BANGKOK, SINGAPORE, 20 January 2005 - Traffic Corner Holdings Public Company Limited (“Traffic Corner”) and SPH Magazines Pte Ltd (“SPH Magazines”), a wholly-owned company of Singapore Press Holdings Limited, today announced that they have entered into agreements for SPH Magazines to invest in Traffic Corner and its subsidiary, Traffic Corner Publishing Company Limited (“Traffic Corner Publishing”)
Under the agreements, SPH Magazines will acquire about 49% of Traffic Corner Publishing and about 9% of Traffic Corner.
The total consideration for the investments in Traffic Corner Publishing and Traffic Corner is expected to be approximately THB148.3m (S$6.3 million). The transactions are expected to complete in February 2005 and within the first half of this year respectively, subject to the satisfaction of certain conditions under the agreements.
Traffic Corner Publishing and its subsidiaries publish a range of Thai language periodicals, mainly in lifestyle and entertainment, including Maya Channel, A Day, MTV Trax and Bangkok Today. Traffic Corner is a diversified media group listed on the main board of the Stock Exchange of Thailand. SPH Magazines is the leading magazine publisher in Singapore and publishes more than 60 titles.
Mr David Tay, Chief Executive Officer of SPH Magazines, said: “We have been monitoring the Thai market closely, since our first investment there in 2003. We are excited about the growth potential in Thailand.
“Traffic Corner has a good management team with an entrepreneurial spirit. They have done a commendable job in developing Traffic Corner Publishing to its current status. The investment in Traffic Corner and Traffic Corner Publishing will give SPH Magazines the impetus to benefit from that growth and the partnership will bring Traffic Corner Publishing´s business to the next level.”
Commenting on the investments by SPH Magazines, Mr Suraphong Triamchanchai, Chief Executive Officer of Traffic Corner, said: “We are delighted to welcome SPH Magazines as a shareholder of Traffic Corner and partner in Traffic Corner Publishing. The combination of SPH Magazines´ publishing expertise and Traffic Corner´s local knowledge and experience will be powerful. We look forward to a bright future for Traffic Corner Publishing and Traffic Corner.”
Added Traffic Corner Publishing´s Chief Executive Officer, Mr Siriphong Vongvuttipornchai: “We see many synergies through this partnership with SPH Magazines. Together, we can add value to our existing portfolio to benefit readers and advertisers, as well as further expand our portfolio of titles over time.”
The investments in Traffic Corner Publishing and Traffic Corner represent a further step in strengthening SPH Magazines’ position as a major magazine publisher in the region, following the 2004 acquisition of Blu Inc’s stable of titles, and launches of SPH Magazines´ flagship title “Her World” in Indonesia, Malaysia, China and Thailand.
Mr Arthur Seet, Chairman of SPH Magazines said: “Our strategy to develop SPH Magazines into a leading regional magazines business is taking shape.
“Traffic Corner Publishing is a relatively young company with a good management team. We believe that, with SPH Magazines´ publishing expertise, Traffic Corner Publishing has significant potential. Together with our base in the Singapore market and solid platform in Malaysia, I am excited about the prospects for SPH Magazines.”
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Jointly issued by Traffic Corner Holdings Public Company Limited and SPH Magazines Pte Ltd
For more information, please contact:
Chief Finance Officer
Traffic Corner Holdings
DID: 0 2718 1999 Ext 105
Fax: 0 2718 1444
Singapore Press Holdings
DID: 6319 1216
Fax: 6319 8150
About Traffic Corner Holdings Public Company Limited
Headquartered in Bangkok, Traffic Corner Holdings provides integrated marketing solutions for advertisers through television, radio, publishing and events, and has been in operation for more than 10 years. In television, Traffic Corner Holdings holds the exclusive rights to broadcast “live” English Premier League and German Bundesliga football matches, and also produces top news and finance programs. Traffic Corner Holdings was incorporated on 5 November 2001, and is listed on the Main Board of the
Stock Exchange of Thailand.
About Traffic Corner Publishing Company Limited
Having been in operation for just over a year, Traffic Corner Publishing has rapidly grown to be a leading publisher in Thailand with 8 publications providing current news, and lifestyle and entertainment information. Popular publications in its portfolio include “Bangkok Today”, “A Day”, “A Day Weekly”, “Hamburger”, “Knock Knock”, “Maya Channel”, “Tick A Seat”, and “MTV Trax”.
About SPH Magazines Pte Ltd
SPH Magazines is the leading magazine publisher in Singapore. SPH Magazines publishes 23 titles, which include Her World, Singapore’s No. 1 women’s magazine, Home & Decor, Young Parents, Maxim, Shape and Simply Her. SPH Magazines also publishes custom titles including NSMan for SAFRA National Service Association, ResQ for the Civil Defence Association for National Servicemen, and SilverKris for Singapore Airlines. Blu Inc, a subsidiary of SPH Magazines, publishes another 40 titles which include Female, Nuyou, Torque, Men´s Health, Seventeen and Upload.