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Consumer Services

Singapore Press Holdings Ltd.

Company Background

Singapore Press Holdings is the country's largest and most influential newspaper and publishing company. SPH was formed in 1984 through a merger of local newspaper and publishing companies. It publishes nine daily newspapers, ranging from general broadsheet and business daily to evening tabloid and free paper, covering all four of the country's official languages. Although print circulation, including The Straits Times, has been declining, the company has focused on developing online versions of its major papers, and the number of paid subscribers for its online news services is growing. Another pillar of its business is property development. SPH Reit, real estate investment trust with shopping malls under its umbrella, was listed in Singapore in July 2013.

SPH is regulated by the Newspaper and Printing Presses Act. In Singapore, shareholdings of larger than 5% are not allowed without a minister's approval, and none of the company's large shareholders hold more than 2% stakes. Special shares called "management shares," which give holders 200 times more voting power than ordinary shares on the appointment and dismissal of directors or any members of staff, are owned mainly by major Singaporean banks, insurance companies and universities. The Singaporean government has strong ties to SPH's management. Current Chairman Lee Boon Yang held many ministerial posts, and CEO Alan Chan is a former high-ranking civil servant.

Business Summary

Singapore Press Holdings Ltd. engages in the publishing, printing, and distributing of newspapers, magazines, and books. It also provides multimedia content and services, and management services to its subsidiaries. The firm operates through the following segments: Media; Retail & Commercial; PBSA; and Others. The Media segment involves the production of content for distribution on print and other media platforms. The Retail & Commercial segment holds, manages, and develops properties in the retail and residential sectors. The PBSA segment holds, manages and develops properties in the student accommodation sector. The Other segment includes the group’s businesses and investments in online classifieds, events and exhibitions, and the new media fund. The company was founded on August 4, 1984 and is headquartered in Singapore.

Financial Highlights

Aug 2021 SGDUSD
Gross Profit363.52M270.74M
Operating income260.52M194.03M
Income before tax318.33M237.08M
Net income194.38M144.77M
Diluted EPS0.040.03
Dividends Per Share0.060.04
Total Assets8,914.22M6,627.18M
Total liabilities4,089.12M3,040.01M
Total equity3,629.03M2,697.96M
Operating cash flow319.32M237.82M
Currency in SGDCurrency in USD

Historical Data

 Aug 2017Aug 2018Aug 2019Aug 2020Aug 2021
Revenue 1,032.51M 982.55M 959.25M 420.51M 449.92M
Gross Profit 470.07M 451.67M 455.64M 302.19M 363.52M
Operating income 304.97M 283.25M 257.75M 202.42M 260.52M
Income before tax 431.49M 368.89M 298.28M -77.19M 318.33M
Net income 350.08M 278.38M 211.52M -96.21M 194.38M
EBITDA 353.79M 319.59M 293.20M 221.26M 275.73M
Diluted EPS 0.22 0.17 0.13 -0.06 0.04
Dividends Per Share 0.15 0.13 0.12 0.02 0.06
Total Assets 6,110.62M 6,154.20M 7,107.39M 8,849.72M 8,914.22M
Total liabilities 1,887.30M 1,962.77M 2,550.75M 4,350.27M 4,089.12M
Total equity 3,488.39M 3,430.27M 3,488.45M 3,313.52M 3,629.03M
Operating cash flow 305.66M 259.82M 283.81M 161.97M 319.32M
 Aug 2017Aug 2018Aug 2019Aug 2020Aug 2021
Revenue 740.06M 731.94M 701.99M 303.67M 335.09M
Gross Profit 336.93M 336.47M 333.44M 218.22M 270.74M
Operating income 218.59M 211.00M 188.63M 146.17M 194.03M
Income before tax 309.27M 274.80M 218.28M -55.74M 237.08M
Net income 250.92M 207.37M 154.79M -69.47M 144.77M
EBITDA 253.58M 238.07M 214.56M 159.78M 205.36M
Diluted EPS 0.15 0.12 0.09 -0.04 0.03
Dividends Per Share 0.10 0.09 0.08 0.01 0.04
Total Assets 4,499.72M 4,491.95M 5,123.55M 6,509.06M 6,627.18M
Total liabilities 1,389.76M 1,432.63M 1,838.77M 3,199.67M 3,040.01M
Total equity 2,568.77M 2,503.76M 2,514.74M 2,437.12M 2,697.96M
Operating cash flow 219.09M 193.55M 207.69M 116.96M 237.82M

Valuation Measures

Aug 2021
Operating margin57.90%
Profit margin43.20%

Key executives

  • Chief Executive Officer & Executive Director: Yat Chung Ng
  • Group Chief Financial Officer: Hwee Song Chua
  • Chief Technology Officer: Glen Gary Francis
  • Executive Vice President-Corporate Development: Sung Sung Wu
  • Chief Product Officer: Gaurav Sachdeva


  • Dimensional Fund Advisors LP (1.7%)
  • Norges Bank Investment Management (1.5%)
  • Lee Foundation (1.4%)
  • The Vanguard Group, Inc. (1.3%)
  • YONG SIEW YOON (0.3%)
  • Gan Teck Yeow Sdn. Bhd. (0.2%)
  • Great Eastern Life Assurance Co. Ltd. (0.2%)

Contact Details

  • Website:
  • Address: 1000 Toa Payoh North, News Centre, Singapore, 318994, Singapore
  • Phone: +65.6319.6319

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    Last Updated on 19 May, 2022

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