I have blog about this before ( here ) , with below latest released result , I think the re-structuring due to “digital disruption“  is going to be a long and painful process and also the success is very much uncertain for SPH . Quoted below from the CEO on their latest press release : “Having completed our comprehensive business review in October 2016, we are forging ahead with our transformative agenda to strengthen the Group’s position in an increasingly tough economic and media environment. We will focus on continued innovation and investment in the media business to stay ahead and stay relevant, improve cost efficiency with a leaner organisation and wage restraint measures, and grow business adjacencies to diversify revenue streams. “ Well, for those buying during GFC may still sitting with decent paper gain ….but for the rest ,, can this still be considered as “income stocks “ ? ......