Serious SPH Revenue Collapse Again!

[quidnunc]

https://www.straitstimes.com/singap...utm_medium=share&utm_term=2020-04-23+22:24:53

SPH deputy chief executive Anthony Tan said yesterday, "With the extension of the circuit breaker, SPH hopes to make your days brighter with entertaining and engaging content that you can enjoy as we all do our part to stay home, and stay safe."

SERIOUSLY? Cannot make it. Took a quick look at it. Unexciting content. Far from entertaining, let alone engaging. If this is all Anthony Tan and his team can do, good luck to SPH. He might as well close the shop.

 

[laksaboy]

SPH deputy chief executive Anthony Tan said yesterday, "With the extension of the circuit breaker, SPH hopes to make your days brighter with entertaining and engaging content that you can enjoy as we all do our part to stay home, and stay safe."

Ah ha ha ha!

 

[garlic]

My auntie say: "看第八坡道，浪费电啦！“

 

[laksaboy]

My auntie say: "看第八坡道，浪费电啦！“

I caught a glimpse of that stupid Chinese variety show on Channel 8 that they put up to entertain Sinkie peasants. I found it highly amusing that the dancers around the singer were wearing masks while monkeying around on stage.

 

[quidnunc]

https://www.straitstimes.com/busine...utm_medium=share&utm_term=2020-04-26+10:40:47

NYC does not sound convincing in its defense of SPH's financial position. The company is in more debts than it has ever been in its history, thanks to investments in old aged homes in Japan, dormitories in the UK and retail malls in Australia in recent years. If cashflow is indeed not a problem, then it should graciously forgo the $45m of government relief and let other more needy businesses benefit from it.

Truth is its core media business has been plummeting. Ad and circulation revenue of print newspaper and magazines is the worst performer, taking a big hit from digital disruptions long before Covid-19.

The key persons appointed to reverse the media freefall, namely Anthony Tan, Dy CEO and Ignatius Low, CCO, are novices in the media business. Insider sources say both are bereft of ideas, made wasteful expenditures such as installing a carousel (yes, a merry go round like those in fair grounds!) right in the middle of the office, and lack people management skills. (The carousel has since been removed due to employee pressure and the lack of fire safety licence.)

The company struggles to come up with new digital online products that can compete with the Google and FB of this world. Its 5 radio stations are all making losses. If digitalisation ignited the decline of the Company, the pandemic will surely put the final nail in its coffin.

 

[quidnunc]

https://www.channelnewsasia.com/new...nce-store-chain-buzz-for-undisclosed-12680588

Another one bites the dust. Much investments had been poured into building the network. Rental of space, construction and renovation costs, branding and marketing, vending machines, store improvements like digital payments, digital advertising screens, etc. Sold for "undisclosed amount" means at steep discounts and at a loss. That's the story of SPH.

 

[birdie69]

Ah ha ha ha!

I rather watch netflix

 

[quidnunc]

https://www.straitstimes.com/busine...utm_medium=share&utm_term=2020-05-04+19:38:08

A company in decline, at first slowly, now picking up pace. From pulling back investments to selling buzz retail outlets at a loss to closing down magazines ...

 

[Xisiqomelir]

NYC does not sound convincing in its defense of SPH's financial position. The company is in more debts than it has ever been in its history, thanks to investments in old aged homes in Japan, dormitories in the UK and retail malls in Australia in recent years.

Why the fuark is a media company going 101% demsick "alternative" investments with their money?

Shouldn't they be hiring some AMDK editor from the Atlantic or New Yorker to try and boost their 158th rating?

 

[hofmann]

Why the fuark is a media company going 101% demsick "alternative" investments with their money?

Shouldn't they be hiring some AMDK editor from the Atlantic or New Yorker to try and boost their 158th rating?

just like the chip goodyear saga, no self respecting AMDK will want to touch that position with a 10 foot pole.

 

[laksaboy]

Why the fuark is a media company going 101% demsick "alternative" investments with their money?

Shouldn't they be hiring some AMDK editor from the Atlantic or New Yorker to try and boost their 158th rating?

They are not journalists, but state-owned presstitutes and propagandists.

A 'private company' wouldn't have some SAF general suddenly parachuted in as its CEO.

And because they're not journalists, they wear the 158th ranking as a badge of honour.

That said, in their deluded hubris they do love to pretend to be journalists, and think of themselves as champions of journalism and truth.

Just look at these clowns:

https://www.straitstimes.com/singap...al-role-with-rise-of-fake-news-says-st-editor

 

[quidnunc]

just like the chip goodyear saga, no self respecting AMDK will want to touch that position with a 10 foot pole.

The PAP will never trust an angmoh to run SPH. Lyn Holloway was the last western CEO to helm ST but for a year, resigning citing health reasons.

Since then, it's been a series of civil servants parachuted in to run the place. NYC could be on his way out this year as his 5 year contract is due. His DY, Anthony Tan, is dying to fill the post after being overlooked for the job. There are adverse reports about his abrasive behaviour and style that it seems even outgoing CEO Alan Chan didn't give him a good report. Hence, had to settle for second.

 

[batman1]

Need to give Fatty BG Ng Yat Chung a raise

 

[hofmann]

The PAP will never trust an angmoh to run SPH. Lyn Holloway was the last western CEO to helm ST but for a year, resigning citing health reasons.

Since then, it's been a series of civil servants parachuted in to run the place. NYC could be on his way out this year as his 5 year contract is due. His DY, Anthony Tan, is dying to fill the post after being overlooked for the job. There are adverse reports about his abrasive behaviour and style that it seems even outgoing CEO Alan Chan didn't give him a good report. Hence, had to settle for second.

Thanks for the fun fact. Didn't know about Lyn H.

"Among the many changes he oversaw was the formation of Singapore Press Holdings (SPH) in 1984, through the merger of three organisations - the Singapore News and Publications Limited, Times Publishing Berhad and The Straits Times Press. It brought together the flagship newspapers of various languages under one roof.

After the merger, Mr Holloway was appointed SPH's first CEO, but resigned a year later, citing health reasons. He later became chief executive of Hong Kong's South China Morning Post."

Miraculous recovery in HK

 

[A Singaporean]

Start to manufacture toilet paper can make more money.

 

[quidnunc]

https://www.straitstimes.com/singap...utm_medium=share&utm_term=2020-05-22+00:12:29

Orange Valley was purchased by current SPH management 3 years ago. The move spearheaded by its Dy CEO Anthony Tan, formerly DS of MOH. It seemed a great move at that time as there was a shortage of old aged homes.

Fast forward to last year, SPH had to declare about $20m write off in goodwill from this acquisition as valuation has dropped due to lowered revenue and earning forecasts and more old aged homes entering the space.

It shows again the lateral thinking of those in charge behind this poor decision.

 

[spotter542]

Hope to see the propaganda mouthpiece of PAP collapse soon
Cannot parachute Paper Generals and jiak liao bee into ParLEEment anymore

 

[birdie69]

Hope to see the propaganda mouthpiece of PAP collapse soon
Cannot parachute Paper Generals and jiak liao bee into ParLEEment anymore

SPH means Singaporean Permanent Headache