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investshare Supreme	12-May-2021 13:28        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is my point, Sph cannot sell, because the regulations is no substantial owners can own it. So fundamentally the media business since Day1 has ZERO resale value, it is only good if it generate profits. BillionX      ( Date: 12-May-2021 13:22) Posted: No one is questioning the ?wisdom ? of the proposal. It is the question of compensation for the value of the media business and the millions shareholders have to fund the new entity. The proper way should be for SPH to sell at arms length the media business to the new entity . A fair price between willing buyer and seller. The management has failed in its management of the media business and now shareholders are asked to bear the burden!
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BillionX Senior	12-May-2021 13:22        BillionX About Contact  Quote this Post!
x 0   x 0  Alert Admin	No one is questioning the ?wisdom ? of the proposal. It is the question of compensation for the value of the media business and the millions shareholders have to fund the new entity. The proper way should be for SPH to sell at arms length the media business to the new entity . A fair price between willing buyer and seller. The management has failed in its management of the media business and now shareholders are asked to bear the burden!
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investshare Supreme	12-May-2021 13:02        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	That is the government side of story to justify pumping in tax payers money. For SPH side, the truth is it cannot just shut it down. So without this restructuring, it will stuck with the media business and pay for its losses. Da3da3      ( Date: 12-May-2021 11:58) Posted: If you?ve been following the rhetoric, they can?t shut it down as Singapore needs its own newspaper media that is aware of Singapore?s particular interests and unique position. While I agree with that, I feel they should find a better way to spin off the business. UltraBoy      ( Date: 11-May-2021 17:12) Posted: Agreed. But does not mean we have to further fund the new entity. SPH can close down the media division if they don' t turn around. SPH can save further losses.
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Newlearner Veteran	12-May-2021 12:15        Newlearner About Contact  Quote this Post!
x 0   x 0  Alert Admin	I?m under the impression that the transfer of assets to CLG will go through.
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Goldfinger Supreme	12-May-2021 12:09        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	There is NO Wisdom in making minority shareholders foot the bill and throw good money after bad - to foot the bill for what is essentially a public good.  This is horrifying and they better be prepared to face a nasty defeat at the EGM.
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Da3da3 Member	12-May-2021 11:58        Da3da3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If you?ve been following the rhetoric, they can?t shut it down as Singapore needs its own newspaper media that is aware of Singapore?s particular interests and unique position. While I agree with that, I feel they should find a better way to spin off the business. UltraBoy      ( Date: 11-May-2021 17:12) Posted: Agreed. But does not mean we have to further fund the new entity. SPH can close down the media division if they don' t turn around. SPH can save further losses.  investshare      ( Date: 11-May-2021 10:47) Posted: Hi BillionX and UltraBoy, Sph cannot sell away its media biz because of government rule that no substantial owner. In other words these asset in the first place should have zero value on Sph book. I would blame previous CEO for not making this clear. While I do not like Umbrage Ng style, he is right in this sense.
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investshare Supreme	12-May-2021 11:48        investshare About Contact  Quote this Post!
x 2   x 0  Alert Admin	Hope you guys see my points now. investshare      ( Date: 10-May-2021 20:06) Posted: Guys, put aside emotion, I think through this deal: 1. SPH media business is not a business or asset that it can dispose off as the rule is it cannot have substantial shareholders. This is fact since day 1. 2. Due to (1), this business is only meaningful to sph and shareholders if it generate profit and cash flow. 3. Due to 1 and 2, when it does not make money, Sph only have 2 choices, (a) part with it peacefully to an entity without substantial shareholders like what they propose now, (b) liquidate it and recover whatever remaining value. 4. I am initially favor for 3.b, to liquidate it. But after reading many comments against government support even for current deal, I realise that sph has moral obligation not to do so, as it has enjoyed monopoly for so long. 5. As such I would now support this deal. 6. The real problem here is (2), sph media should not appear on SPH asset in the first place. Another key point many missed so far is that, without the media business, SPH now can allow substantial shareholders, meaning big fund could come it. Let us see if I am right. Welcome your input.
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kcowen Member	11-May-2021 23:07        kcowen About Contact  Quote this Post!
x 0   x 0  Alert Admin	i think soon SPH will change their full name to SPH instead of Singapore press holding as no press anymore
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investshare Supreme	11-May-2021 18:39        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think the market start to appreciate the wisdom behind the deal.
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UltraBoy Member	11-May-2021 17:12        UltraBoy About Contact  Quote this Post!
x 0   x 0  Alert Admin	Agreed. But does not mean we have to further fund the new entity. SPH can close down the media division if they don' t turn around. SPH can save further losses.  investshare      ( Date: 11-May-2021 10:47) Posted: Hi BillionX and UltraBoy, Sph cannot sell away its media biz because of government rule that no substantial owner. In other words these asset in the first place should have zero value on Sph book. I would blame previous CEO for not making this clear. While I do not like Umbrage Ng style, he is right in this sense.
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FATABA Supreme	11-May-2021 14:11        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Bro the candid answer .. when u take up an IPO , u bear yr own responsibility of what u invest in .  Over decades , for those who remain w SPH are rewarded w dividends as shareholders .  Shares go bankrupt , sold whatever can happen.  Media business has evolved and change over the years. Whatever small revenue cannot continue to pay those dividends and expectation of shareholders and going down the road , it is going to be WORST not better ( as a company w shareholders)  so for longer term it is best to cut this out on its own as a CLG....as to the fairness ...its always an endless debate for any companies when this happened.  As to your "   SPH has no other businesses/assets other than its media business would you still hold this view and agree to transferring it to a new entity?"   yes I guess we ( singapore ) would still have to move in this direction ...like UK, Aus etc ......the direction is clear ...its ONLY the option and way of doing it difer  Just my view .  Currently I strongly agree the bitterness and emotion on shareholders side are high . Which I can totally understand too.  Good luck    BillionX      ( Date: 11-May-2021 13:52) Posted: Hi investshare. We can all be magnanimous and accept the media business as sacrosanct. We who participated in the SPH IPO would not have anticipated this development. We stood by the company through thick and thin. The media business model may not be as profitable today but it still generates an income stream. Surely to arbitrarily take it off SPH without compensation is not fair to shareholders. And to transfer millions to the new entity adds insult to injury. Lets assume for a moment that SPH has no other businesses/assets other than its media business would you still hold this view and agree to transferring it to a new entity?
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zillion Master	11-May-2021 13:54        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	Khaw not Koh Sgvale      ( Date: 11-May-2021 12:35) Posted: If Koh Boon Wan is trusted to turn around SPH media. Why not SPH retain its media section & engage KBW to helm the fort ? Why hived off?
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BillionX Senior	11-May-2021 13:52        BillionX About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi investshare. We can all be magnanimous and accept the media business as sacrosanct. We who participated in the SPH IPO would not have anticipated this development. We stood by the company through thick and thin. The media business model may not be as profitable today but it still generates an income stream. Surely to arbitrarily take it off SPH without compensation is not fair to shareholders. And to transfer millions to the new entity adds insult to injury. Lets assume for a moment that SPH has no other businesses/assets other than its media business would you still hold this view and agree to transferring it to a new entity?
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investshare Supreme	11-May-2021 13:22        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is made possible with the non profit entity as they can now seek funding from government and others. Sgvale      ( Date: 11-May-2021 12:35) Posted: If Koh Boon Wan is trusted to turn around SPH media. Why not SPH retain its media section & engage KBW to helm the fort ? Why hived off?
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Sgvale Supreme	11-May-2021 12:35        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	If Koh Boon Wan is trusted to turn around SPH media. Why not SPH retain its media section & engage KBW to helm the fort ? Why hived off?
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investshare Supreme	11-May-2021 10:47        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi BillionX and UltraBoy, Sph cannot sell away its media biz because of government rule that no substantial owner. In other words these asset in the first place should have zero value on Sph book. I would blame previous CEO for not making this clear. While I do not like Umbrage Ng style, he is right in this sense.
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BillionX Senior	11-May-2021 10:07        BillionX About Contact  Quote this Post!
x 1   x 0  Alert Admin	Stealing from Peter to pay Paul. Why should shareholders bear the burden of this exercise. By all means take the media business out of SPH. Compensate the shareholders by way of a special dividend or shares. I am sure there are a better way to go about this.
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UltraBoy Member	11-May-2021 09:26        UltraBoy About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sell off the media to the government. Worst case scenerio, let it closed down. SPH should be able to save more money than given away millions.
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investshare Supreme	11-May-2021 06:36        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks for your input. Your proposal include relying on online advertisements, which I believe will not work long term. If you have use Google Adsense you know what I mean. In online space, advertising companies would love the flexibility and effectiveness of Google ads, SPH is and will always lose out. It also cannot afford to invest the engine for such advertisements platform. TezzSay      ( Date: 10-May-2021 22:16) Posted: What wisdom is there ?  How much is the 2 building worth +110 million ? We can digitalize the newspaper , free online and just earn from advertising. Don' t keep doing over the top things like news when reader just wants to read . CNA already doing a good job. Giving away hundreds of millions are the sore point for investor. People who run the company ever think of how hard it is for small investor to lose their saving ? Blue Chip become......
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TezzSay Member	10-May-2021 22:16        TezzSay About Contact  Quote this Post!
x 0   x 0  Alert Admin	What wisdom is there ?  How much is the 2 building worth +110 million ? We can digitalize the newspaper , free online and just earn from advertising. Don' t keep doing over the top things like news when reader just wants to read . CNA already doing a good job. Giving away hundreds of millions are the sore point for investor. People who run the company ever think of how hard it is for small investor to lose their saving ? Blue Chip become......
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