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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 2020 SGDUSD
Gross Profit369.11M266.55M
Operating income214.14M154.64M
Income before tax-88.68M-64.03M
Net income-108.17M-78.11M
Diluted EPS-0.06-0.04
Dividends Per Share0.020.01
Total Assets8,849.72M6,509.06M
Total liabilities4,350.27M3,199.67M
Total equity3,313.52M2,437.12M
Operating cash flow161.97M116.96M
Currency in SGDCurrency in USD

Historical Data

 Aug 2016Aug 2017Aug 2018Aug 2019Aug 2020
Revenue 1,124.34M 1,032.51M 982.55M 959.25M 865.66M
Gross Profit 540.35M 470.07M 451.67M 455.64M 369.11M
Operating income 334.76M 304.97M 283.25M 257.75M 214.14M
Income before tax 368.74M 431.49M 368.89M 298.28M -88.68M
Net income 265.29M 350.08M 278.38M 211.52M -108.17M
EBITDA 390.57M 353.79M 319.59M 293.20M 262.51M
Diluted EPS 0.16 0.22 0.17 0.13 -0.06
Dividends Per Share 0.18 0.15 0.13 0.12 0.02
Total Assets 5,948.03M 6,110.62M 6,154.20M 7,107.39M 8,849.72M
Total liabilities 1,706.62M 1,887.30M 1,962.77M 2,550.75M 4,350.27M
Total equity 3,517.32M 3,488.39M 3,430.27M 3,488.45M 3,313.52M
Operating cash flow 353.84M 305.66M 259.82M 283.81M 161.97M
 Aug 2016Aug 2017Aug 2018Aug 2019Aug 2020
Revenue 811.90M 740.06M 731.94M 701.99M 625.12M
Gross Profit 390.19M 336.93M 336.47M 333.44M 266.55M
Operating income 241.73M 218.59M 211.00M 188.63M 154.64M
Income before tax 266.27M 309.27M 274.80M 218.28M -64.03M
Net income 191.57M 250.92M 207.37M 154.79M -78.11M
EBITDA 282.03M 253.58M 238.07M 214.56M 189.57M
Diluted EPS 0.11 0.15 0.12 0.09 -0.04
Dividends Per Share 0.12 0.10 0.09 0.08 0.01
Total Assets 4,364.40M 4,499.72M 4,491.95M 5,123.55M 6,509.06M
Total liabilities 1,252.24M 1,389.76M 1,432.63M 1,838.77M 3,199.67M
Total equity 2,580.86M 2,568.77M 2,503.76M 2,514.74M 2,437.12M
Operating cash flow 255.51M 219.09M 193.55M 207.69M 116.96M

Valuation Measures

Aug 2020
Operating margin24.73%
Profit margin-12.49%

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
  • Deputy Chief Executive Officer: Anthony Tan


  • The Vanguard Group, Inc. (2.3%)
  • Dimensional Fund Advisors LP (1.7%)
  • Norges Bank Investment Management (1.5%)
  • Lee Foundation (1.4%)
  • BlackRock Fund Advisors (1.1%)
  • Singapore Press Holdings Ltd. (0.5%)
  • Phay Thong Huat Pte Ltd. (0.5%)
  • OEI HONG LEONG (0.4%)

Contact Details

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

Related Companies

  • Sphere Exhibits Malaysia Sdn. Bhd.
  • Singapore Press Holdings Ltd. /The Finder Publications/
  • Focus Publishing Ltd. (Singapore)
  • Straits Ten Pte Ltd.
  • Privilege Southampton Holdings SARL /2 SUBS/
  • Straits Five Pte Ltd.
  • Singapore Press Holdings (Overseas) Ltd.
  • BNM Content Solutions Pte Ltd.
  • HAN Language Centre Pte Ltd.
  • Privilege Sheffield SARL
  • Invest Healthcare Pte Ltd.
  • SPH Buzz Pte Ltd.
  • SPT Net Pte Ltd.
  • Pacom Media Pte Ltd.
  • SI Sdn. Bhd.
  • SPH Ventures Pte Ltd.
  • SPH REIT Management Pte. Ltd.
  • Invest Learning Pte Ltd.
  • CT Point Investments Pte Ltd.
  • SPH Data Services Pte Ltd.
  • Moon Holdings Pte Ltd.
  • SPH Retail Property Management Services Pte Ltd.
  • SGCM Pte Ltd.
  • Business Times
  • 701 SOU (Beijing) Information Technology Co., Ltd.
  • New Beginnings Management Consulting (Shanghai) Co., Ltd.
  • Straits Times Press Pte Ltd.
  • Baiden Barron Smith Ltd.
  • Sphere Exhibits Pte Ltd.


    Last Updated on 22 Oct, 2021

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