The signs were already present for years.
But it was probably the pandemic that finally pushed Singapore Press Holdings (SGX: T39), or SPH, to announce a major restructuring of its media business.
Around a month ago, SPH had disclosed that it was undertaking a strategic review of its media business with a view to “unlock and maximise long-term shareholder value”.
The company’s media business had been suffering from a steady decline in advertising revenue over many years, with the division reporting a pre-tax loss of S$9.7 million for fiscal 2021’s first half (1H2021) excluding the effects of the government’s Jobs Support Scheme.
By shedding its trademark media division, SPH is transforming itself into a property and asset management firm.
Here are five things you should know about SPH’s latest announcement.
