee 3 years (1/9/12 - 31/8/15)
(Member) (Member) - Linklaters Allen & Gledhill Pte. Ltd.
- Advisory Panel for Volunteer - Ministry of Culture, Community (Director)
Youth Corp, Ministry of and Youth – ASEAN Para Games - Monetary Authority of Singapore
Community, Culture and Youth Steering Committee (Board Member)
(Member) (Member) - Cerebos Pacific Limited*
(Director)
* Public-listed company @ Listed in NYSE Euronext Amsterdam,
and NYSE Euronext Paris @ Appointed on 2 December 2014
* Public-listed company18 Singapore Press Holdings Summary Report 2015 CEO’s Overview of Group Operations Chan Heng Loon, Alan Chief Executive Officer
Singapore Press Holdings Summary Report 2015 19
At the operating level, group recurring
earnings of $353.5 million was $4.5 million
or 1.3 per cent better than FY2014. This was
a creditable achievement.
While total revenue of $1,204.7 million was $26.4 million or 2.1 per cent lower
than FY2014, total operating expenditure declined by a larger $30.9 million or
3.5 per cent year-on-year due to effective cost management.
2015 has been a special year for While total revenue of
Singapore as we celebrated the $1,204.7 million was $26.4 million
Golden Jubilee of the nation’s or 2.1 per cent lower than FY2014,
independence. We also mourned total operating expenditure
the passing of our founding Prime declined by a larger $30.9 million
Minister Lee Kuan Yew on 23 March. or 3.5 per cent year-on-year due
to effective cost management.
It has also been a year marred by
adverse global events - economic Revenue for the core Media business
slowdown, political uncertainty, continued to come under pressure.
terrorism and military conflicts It was lower by $60.9 million or
- all of which contributed to the 6.3 per cent compared to the
challenges confronting the previous year, primarily due to a
media industry. $53.7 million or 7.4 per cent fall in
advertisement revenue.
The Group’s net profit attributable
to shareholders was $321.7 million, Our diversification into the Property
down $82.6 million or 20.4 per cent segment since we bought Paragon
compared to FY2014. But this was in 1997 has yielded good results.
mainly due to a lower fair value gain Property revenue surged by
on investment properties, and the $25.8 million or 12.6 per cent
one-off gain in the previous year boosted by a maiden contribution
from a partial divestment. from The Seletar Mall and higher
rental income from Paragon and
At the operating level, group The Clementi Mall.
recurring earnings of $353.5 million
was $4.5 million or 1.3 per cent Revenue from the Group’s other
better than FY2014. This was a businesses fell $3.0 million or
creditable achievement. 6.4 per cent against FY2014,
as revenue for the exhibitions
business was affected by timing
differences in show dates.20 Singapore Press Holdings Summary Report 2015
CEO’s Overview
of Group Operations
Newspapers of its Facebook, Twitter and Pinterest BT continued to champion business
Our two newspaper divisions offerings. More e-books were excellence with its well-established
were reorganised and renamed launched for ST readers as part of its awards. BT also co-hosted the
from 1 January 2015 to reflect the Star (ST Appreciates Readers) app. 10th ChildAid Concert with ST in
transformation of our newsrooms December 2014. It raised a record
into integrated (print plus digital) There were also many events to $2.33 million for the BT Budding
operations and to promote synergy engage ST’s readers, such as a multi- Artists Fund and ST School Pocket
with our media-related subsidiaries. media exhibition at the ArtScience Money Fund.
Museum in Marina Bay Sands,
The English & Malay Newspapers entitled “Singapore STories: Then, The New Paper (TNP) revamped its
Division was renamed English/ Now, Tomorrow” and a concert by Sunday edition in November 2014,
Malay/Tamil Media group (EMTMG) the Singapore Symphony Orchestra adding new sections. TNP affirmed
while the Chinese Newspapers at the Singapore Botanic Gardens, its position as the number 1 sports
Division was renamed the Chinese under the SPH Gift of Music series. newspaper by securing a partnership
Media group (CMG). with Sports Singapore to become
On 7 August, the Sports Hub the official paper of the SEA Games
The Straits Times (ST), SPH’s English- attracted an audience of 42,000 which returned to Singapore in 2015
language flagship daily founded in people for the Sing50 Concert after a 22-year long hiatus. TNP was
1845, celebrated its 170th anniversary. extravaganza – a two-and-a-half distributed at all event venues
It remained the best-read publication hour pop concert jointly organised and hotels where athletes and
in Singapore with a combined by ST and The Business Times that officials stayed.
print and digital readership of brought together home-grown and
1.34 million, based on the Nielsen international stars and featured Berita Harian (BH), the Group’s
Media Index Report 2014. songs from different genres and Malay-language newspaper,
This translates to a penetration communities. implemented several initiatives
of 32.4 per cent of Singapore’s to streamline its operations and
multilingual population aged 15 IN, ST’s weekly publication for develop new revenue streams.
and older. secondary school students, sold In July 2015, the newspaper launched
1.96 million copies to 70 schools, a new version of its mobile apps and
Readership for the paper’s digital compared with 1.90 million copies e-newsletter. The team also reached
editions grew by 76 per cent last year, a 3 per cent increase. out to pre-school children through
compared to the same period last year. Little Red Dot (LRD), for primary its monthly bilingual magazine
This more than offset a 2.7 percentage school pupils, sold 1.49 million called Cilik Cerdik/Smart Kids.
point drop in its print readership. copies to 124 schools. In addition, The newspaper successfully
there was a special Jubilee edition organised a futsal tournament
On 1 July, ST launched a major which netted 199,000 copies for in June 2015 which attracted
revamp of its products across all its IN and 100,000 copies for LRD. overwhelming response from
platforms, as part of its anniversary participants and sponsors.
celebrations. It also moved to a In a year of market volatility,
metered paywall, which gives The Business Times (BT) maintained BH honoured excellence in the
non-subscribers a limited monthly its total print plus digital circulation community through its Achiever
offering of free articles to read in full at 47,700. In October 2014, of the Year award and Inspiring
and to share on social media. BT relaunched its print and digital Young Achiever Award. This year,
platforms, with a responsive in conjunction with SG50,
ST expanded its digital offerings, website, complemented by it presented Pioneer Achiever
adding a new evening daily email improved apps. BT now caters to Awards to three pioneer
newsletter and expanding the number an increasingly mobile readership generation achievers.
of platforms to include Instagram, and has boosted the value of its
Whatsapp and the Apple Watch, on top All-in-One subscription bundle.22 Singapore Press Holdings Summary Report 2015
CEO’s Overview
of Group Operations
Tamil Murasu (TM) celebrated its November 2014. It is a 3-minute news seven-day state funeral of founding
80th anniversary on 6 July 2015 programme where headline news of Prime Minister Lee Kuan Yew on
with record growth in advertising the day is summed up in two to three 1 August 2015. In conjunction
revenue and profit. It supported a keywords in Chinese. ZB was also with the exhibition, WB published
play called "Murasu", based on the the first Chinese newspaper in Asia to a commemorative booklet, “Those
life of its founder G. Sarangapany, create and launch an app for the Apple Seven Days: Lee Kuan Yew and Us”,
which was well-received by the Watch. The new app, which debuted in which sold over 120,000 copies.
Indian community. TM and tabla!, July 2015, allows Apple Watch users
the weekly English-language to access breaking news from ZB. Since the inception of the
freesheet for the Indian disapora, “Reading with the Elderly”
organised the fourth Singapore CMG and the People’s Association programme a year ago, ZB and WB
Indian International Shopping jointly organised the SG50 Sing-Along extended their community outreach
Festival at Suntec City in September to commemorate Singapore’s Golden to more locations. At the weekly
2014 which coincided with the tabla! Jubilee, graced by Prime Minister gatherings, journalists or trained
Community Champion award. Lee Hsien Loong. It celebrated volunteers, including teachers from
the spirit of Singapore through a CHIJ St Nicholas Girls’ School,
Our flagship Chinese-language daily collective memory of popular local presented senior citizens with news
Lianhe Zaobao (ZB) launched its songs from the 1950s till now. stories from the Chinese newspapers
latest new website, "Z-Politics" (早报 while explaining their significance.
政谈), in August 2015 dedicated It also produced an 8-episode
to the coverage of local political Chinese talk show programme entitled Complementing its "Refuel Towkay!"
news. This followed the launch of its “Ministerial Coffee Talk” that was aired Weekly column on interviews with
Property website, "Z-Property" (早房) on SPH media platforms including businessmen from micro, small and
which made its debut in May 2015, radio and online as well as on StarHub medium enterprises, WB ran a series
and its lifestyle website, "Z-Style", TV in August 2015. The series served of well-attended talks featuring
launched in December 2014. as a prelude to the General Elections professionals from different fields who
and was well-received. shared their personal experience,
The online portal, Zaobao.com, professional insights, market trends
celebrated its 20th anniversary ZB’s student papers – zbComma, and knowledge with readers.
in 2015. To commemorate the Thumbs Up, Thumbs Up Junior,
occasion, it held a series of initiatives Thumbs Up Little Junior – Shin Min Daily News (SM) celebrated
to promote engagement with its organised a broad range of activities Singapore’s Golden Jubilee with
users on its digital platforms. to strengthen engagement with special events to engage its
This culminated in gala dinners students, parents and teachers. 442,000-strong readership.
organised in Singapore and Beijing. New activities introduced this year These included the inaugural "Shin
included the Chinese Nursery Rhyme Min All Wheels Day" and the "Shin Min
On the social media front, ZB grew its Writing Competition, a Chinese Graceful Living Workshop".
presence in Facebook and WeChat. Preschool Teachers’ Seminar and a
Apart from “Zaobao Online” (联合 Student Workshop on Chinese Culture More than 85,000 copies of the
早报网), it launched six informative for P2 to P6 students. It also published "Master Hsing Yun – Words of
WeChat channels in February 2015. a Chinese “O” Level Oral Examination Wisdom" books published by SM have
These six WeChat channels provide guidebook which was well-received been sold to date, making it one of the
readers’ access to lifestyle information by students and teachers. best-selling Chinese book series here.
relevant to their needs covering travel, A pocket book edition of "Master Hsing
education and finance, among others. Lianhe Wanbao (WB) launched Yun – Words of Wisdom 1", released
a travelling pictorial exhibition on 19 August 2015, sold 30,000
ZB started a new online TV news “Memory in Prints: Lee Kuan Yew copies within a week, further testifying
programme “ZB Keywords” (关键词) in and Us” featuring photos of the to the enduring popularity of the series.24 Singapore Press Holdings Summary Report 2015
CEO’s Overview
of Group Operations
Marketing To better connect with our ST and The Sunday Times registered
The newspaper advertising business advertisers, we enhanced our a year-on-year growth of 4.9 per cent
has been facing stiff challenges ad booking network with media to 481,700 daily average circulation
in recent years due to a double agencies, allowing advertisers to copies, with its paid digital edition
whammy of weak economic book ads and run their campaigns ending the year at 177,400 copies, a
conditions and regulatory measures with SPH efficiently. We are also growth of 18.6 per cent. ZB achieved
which have dampened consumer developing online platforms to a year-on-year growth of 2.5 per cent
sentiments. allow readers and small businesses to 187,900 daily average copies,
to place ads directly. This is an with paid digital edition at 39,300
To bring better value to our extension of the current online copies, a growth of 18.0 per cent.
advertisers, the Marketing Division portal which allows readers to book
came up with new print packages obituary notices in ST and BH. ST and ZB published special editions
for our newspapers. This effort led on the life and work of Singapore’s
to increased sales in our regular The Straits Times Classified App founding Prime Minister, Mr Lee Kuan
supplements and events which which was developed in-house Yew, on 23 May 2015. The special
saw double-digit growth. We also enabled readers to search and editions sold more than 150,000
introduced the first 8-page gatefold share advertisements or contact copies each.
advertisement – the result of print the advertisers directly. In July
innovation by our Production team. 2015, this app became the first SPH In order to meet readers’ demand
technology to be awarded a patent for newspaper content, Circulation
The Integrated Sales team provided by the Intellectual Property Office of launched a series of localised
a suite of multimedia platforms for Singapore and was also accorded subscription drives at more than
clients, while Print Classified offered the Best Innovation for Advertising 40 sites, covering public and private
multimedia solutions to smaller Award at the Singapore Business housing. The campaigns generated
advertisers. For example, it helped Review Listed Companies Award. positive response, securing a total
property agents host their ads on of 600 subscriptions.
digital outdoor screens as well as Circulation
on the online property portal of our SPH’s print circulation business The SPH Rewards programme,
subsidiary company SRX. Its new continued to face unrelenting created to reward direct subscribers
Classified pages included more challenges from the popularity of with a broad range of lifestyle
consumer-centric content and bigger digital offerings. With the growing promotions across different
font sizes for easier reading. presence of digital media permeating categories, garnered good response.
the newspaper industry, the Group
SPH’s signature car show - enhanced its own efforts in the digital Amidst the tough retail environment,
the Cars@Expo - grew its revenue space with the aim of boosting its our retail convenience chain
from ads and booth sales from about total print plus digital audience. SPH Buzz maintained its network
$670,000 in 2014 to $1.68 million size of 78 outlets. The complete
in 2015. This success led to an Total newspaper circulation, inclusive roll-out of its Point-of-Sale system
unprecedented second car show that of both print and digital editions, has paved the way for more
will be held in November 2015. ended FY2015 with 1,113,879 promotions and collaborations
daily average copies, a robust with partners. To cater to changing
year-on-year growth of 4.3 per cent, consumer buying habits,
bolstered by increased demand Buzz introduced parcel collection
among readers for our digital products. services for online purchases.You can also read
