Singapore Press Holdings (“SPH”) has released its financial results. Though the dividends payouts-rate is still “decent”, the financial performance of the company is not really very good. The reasons for the “lacklustre” performance are attributable to reductions in contributions from advertising. Two reasons I read from reports that cause the reductions are due to the properties cooling measures introduced by the government and the Malaysia’s episode. The analysis of the financial results gives me some food for thought. It reminds me of how measures in one arena can shape the performances in other arena. If it is true that Chinese tourists and perhaps tourists may want to “shun” Malaysia and perhaps the region including Singapore as a result of Malaysia’s episode, then the tourism industry of Singapore may be “shaped” as a result. This may have a bearing on hospitality stocks like SIA stock, Tiger Airways, Genting Singapore stocks and ......