I have got some time on my hands and to be honest not many of my stocks are releasing earnings so I might review SPH. The earnings and revenues from the newspaper division was largely flat. The main boost to net profit came from their property rental. Clementi Mall contributed more than this time last year, hence the out performance. The online initiatives look to be barely boosting or making a dent to revenues. As such the tactic for SPH look to be maintain their newspaper and magazine business, get the cash and the market cap to build a property rental business. The question is whether you are comfortable with them bidding the highest price for all the sub urban land parcels and mall locations. To win, you have to bid, but the amount that they now bid as looks desperate or snobbish to say the least.

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