01 July 2004
Singapore Press Holdings Limited ("SPH") yesterday notified SPH accredited advertising agencies that it would be increasing its display and classified advertising rates for The Straits Times and The Sunday Times newspapers with effect from 1 September 2004.
In the same letter to advertising agencies, SPH said that during the last few years it had been constantly improving the quality and relevance of its newspapers, starting with the major revamp of The Sunday Times and soon, The Straits Times. SPH had also last year completed installing its new $123 million German-made KBA Commander printing machines, which are able to print up to 56 pages in colour back-to-back. Its newspapers, like The Straits Times, can now carry more colour pages and colour advertisements. SPH added that newsprint prices had been rising since last year and are expected to continue through 2004.
For The Straits Times, display advertising rates will rise by five percent. The run-on rate for classified advertising will increase by $1.00 to $11.00 per line. Premiums that advertisers pay for selected positions in the newspaper will also be increased. Advertising rates for The Sunday Times will be aligned with the new weekend rates for The Straits Times.
The increases are not expected to have any material impact on the financial results of SPH in the current financial year ending 31 August 2004.