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SPH unveils its annual report for 2019

Singapore, 1 November 2019 - Singapore Press Holdings Limited (SPH) is pleased to unveil its 2019 Annual Report on https://www.sph.com.sg/investor-relations/financial-results/annual-report/

The report outlined SPH's developments in its four pillars of property, media, digital and aged care in the past financial year, and its strategies going forward -

Properties and Asset Management

Property is SPH’s largest profit segment. The company has expanded its Purpose-Built Student Accommodation (PBSA) portfolio to 5,059 beds across 20 assets in 10 cities in the United Kingdom (UK), establishing itself as a leading player in the PBSA sector in the UK.   It will continue to seek international acquisitions to grow the sector.

SPH REIT acquired 85% in Figtree Grove Shopping Centre in December 2018. This mall, which is located 3.7km south-west of central Wollongong, Australia, represents SPH REIT’s first foray overseas and is a strategic fit to the SPH Group’s portfolio of quality assets.

In July, SPH invested approximately US$60 million for a 7.38% stake in the IPO of Prime US REIT, and in August, it exercised its option to acquire a 20% stake in the REIT manager, KBS US Prime Property Management Pte Ltd. Prime US REIT holds a portfolio of Grade A office properties in the US. The investment will add to SPH’s stream of recurring income and provide opportunities to build partnerships in the US market.

Media

SPH will continue to focus on digital innovations to transform its media business.  Digital advertising revenue and circulation remain on the upswing.

While average daily print circulation copies decline 9.6% year-on-year, average daily digital circulation copies grew 32.3% to 279,500 in FY2019. Print and digital circulation copies grew 1.7% to 797,000 despite the continued challenges faced by the media industry.

SPH launched The Straits Times premium subscription packages to meet the reading needs of different subscribers.  It attracted over 23,000 new subscriptions this year, with most new subscribers opting for the higher-value packages.

SPH also partnered with Samsung to introduce its first Chinese News Tablet app to provide a seamless digital experience on the Samsung Galaxy Tab A Wi-Fi tablet.  A total of about 10,000 subscribers have signed up for the package as at mid-October 2019.  The news tablet was subsequently rolled out for Berita Harian readers.

SPH will keep engaging its audiences with quality, creative products and content across multiple platforms to build loyalty.  

Digital Business

SPH will grow its digital portfolio and build synergies with its existing media businesses.

In April, it partnered Keppel Corp to acquire and privatise M1. It will also leverage M1’s mobile platform to improve its digital offerings to customers.

Aged Care

SPH's Orange Valley is one of Singapore’s leading nursing home operators.

SPH will leverage its skills and expertise in this area and capitalise on opportunities in the aged market globally, in line with its internationalisation strategy.  

It recently announced that it has set up a joint venture fund with Bridge C Capital to invest in healthcare and aged care assets such as senior housing, nursing homes and medical office buildings in Japan, where there has been rising demand for elderly care facilities.

Dr Lee Boon Yang, Chairman of SPH, said in his annual report message: "While we aim to be the region’s leading media company, we have, over the years, also made investments in digital initiatives and diversified into new businesses. We will continue on this transformation journey, diversify our business, increase recurring income and deliver sustainable returns to our shareholders."
 
ISSUED BY SINGAPORE PRESS HOLDINGS LTD 
Regn. No. 198402868E 
 
For more information, please contact: 
 
Chin Soo Fang 
Head 
Corporate Communications & CSR 
Singapore Press Holdings Limited 
DID: 6319 1216 

About Singapore Press Holdings

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.  

SPH's core business is publishing of newspapers, magazines and books in both print and digital editions. It also owns other digital products, online classifieds, radio stations and outdoor media.

On the property front, SPH owns approximately 70% in a real estate investment trust called SPH REIT which comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road, The Clementi Mall, a mid-market suburban mall and The Rail Mall, a stretch of shopping and dining outlets along Upper Bukit Timah Road. SPH REIT also holds 85% equity stake in Figtree Grove, a freehold sub-regional shopping centre in Wollongong, New South Wales, Australia. SPH owns and operates The Seletar Mall and is developing a new commercial cum residential site, The Woodleigh Residences and The Woodleigh Mall. It also owns a portfolio of Purpose-Built Student Accommodation (PBSA) in the United Kingdom.

It is in the aged care sector and owns Orange Valley, one of Singapore's largest nursing homes.

SPH runs a regional events arm and a chain of Buzz retail outlets. It also invested in the education business.

 

For more information, please visit www.sph.com.sg.

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