Singapore, 8 March 2006 - In response to press queries, Singapore Press Holdings Limited (SPH) issued the following statement:
The planned launch of its free Chinese newspaper on 1 June 2006 will not require significant investments, as SPH will be leveraging on its existing infrastructure and the resources of the Company´s current stable of newspapers.
There will be operational expenses for newsprint and distribution, and some additional costs from hiring more journalists.
However, the launch of this free newspaper is not expected to have a material impact on the earnings and net tangible assets per share of SPH for the financial year ending 31 August 2006.
Issued by Singapore Press Holdings Limited
Co. Regn. No: 198402868E
For more information, please contact :
Mr Arnold Gay
Singapore Press Holdings
Tel: 6319 1216
Fax: 6319 8150
Main board listed Singapore Press Holdings Limited is the leading media company in Singapore, in the print, Internet and broadcasting platforms. It publishes 13 newspapers in the four official languages and more than 80 magazine titles. Everyday, 2.8 million individuals, or 88 per cent of the people above 15 years old, read one of the SPH publications. Its Internet Business Unit manages the online editions of SPH’s major newspapers, which enjoy over 100 million pageviews from 8 million unique visitors every month.
SPH also owns a 20% stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40% stake in MediaCorp Press Pte Ltd, which publishes free sheet Today. SPH has a 70% stake in UnionWorks which operates two entertainment radio channels, UFM 100.3 FM in Chinese and WKRZ 91.3 FM in English, and owns an 80% stake in SPH MediaBoxOffice Pte Ltd, Singapore´s largest LED network media company.