Singapore, 15 April, 2009 – Singapore Press Holdings' (SPH) third and newest warehouse was officially opened by SPH Chief Executive Officer Mr Alan Chan this morning.
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Singapore Press Holdings Limited
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About Singapore Press Holdings (SPH)
Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) celebrates its 25th anniversary this year. It is Southeast Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.
Newspapers and Magazines
In Singapore, SPH publishes 17 newspaper titles in four languages. Every day, 2.9 million individuals or 79 per cent of people above 15 years old, read one of SPH's news publications. SPH also publishes and produces more than 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 150 million pageviews with 9 million unique visitors every month. Apart from SPH AsiaOne portal, SPH's online and new media initiatives include an online marketplace for products, services and employment, ST701; local search and directory engine, rednano.sg; Stomp (Straits Times Online Mobile Print), a portal that connects, engages and interacts with readers on the Web and via mobile phone messaging; omy, a bilingual news and interactive portal and The Straits Times RazorTV, a free access interactive webcast service offering live chat shows and video-on-demand clips.
SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40 per cent stake in MediaCorp Press Limited, which publishes the free newspaper, Today. In the radio business, SPH has an 80 per cent 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 out of home (OOH) advertising through its wholly-owned subsidiary, SPH MediaBoxOffice Pte Ltd, Singapore’s largest digital OOH advertising network media company and a 35 per cent 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.
With its eight presslines, the SPH Print Centre at Jurong Port Road is the largest single printing site in Southeast Asia. More than a million copies of newspapers are printed daily. Each day, 2.9 million individuals or 79 per cent of people in Singapore above 15 years old, read one of SPH’s news publications.
Since SPH was formed 25 years ago, the company has increased its total number of newspaper titles to 17. This growing demand for SPH newspapers has resulted in a greater consumption of newsprint.
Before the new warehouse was built, SPH had two others located at the same premises. It also owned another warehouse at Thomson Road, but this later made way for the development of SPH’s upmarket residential condominium, Sky@eleven, in 2006.
With the installation of the $5.5 million warehouse which can hold up to 9,000 metric tons of newsprint, the SPH Print Centre now has three warehouses with a combined storage capacity of 36,000 metric tons, or about four months’ worth of newsprint supply, on site. This makes it possible for SPH to stock its newsprint at an optimal level.
Since there is no longer a need for external storage space to complement the existing warehouses, there will also be substantial savings on rental, transportation and handling costs.
The new warehouse, designed to allow as much natural lighting and ventilation to flow in as possible, eliminated the need for conventional mechanical ventilation ducts. These eco-friendly features will reap additional cost savings in terms of electricity usage and maintenance for SPH.
Said Mr Chan: “Newspapers are the core of SPH’s business. Over the years, the company has consistently improved our suite of newspapers, launched new ones, and invested in our printing capabilities. Our readers and advertisers have come to expect the highest quality for both content and print. At a time when companies are cutting back on investments, SPH is positioning itself for the future."
The full text of Mr Alan Chan’s speech can be found in Appendix A.