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The Straits Times, U, and a 40 Per Cent Stake in Mediacorp Press Limited, the Business Times, the New Paper, Berita Harian, Which Publishes the Free Newspaper, Today

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The Straits Times, U, and a 40 Per Cent Stake in Mediacorp Press Limited, the Business Times, the New Paper, Berita Harian, Which Publishes the Free Newspaper, Today MEDIASCAPE Maintaining Focus in an Evolving Mediascape Annual Report 2016 CONTENTS 01 26 61 70 Corporate Further Information on Daily Average Corporate Profile Board of Directors Newspapers Circulation Information 02 30 62 71 Businesses and Products Senior Financial Sustainability under the SPH Group Management Review Report 14 38 65 76 Organisation CEO’s Overview of Group Value Added Corporate Governance Structure Operations Statement Report 15 50 66 96 Group Financial Significant Investor Risk Highlights Events Relations Management 16 56 68 113 Chairman’s Awards & Investor Financial Statement Accolades Reference Contents 20 60 Board of SPH Newspapers Directors Readership Trends Singapore Press Holdings Annual Report 2016 CORPORATE PROFILE INCORPORATED IN 1984, MAIN BOARD-LISTED SINGAPORE PRESS HOLDINGS LTD (SPH) IS ASIA’S LEADING MEDIA ORGANISATION, ENGAGING MINDS AND ENRICHING LIVES ACROSS MULTIPLE LANGUAGES AND PLATFORMS. Media SPH has a 20 per cent stake in MediaCorp TV Holdings The English/Malay/Tamil Media group comprises Pte Ltd, which operates free-to-air channels 5, 8 and the print and digital operations of The Straits Times, U, and a 40 per cent stake in MediaCorp Press Limited, The Business Times, The New Paper, Berita Harian, which publishes the free newspaper, Today. and their respective student publications. It also includes subsidiaries Tamil Murasu Ltd, which publishes Properties Tamil Murasu and tabla!; book publishing arm Straits SPH REIT is a Singapore-based REIT established to Times Press; SPH Data Services, which licenses the invest in a portfolio of income-producing real estate use of the Straits Times Index in partnership with the primarily for retail purposes. SPH REIT comprises Singapore Exchange and FTSE-Russell Ltd; financial data Paragon, a premier upscale retail mall and medical company ShareInvestor; and the two English stations suite/office property in Orchard Road and The Clementi of SPH Radio – Kiss92 and ONE FM 91.3. Mall, a mid-market suburban mall in the centre of Clementi town. The Chinese Media group publishes three Chinese newspapers in print and digital format – Lianhe Zaobao, The Seletar Mall, located in Sengkang, is SPH’s latest Lianhe Wanbao and Shin Min Daily News; four student retail development. This property is a potential asset weeklies – zbCOMMA, Thumbs Up, Thumbs Up Junior to be injected into SPH REIT. SPH’s wholly-owned and Thumbs Up Little Junior and ZBBZ Newsgazine. subsidiary, Times Development Pte Ltd, also developed It also operates SPH Radio’s Chinese radio station, a 43-storey upmarket residential condominium, UFM100.3, and Focus Publishing, which produces a Sky@eleven, at Thomson Road. range of books and magazines including U-Weekly. Other Businesses SPH’s other new media initiatives include AsiaOne, Stomp, zaobao.sg, zaobao.com and SPH Razor. Online Classifieds SPH’s online classifieds include the leading online On an average day, 2.4 million* individuals or marketplace for jobs (STJobs, FastJobs), property 58 per cent of people above 15 years old, read one (STProperty), cars (STCars) and general classifieds of SPH’s news publications in print copies or one of (STClassifieds, Trezo), sgCarMart and StreetSine. our digital platforms. SPH’s regional joint venture online classifieds SPH Magazines, SPH’s wholly-owned subsidiary, business has a number of leading online classifieds publishes and produces more than 100 magazine titles sites in the region. and has various online sites, like hardwarezone.com, herworldplus.com and luxuryinsider.com in Singapore Events and Exhibitions and the region, covering a broad range of interests Sphere Exhibits, Sphere Conferences, Exhibits Inc from lifestyle to information technology. It has also and Bizlink Exhibition Services organise innovative invested in digital newsstand Magzter. consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region. SPH also provides out-of-home advertising options where it manages large format digital screens and Education static billboards at key locations in the Central Business SPH has a 22 per cent stake in preschool and District, Orchard Road, City Fringe as well as major enrichment provider MindChamps. heartland hubs. For more information, please visit www.sph.com.sg. SPH Buzz is a modern retail convenience chain with a network of stores around the island. * Nielsen Media Index 2015, Monday-Sunday, read any SPH newspapers in print or digital format 01 Singapore Press Holdings Annual Report 2016 BUSINESSES AND PRODUCTS UNDER THE SPH GROUP NEWSPAPERS MAGAZINES Berita Harian 24:7 Singapore Health Berita Minggu Action Asia Singapore Magazine Gen G Always Toyota Singapore Nautilus i3 Ascent The Finder IN Asia-Pacific Boating The Johnnie Walker House Edit Lianhe Wanbao AsiaSpa The Peak Lianhe Zaobao China Boating The Peak Gourmet & Travel Little Red Dot CLEO Singapore The Peak Timepieces Shin Min Daily News Cohort The Singapore Women’s Weekly tabla! Eh! Torque Tamil Murasu Female U-Weekly The Business Times Female Brides Victory Trail The Business Times Weekend Fraser Cachet Wellness No. 1 The New Paper Glam Winning Post The Straits Times Glam Lelaki Young Families The Sunday Times HardwareMAG Young Parents Thumbs Up Harper’s BAZAAR Singapore Young Parents Preschool Guide Thumbs Up Junior Health No. 1 ZBBZ Thumbs Up Little Junior Her World Zaobao Sunday Her World Brides zbCOMMA Home & Decor * SPH has more than 100 magazine titles including contract and licensed titles in ICON the region. For more information, visit www.sphmagazines.com.sg ICON Moments ICON Weddings JET Asia-Pacific LP Luxury Properties Men’s Health Singapore NSMan BOOK PUBLISHING / Nanyou CONTRACT PUBLISHING Nuyou Savour Shape Singapore SilverKris Focus Publishing Simply Her Straits Times Press 02 Singapore Press Holdings Annual Report 2016 INTERNET AND EVENTS AND DIGITAL MEDIA OUT-OF-HOME ADVERTISING 701search.com quotz.com.sg BizLink Exhibition Services asiaone.com razor.tv Buzz Pods beritaharian.sg sgcarmart.com Exhibits Inc btinvest.com.sg shape.com.sg Sphere Conferences businesstimes.com.sg shareinvestor.com Sphere Exhibits chope.com.sg sheshops.com SPHMBO chotot.com simplyher.com.sg cleo.com.sg SPHMBO.com.sg fastjobs.sg srx.com.sg femalemag.com.sg stcars.sg gameaxis.com stjobs.sg PROPERTIES hardwarezone.co.id stomp.com.sg hardwarezone.com.my stpressbooks.com.sg hardwarezone.com.ph stproperty.sg hardwarezone.com.sg straitstimes.com Retail harpersbazaar.com.sg tabla.com.sg SPH REIT herworldplus.com tamilmurasu.com.sg Paragon homeanddecor.com.sg thefinder.com.sg The Clementi Mall homeanddecor.co.id thepeakmagazine.com The Seletar Mall iconsingapore.com.sg tnp.sg kaidee.com torque.com.sg Residential Sky@eleven kiss92.sg towkayzone.com.sg lollipop.sg trezo.sg luxury-insider.com ufm1003.sg menshealth.com.sg wanbao.com.sg mudah.my womensweekly.com.sg BROADCASTING mindchamps.org youngparents.com.sg mycarforum.com zaobao.com nuyou.com.sg (accessible from China and Greater China) olx.co.id zaobao.sg onefm.sg zbcomma.sg SPH Radio ONE FM 91.3 Kiss92 UFM100.3 03 As we continue to diversify our business portfolio and grow our revenue streams, FOCUSED ON we remain focused on being Asia’s leading Media media organisation. In the fast evolving mediascape and digital world, we connect consumers FOCUSED ON to our suite of multi-language and Connectivity multi-platform media products. Our broadcast stations inspire and enliven our listeners day FOCUSED ON and night through captivating Entertainment entertainment. Our malls provide quality shopping experiences through FOCUSED ON a diverse tenant mix and asset Quality enhancement initiatives. Our innovative ideas, events and exhibitions create opportunities for FOCUSED ON businesses to link up with their right Opportunities audiences locally and across the region. Singapore Press Holdings Annual Report 2016 ORGANISATION STRUCTURE BOARD OF DIRECTORS AUDIT COMMITTEE CHIEF EXECUTIVE OFFICER INTERNAL AUDIT DEPUTY CEO DEPUTY CEO INTEGRATED INFORMATION ENGLISH / MALAY CHINESE MEDIA PRODUCTION FINANCE MEDIA MARKETING TECHNOLOGY / TAMIL MEDIA GROUP* STRATEGY & GROUP ANALYTICS DIGITAL LEGAL / CORP SEC CORPORATE CIRCULATION HUMAN ADMINISTRATION /CORP COMMS & DEVELOPMENT RESOURCES CSR / RISK MGT THE STRAITS TIMES / LIANHE ZAOBAO SUNDAY TIMES THE BUSINESS TIMES SHIN MIN DAILY NEWS BERITA HARIAN / MINGGU LIANHE WANBAO THE NEW PAPER CMG DIGITAL DIGITAL PRODUCTION & CULTURE, EDUCATION SUBSCRIBER SUPPORT & NEW GROWTH TAMIL MURASU FOCUS PUBLISHING LTD STRAITS TIMES PRESS PTE LTD SPH RADIO (UFM100.3) SHAREINVESTOR.COM SPH DATA SERVICES PTE LTD SPH RADIO (ONE FM 91.3, KISS92) * The Chinese Media Group structure comes into effect from 1 December 2016 14 Singapore Press Holdings Annual Report 2016 GROUP FINANCIAL HIGHLIGHTS for the financial year ended August 31, 2016 2016 2015 Change S$’000 S$’000 % Operating revenue 1,124,349 1,177,080 (4.5) Operating profit# 305,169 353,500 (13.7) Profit before taxation 361,041 430,245 (16.1) Profit after taxation 306,139 370,422 (17.4) Non-controlling interests (40,846) (48,721) (16.2) Profit attributable to shareholders 265,293 321,701 (17.5) Shareholders' interests 3,517,326 3,618,813 (2.8) Total assets 5,943,888 6,070,042 (2.1) Total liabilities 1,702,484 1,723,392 (1.2) Non-controlling interests 724,078 727,837 (0.5) Dividends declared for the financial year 290,664 322,855 (10.0) Profitability ratios % % % points Operating margin^ 2 7. 1 30.0 (2.9) Return on operating revenue 23.6 27.3 (3.7) Return on shareholders' funds 7. 5 8.9 (1.4) Per share data % Net assets attributable to shareholders (S$) 2.18 2.24 (2.7) Profit attributable to shareholders (S$) 0.16 0.20 (20.0) Dividends declared for the financial year (cents)## 18 20 (10.0) Dividend cover for the financial year (times) 0.9 1.0 (10.0) Value added S$ S$ % Per employee 193,792 201,877 (4.0) Per $ employment costs 2.20 2.28 (3.5) Per $ investment in property, plant and equipment (before depreciation) 0.82 0.87 (5.7) Per $ operating revenue 0.73 0.73 – # This represents the recurring earnings of the media, property and other businesses.
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