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Nikkei Markets

Singapore Press Holdings loses advertisers and investors

Once-mighty media company now gets bulk of earnings from property

SINGAPORE (Nikkei Markets) -- Investor interest in Singapore Press Holdings is set to cool further after the company posted a drop in earnings and cut its dividend once again, underlining its struggle to find direction outside its core business.

Once a sought-after stock due to its substantial dividend, SPH has seen its star fade as advertisers and subscribers moved online and away from traditional newspapers and magazines. While the media operations still account for 60% of SPH's operating revenue, about two-thirds of profit now comes from property.

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