Singapore Press Holdings annual report 2011 BUILDING ON OUR STRENGTHS Singapore Press Holdings Limited 1000 Toa Payoh North News Centre Singapore 318994 www.sph.com.sg Singapore Press Holdings Co. Reg. No. 198402868E annual report 2011 Corporate PROFILE Singapore Press Holdings (SPH) is Southeast Asia’s with NTUC Media. Both channels leverage on the brand leading media organisation, engaging minds and enriching name and resources of our print newsrooms, giving them lives across multiple languages and platforms. that unique edge. We publish 18 newspaper titles in four languages and SPH has a 20 per cent stake in MediaCorp TV Holdings Pte more than 100 periodicals. Every day, 3 million individuals, Ltd, which operates free-to-air channels 5, 8, and Channel or 77 per cent of people above 15 years old, read one U, and a 40 per cent stake in MediaCorp Press Ltd, of our publications. The online editions of our main which publishes the free newspaper, Today. newspapers enjoy over 265 million page views with 18 million unique visitors every month. SPH’s events subsidiary Sphere Exhibits organises innovative consumer and trade events and exhibitions. Our success is built on the long history and rich heritage SPH MediaBoxOffice Pte Ltd (SPHMBO) is the leading Digital of our two flagship newspapers – The Straits Times, Out-of-Home advertising company in Singapore. Its digital the English-language daily and Lianhe Zaobao, the Chinese- network comprises eight large outdoor LED screens at strategic language daily. The other two dailies, Berita Harian and locations (e.g. Orchard Road, Raffles Place, etc.) and more Tamil Murasu, remain the staple for the Malay-speaking than 450 plasma and LCD screens in shopping centres, and Tamil-speaking communities respectively. These four banks, and petrol stations island-wide. It also operates large- major newspapers, together with The New Paper and format billboards, banners and other static media platforms. The Business Times, also provide online news to SPH’s SPHMBO also has a dedicated team of professionals that Internet portal, AsiaOne. SPH has also launched The offers customised event management services to advertisers. Straits Times’ iPad and enhanced iPhone applications and The Business Times Weekend’s iPad application. On the property front, SPH owns and manages Paragon, the prime retail and office complex in the heart of Orchard Apart from AsiaOne, SPH’s online and new media initiatives Road, Singapore’s main shopping belt. SPH’s wholly- include an online marketplace for products, services and owned subsidiary, Times Development Pte Ltd, has also employment, ST701; Stomp (Straits Times Online Mobile developed a 43-storey upmarket residential condominium, Print), a portal that connects, engages and interacts with Sky@eleven, at Thomson Road. The Clementi Mall, readers on the Web and via mobile phone messaging; SPH’s latest retail mall, was opened in 2011. omy.sg, a bilingual news and interactive portal and The Straits Times RazorTV, a free access interactive webcast As an industry leader, SPH is an active corporate citizen service offering live chat shows and video-on-demand clips. and supports various community and charity causes, ranging from education, arts and culture, wildlife conservation We also operate two popular radio channels, 91.3 FM and sports. It has won many awards and accolades for its in English and Radio 100.3 in Mandarin, under an 80 per extensive corporate social responsibility efforts. cent-owned joint venture company, SPH UnionWorks, More information can be found on www.sph.com.sg This annual report was produced by the Corporate Communications Division Special thanks to our models: Ng Tze Yong Social Media Editor The Straits Times Natasha Chiam Beauty Writer Female Jennani Durai Journalist The Straits Times Azhar Kasman Deputy Editor Stomp OUR MISSION To Inform, Educate & Entertain SPH BRAND ESSENCE Engaging Minds, Enriching Lives SPH BRAND STATEMENT To be Southeast Asia’s Leading Media Organisation, Engaging Minds and Enriching Lives Across Multiple Languages and Platforms CONTENTS 10 23 52 72 Group at Corporate Employee Financial a Glance Information Commentary Review 11 24 54 75 Group Financial Senior Awards & Value added Highlights Management Accolades Statement 12 30 58 76 Organisation CEO’s Overview of Corporate Investor Structure Group Operations Governance Relations 13 40 69 78 Businesses and Products Significant Risk Investor Under the SPH Group Events Management Reference 14 44 70 81 Chairman’s Corporate Social SPH Newspapers Financial Statement Responsibility Readership Trends Contents 18 51 71 Board of Environmental Daily Average Directors Sustainability Newspapers Circulation from strength to STRENGTH Our strong stable of newspapers in different languages gives our readers access to a rich collage of news and events all in a single snapshot. As our capabilities evolve, our conviction to deliver to our readers timely news reporting parallels our desire to leverage thought leadership to enrich their global perspectives. STRENGTH in depth Our decades of experience has given us the impetus to build a rich and diverse selection of magazine titles that encapsulates our dedication to deliver high-quality editorial content. Today, this vibrant and eclectic mix of publications inspires a broad spectrum of lifestyle interests for our readers. STRENGTH through connectivity With the Internet significantly altering the media landscape, our unwavering focus to provide our readers with immediate access to rich online multimedia content is equally paced by our commitment to put the world right at their fingertips. STRENGTH in mobility Transcending locales and even borders, we take pride in our ability to transform our news and information platforms into mobile media solutions. Concurrently, we are creatively innovating our offerings to help our readers stay in touch in this digital era. 10 Singapore Press Holdings annual report 2011 11 Group at A GLANCE NEWSPAPERS MAGAZINES INTERNET AND NEW MEDIA With print as its core business, SPH Magazines publishes over 100 SPH’s online editions of its key SPH publishes 18 newspaper titles magazine titles in Singapore and newspapers enjoy over 265 million in four languages. Every day, 3 the region, covering a broad range page views with 18 million unique million individuals or 77 per cent of interests from fashion, bridal, visitors every month. SPH has also of people above 15 years old, read society, automobiles, parenting, expanded into other new media initiatives one of SPH’s news publications. décor and information technology. such as online marketplace for products, With more than 1,000 journalists, It also provides custom publishing services and employment, ST701; including correspondents operating services covering lifestyle magazines Stomp (Straits Times Online Mobile in 20 cities around the world, SPH and newsletters. It strives to bring its Print), a portal that connects, engages is well-equipped with the talent and titles to regional markets and affirm and interacts with readers on the network to deliver quality news and its position as the publisher of choice Web and via mobile phone messaging; information that covers both domestic in the region. It also owns popular omy.sg, a bilingual news and interactive and international markets. portals like www.hardwarezone.com, portal and The Straits Times RazorTV, and herworld.com. a free access interactive webcast service offering live chat shows and video on demand clips. SPH has also launched The Straits Times’ iPad and enhanced iPhone applications and The Business Times Weekend’s iPad application. BROADCASTING EVENTS AND OUTDOOR MEDIA PROPERTIES SPH has a 20 per cent stake in SPH’s events subsidiary Sphere SPH owns and manages Paragon, MediaCorp TV Holdings Pte Ltd, Exhibits organises innovative the prime retail and office complex which operates free-to-air channels consumer and trade events and in the heart of Orchard Road, 5, 8, and Channel U, and a 40 per exhibitions. SPH MediaBoxOffice Pte Singapore’s main shopping belt. cent stake in MediaCorp Press Ltd, Ltd is the leading Digital Out-of-Home It houses some of the world’s leading which publishes the free newspaper, advertising company in Singapore. luxury brands. SPH’s wholly-owned Today. It also operates two popular Its digital network comprises eight subsidiary, Times Development Pte radio channels, 91.3 FM in English and large outdoor LED screens at strategic Ltd, has also developed a 43-storey Radio 100.3 in Mandarin, under an 80 locations (e.g. Orchard Road, Raffles upmarket residential condominium, per cent-owned joint venture company, Place, etc.) and more than 450 plasma Sky@eleven, at Thomson Road. SPH UnionWorks, with NTUC Media. and LCD screens in shopping centres, The Clementi Mall, SPH’s latest banks, and petrol stations island- retail mall, was opened in 2011. wide. It also operates large-format billboards, banners and other static media platforms. SPHMBO also has a dedicated team of professionals that offers customised event management services to advertisers. 10 Singapore Press Holdings annual report 2011 11 Group financial HIGHLIGHTS for the financial year ended August 31, 2011 2011 2010 Change S$’000 S$’000 % Operating revenue 1,250,972 1,381,071 (9.4) Operating profit# 409,038 539,103 (24.1) Profit before taxation 456,682 589,892 (22.6) Profit after taxation 383,751 509,488 (24.7) Non-controlling interests 4,824 (11,614) NM Profit attributable to shareholders 388,575 497,874 (22.0) Shareholders’ interests