What a wonderful development! Singapore Press Holdings ("SPH") finally got the green light from the government to get rid of its loss making media segment. In my last post on the potential restructuring scenarios, I have been hoping for the disposal of its loss making media segment for the longest of time and it finally materialised. But still, I was quite disappointed that SPH need to waste money to appoint Credit Suisse as their "financial advisor" for the restructuring exercise. Is it not obvious that in a commercial business, loss making segment needs to be closed down or sold off instead of allowing it to fester for so many years? The essence of such a corporate restructuring actually lies in going after the various government agency/Ministry to lobby for such a move. The green light for such a daring manoeuvre can only come from the blessing of the Singapore...