SPH 1st Half '21 119M Operating Profit (16% Increase from last year ). The increase is smaller if we consider more than 6M divestment gain (Buzz), and 3M lesser retrenchment cost therefore lower staff cost. There is also lesser interest cost about 1.6M, and about 700k foreign exchange gain which I am not exactly sure count towards operating profit. However there is a statement which indicate it is from "1(a)(ii) Notes: Profit after taxation is arrived at after accounting for:" which are there misc saving/cost. SPH has net asset of 5.2B after account for 3.5B of borrowing. If we use gear standard to measure gearing, is very roughly 40%. Net Cash equivalent about 959M. Shares Structure As at 28 February 2021, the Company had 1,591,512,137 ordinary shares, 16,361,769 management shares On a fully diluted basis 1st half earning is 5 cents. NTA increase significantly to $2.24 from $2.06 at group level....