SINGAPORE, 7 April 2008 – SPH Interactive International Pte Ltd (SPH II) has entered into a joint venture with Star Publications (Malaysia) Bhd (the Star) for the provision of digital media services in Malaysia.
SPH II is a fully-owned subsidiary of Singapore’s foremost media company Singapore Press Holdings Limited (SPH), and Star Publications (Malaysia) Bhd is better known as the publisher of The Star, Malaysia’s most widely-read English daily.
The joint venture is called "701Panduan Sdn Bhd". In Malay or Bahasa Melayu, "Panduan" means to provide direction or guidance, which is what the company sets out to do, by helping the public find what they need on new media platforms. SPH II and the Star will each own 50% of the company.
The signing was done this morning at the headquarters of Star Publications (Malaysia) Bhd, Menara Star, which is situated in Petaling Jaya, Kuala Lumpur, Malaysia.
Signing of joint venture 701 Panduan Sdb Bhd between Star Publications (M) Bhd and SPH Interactive International Pte Ltd.
Left to right: Chief Operating Officer of The Star Datin Linda Ngiam, Chief Executive Officer of The Star Datuk Steven Tan, Chief Executive Officer of SPH Mr Alan Chan, and Director of SPH II Mr Leslie Fong.
Signing on behalf of SPH was one of SPH II’s directors, Mr Leslie Fong, who is also SPH’s Senior Executive Vice President of Marketing. Representing the Star was their Chief Operating Officer Datin Linda Ngiam. SPH Chief Executive Officer Mr Alan Chan and Chief Executive Officer of the Star Datuk Steven Tan were also present to witness the signing.
Mr Fong said: "Malaysia has one of the highest Internet penetration rates in Southeast Asia. More than half of its 28 million people enjoy ready access to the Internet. In absolute numbers, this is more than Singapore’s entire population. Together with the country’s growing economy, these make investing in the online business an attractive proposition."
"Furthermore, SPH has found a very good partner in The Star. As Malaysia’s leading English-language newspaper, it is a strong brand name. With its intimate understanding of the Malaysian business environment and its well established network of readers and advertisers, it will have much to contribute to the success of our joint venture," added Mr Fong.
Datin Linda Ngiam said: "SPH, through its various research initiatives, has developed what we feel is the right methodology to create a platform that can connect local businesses with local users in the most effective and relevant way."
"The Star has spent more than 12 years establishing a leadership position in the Malaysian Internet scene. We are happy to enter into this partnership with SPH, which will take our online and new media properties to the next level," she added.
Issued by Singapore Press Holdings Limited
Co. Regn. No: 198402868E
For more information, please contact:
Chin Soo Fang (Ms)
DID: 6319 1216
DID: 6319 2261
Mobile: 9798 6097
About SPH Interactive International
SPH II is a new media company specializing in the provision of digital media services for the Asia Pacific region. The Company provides relevant content, advertising and technology solutions for consumers, advertisers and publishers.
SPH II is a wholly-owned subsidiary of Singapore Press Holdings Ltd (SPH), the leading media company in Singapore. SPH is listed on the main board of the Singapore Stock Exchange.
About Singapore Press Holdings
Newspapers and Magazines
Main board-listed Singapore Press Holdings Ltd (SPH) is the leading media company in Singapore, delivering news and information through print, Internet and broadcasting platforms. In Singapore, it publishes 14 newspapers in four languages. Every day, 2.9 million individuals or 81 percent of people above 15 years old, read one of SPH’s news publications. SPH also publishes and produces over 100 magazine titles in Singapore and the region, covering a broad range of interests from lifestyle to information technology.
Internet and Mobile
Beyond print, the Internet editions of SPH newspapers enjoy over 110 million pageviews with 7 million unique visitors every month. Apart from SPH AsiaOne portal, SPH’s online and new media initiatives include a revolutionary mobile advertising and information service, ZapCode; online marketplace for products, services and employment, ST701; and STOMP (Straits Times Online Mobile Print), a portal that connects, engages and interacts with readers on the Web and via mobile phone messaging.
SPH has a 20 percent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40 percent stake in MediaCorp Press Pte Ltd, which publishes the free newspaper, Today. In the radio business, SPH has a 80 percent stake in SPH UnionWorks Pte Ltd, which operates entertainment stations Radio 100.3 FM in Mandarin and Radio 91.3 FM in English.
In addition, SPH has ventured into outdoor advertising through its wholly-owned subsidiary, SPH MediaBoxOffice Pte Ltd, Singapore’s largest outdoor motion display advertising network media company, and a 35 percent stake in TOM Outdoor Media Group, a leading outdoor advertising company in China.
SPH owns and manages Paragon, the prime retail and office complex in the heart of Orchard Road, Singapore’s main shopping belt. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, is also developing a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road.