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Wikipedia : Ng Yat Chung
- Thread starter UltimaOnline
- Start date
Lol…. This fat fuck kena exposed as a clown. I was searching for YouTube videos on this fucker, couldn’t find much content about him except the latest disastrous SPH press conference. Seems like he managed to keep a low profile and hence masking his clown antics for such a long time when he was at NOL.
This fat fuck should take a knife and fuck himself across the throat.
Place his head in front of his mother's useless cheebye.
Place his head in front of his mother's useless cheebye.
Last edited:
Who is SPH CEO Ng Yat Chung?
He has three Master's degrees.
Zhangxin Zheng |
May 07, 2021, 09:44 AM
Several video snippets from the Singapore Press Holdings' (SPH) press conference on May 6, 2021 featuring its chief executive officer (CEO) Ng Yat Chung taking "umbrage" at a reporter's question sent the internet into a tizzy.
Many memes, illustrations and think pieces have since materialised as a result.
For the uninitiated, you might be wondering who Ng Yat Chung is and here are some facts about him:
1. He was an SAF scholar.
Ng is an alumnus of Victoria School and Hwa Chong Junior College.
He then received a Singapore Armed Forces (SAF) Overseas Scholarship in 1980 and graduated in 1983 with a Bachelor of Arts (Honours) in engineering from Christ's College, Cambridge University.
2. He has three Master's degrees.
Following which, Ng went on to obtain three Master's degrees:
Ng succeeded Lim Chuan Poh as the Chief of Defence Force (CDF) in 2003.
He was the CDF from July 2003 to April 2007, with the rank of Lieutenant-General, before Desmond Kuek took over from him in 2007.
Prior to that, he was the Chief of Army from 2000 to 2003.
"He was given the Meritorious Service Medal (Military) in 2007, among many other public service awards," a Straits Times media release in 2016 wrote.
4. He was a senior executive at Temasek Holdings.
He held different portfolios with Temasek Holdings between 2007 and 2011 after retiring from the military.
He had been the Head of Energy & Resources, Co-Head of Australia & New Zealand & Co-Head of Strategy during these four years in Temasek.
5. He was the former CEO of Neptune Orient Lines (NOL) prior to his role in SPH.
Prior to him joining SPH, Ng was the group president and CEO of Neptune Orient Lines (NOL) from October 2011 to June 2016.
Ng was the CEO for five years and his last four years saw NOL accumulate more than S$1.5 billion in losses, although it has managed to reduce its losses year-on-year.
In mid-2016, NOL was sold to France's CMA CGM, the world's third-largest shipping line and was delisted from the Singapore Exchange in late June that year.
6. He has been the Chief Executive Officer/ Executive Director at SPH since Sep. 1, 2017.
On May 26, 2017, SPH announced Ng as its new CEO, with him to take over the group from Sep. 1 that year.
According to ST, back when SPH made this announcement, its chairman Lee Boon Yang said:
“I am confident that Yat Chung will provide far-sighted and effective leadership for SPH. He will work closely with deputy CEO Anthony Tan and the Group Management Team to tap new ideas and initiatives to steer SPH to greater heights.”
Ng also said that he saw "vast opportunities that can be reaped" despite the challenges ahead and added that he was involved in the SPH's decision to enter healthcare and private nursing home sector with its acquisition of Orange Valley as a board member.
Background
On May 7, 2021, SPH announced that its media business will be transferred to a not-for-profit company.
It said that its operating revenue had halved in the past five years due largely to a decline in print advertising and print subscription revenue.
Further cost measures will impact the company's ability to maintain quality journalism, it added.
SPH said that it recorded its first-ever loss of S$11.4 million for the financial year ended Aug. 31, 2020.
If not for the Jobs Support Scheme (JSS), the loss would have been S$39.5 million.
For the six months ended Feb. 28, 2021, the pre-tax profit loss would have been S$9.7 million, if not for the JSS grant.
SPH said that it approached the Ministry of Communications and Information (MCI) with a restructuring proposal.
In response, MCI said that it supports the proposal put forth by SPH.
You can read more about the QNA segment at the press conference here:
Top image via Wikipedia and via ST's video screen grab
If you like what you read, follow us on Facebook, Instagram, Twitter and Telegram to get the latest updates.
He has three Master's degrees.
Zhangxin Zheng |
May 07, 2021, 09:44 AM
Several video snippets from the Singapore Press Holdings' (SPH) press conference on May 6, 2021 featuring its chief executive officer (CEO) Ng Yat Chung taking "umbrage" at a reporter's question sent the internet into a tizzy.
Many memes, illustrations and think pieces have since materialised as a result.
For the uninitiated, you might be wondering who Ng Yat Chung is and here are some facts about him:
1. He was an SAF scholar.
Ng is an alumnus of Victoria School and Hwa Chong Junior College.
He then received a Singapore Armed Forces (SAF) Overseas Scholarship in 1980 and graduated in 1983 with a Bachelor of Arts (Honours) in engineering from Christ's College, Cambridge University.
2. He has three Master's degrees.
Following which, Ng went on to obtain three Master's degrees:
- Master of Arts (Mathematics) from Cambridge University
- Master of Military Art and Science (General Studies) from Command & General Staff College, USA, and
- Master of Business Administration from Stanford University
Ng succeeded Lim Chuan Poh as the Chief of Defence Force (CDF) in 2003.
He was the CDF from July 2003 to April 2007, with the rank of Lieutenant-General, before Desmond Kuek took over from him in 2007.
Prior to that, he was the Chief of Army from 2000 to 2003.
"He was given the Meritorious Service Medal (Military) in 2007, among many other public service awards," a Straits Times media release in 2016 wrote.
4. He was a senior executive at Temasek Holdings.
He held different portfolios with Temasek Holdings between 2007 and 2011 after retiring from the military.
He had been the Head of Energy & Resources, Co-Head of Australia & New Zealand & Co-Head of Strategy during these four years in Temasek.
5. He was the former CEO of Neptune Orient Lines (NOL) prior to his role in SPH.
Prior to him joining SPH, Ng was the group president and CEO of Neptune Orient Lines (NOL) from October 2011 to June 2016.
Ng was the CEO for five years and his last four years saw NOL accumulate more than S$1.5 billion in losses, although it has managed to reduce its losses year-on-year.
In mid-2016, NOL was sold to France's CMA CGM, the world's third-largest shipping line and was delisted from the Singapore Exchange in late June that year.
6. He has been the Chief Executive Officer/ Executive Director at SPH since Sep. 1, 2017.
On May 26, 2017, SPH announced Ng as its new CEO, with him to take over the group from Sep. 1 that year.
According to ST, back when SPH made this announcement, its chairman Lee Boon Yang said:
“I am confident that Yat Chung will provide far-sighted and effective leadership for SPH. He will work closely with deputy CEO Anthony Tan and the Group Management Team to tap new ideas and initiatives to steer SPH to greater heights.”
Ng also said that he saw "vast opportunities that can be reaped" despite the challenges ahead and added that he was involved in the SPH's decision to enter healthcare and private nursing home sector with its acquisition of Orange Valley as a board member.
Background
On May 7, 2021, SPH announced that its media business will be transferred to a not-for-profit company.
It said that its operating revenue had halved in the past five years due largely to a decline in print advertising and print subscription revenue.
Further cost measures will impact the company's ability to maintain quality journalism, it added.
SPH said that it recorded its first-ever loss of S$11.4 million for the financial year ended Aug. 31, 2020.
If not for the Jobs Support Scheme (JSS), the loss would have been S$39.5 million.
For the six months ended Feb. 28, 2021, the pre-tax profit loss would have been S$9.7 million, if not for the JSS grant.
SPH said that it approached the Ministry of Communications and Information (MCI) with a restructuring proposal.
In response, MCI said that it supports the proposal put forth by SPH.
You can read more about the QNA segment at the press conference here:
Top image via Wikipedia and via ST's video screen grab
If you like what you read, follow us on Facebook, Instagram, Twitter and Telegram to get the latest updates.
Any one knows about Ng performance in the saf? Was he as f up as Pinky?
SPH CEO Ng Yat Chung’s diatribe was at best defensive and at worst, illogical
by Ghui
07/05/2021
in Opinion
Reading Time: 4 mins read
18
The idea that the state-run media in the form of the Singapore Press Holdings (SPH) requires reform is not surprising.
With the advent of social media and dramatic changes in the way people are consuming news in the past decade, the current model in which the SPH operates is not tenable.
Indeed, this is something that SPH CEO Ng Yat Chung (Mr Ng) alluded to at SPH’s annual general meeting on 27 Nov 2020 when he told shareholders that SPH would move forward by growing income from its property business.
However, that said, it is not the restructure that is a surprise, but rather, how it is done and the fashion in which Mr Ng behaved at the press conference announcing the restructure that has raised eyebrows.
For those unaware, SPH said in a statement on Thursday (6 May) that it will be transferring its media business to a non-profit entity in the wake of declining revenue from advertising.
This restructuring exercise will entail transferring the entire media-related businesses of SPH including relevant subsidiaries, relevant employees, News Centre and Print Centre along with their respective leaseholds, as well as all related intellectual property and information technology assets to a newly incorporated wholly-owned subsidiary, SPH Media Holdings Pte Ltd.
SPH will provide the initial resources and funding by capitalising SPH Media with a cash injection of S$80 million, S$30 million worth of SPH shares and SPH REIT units, as well as SPH’s stakes in four of its digital media investments. The transfer will take place at a nominal sum. The not-for-profit entity will be a newly formed public company limited by guarantee CLG. SPH said that it will release more information about the CLG in due course.
Many questions arise as a result of this arrangement and details are still sketchy at the moment. Most presciently, is the issue of funding. While SPH will initially fund the process. Where will future funds come from?
It is likely at this point, that the state will contribute some funds in future which in turn means that it will come from taxpayers. However, do taxpayers want to pay for news that many have commented is a mouthpiece of the ruling Peoples’ Action Party (PAP)?
Singapore regularly features near the bottom of the press freedom index, dropping a further 2 spaces this year to number 160, keeping company with military dictatorships and rogue governments. A clear indication that contrary to what Mr Ng has said, SPH has not done a great job in bringing news to the public.
Will this be an issue that will be debated in Parliament in due course?
Amid these questions, Mr Ng has given a stellar performance in what it means to throw one’s toys out of the pram when things don’t go his way.
When asked if SPH’s editorial discretion will be influenced by funding sources Mr Ng reacted badly, declaring that he took “umbrage” to the question, going so far even as to behave like a pseudo thug, declaring that he was not a “gentleman”.
In a diatribe that was at best defensive and at worst, illogical, Mr Ng did not answer the question beyond insisting that SPH had always provided good quality journalism.
However, in any change to the structure of a company, is this not a very fair and objective question to ask? Much less, to a company that is tasked with bringing news to the nation?
Mr Ng’s childish display is therefore not only unprofessional but more concerning, raises questions as to whether or not SPH has ever had to answer proper public questions in the first place? For a leader in the national media to be unable to withstand valid questions is extremely concerning.
Besides, this is not even a difficult or unexpected question?
If Mr Ng is unable to withstand a very reasonable question such as this, I really wonder how he got to the top job in the first place? This display showcases an utter inability to take any form of pressure.
It also makes me wonder whether he is defensive precisely because the question had hit the nail on the head in the first place.
Netizens have obviously picked up on Mr Ng’s bad behaviour, questioning (on the YouTube video) his inability to answer questions calmly. Some have also raised the issue of funding.
Some have also sarcastically commented on the seeming inability of Mr Ng to see the irony of his behaviour in light of the question.
At the end of the day, SPH has always been criticised as a media outlet that favours the ruling PAP. To be questioned about their journalistic objectivity is therefore a long-delayed question and one that is par for the course.
Is Mr Ng reacting badly because he is defensive because as the saying goes “guilty conscience”?
Share this:
by Ghui
07/05/2021
in Opinion
Reading Time: 4 mins read
18
The idea that the state-run media in the form of the Singapore Press Holdings (SPH) requires reform is not surprising.
With the advent of social media and dramatic changes in the way people are consuming news in the past decade, the current model in which the SPH operates is not tenable.
Indeed, this is something that SPH CEO Ng Yat Chung (Mr Ng) alluded to at SPH’s annual general meeting on 27 Nov 2020 when he told shareholders that SPH would move forward by growing income from its property business.
Given the warning signs, is this restructure that much of a surprise?
However, that said, it is not the restructure that is a surprise, but rather, how it is done and the fashion in which Mr Ng behaved at the press conference announcing the restructure that has raised eyebrows.
For those unaware, SPH said in a statement on Thursday (6 May) that it will be transferring its media business to a non-profit entity in the wake of declining revenue from advertising.
This restructuring exercise will entail transferring the entire media-related businesses of SPH including relevant subsidiaries, relevant employees, News Centre and Print Centre along with their respective leaseholds, as well as all related intellectual property and information technology assets to a newly incorporated wholly-owned subsidiary, SPH Media Holdings Pte Ltd.
SPH will provide the initial resources and funding by capitalising SPH Media with a cash injection of S$80 million, S$30 million worth of SPH shares and SPH REIT units, as well as SPH’s stakes in four of its digital media investments. The transfer will take place at a nominal sum. The not-for-profit entity will be a newly formed public company limited by guarantee CLG. SPH said that it will release more information about the CLG in due course.
Many questions arise as a result of this arrangement and details are still sketchy at the moment. Most presciently, is the issue of funding. While SPH will initially fund the process. Where will future funds come from?
It is likely at this point, that the state will contribute some funds in future which in turn means that it will come from taxpayers. However, do taxpayers want to pay for news that many have commented is a mouthpiece of the ruling Peoples’ Action Party (PAP)?
Singapore regularly features near the bottom of the press freedom index, dropping a further 2 spaces this year to number 160, keeping company with military dictatorships and rogue governments. A clear indication that contrary to what Mr Ng has said, SPH has not done a great job in bringing news to the public.
Will this be an issue that will be debated in Parliament in due course?
Amid these questions, Mr Ng has given a stellar performance in what it means to throw one’s toys out of the pram when things don’t go his way.
When asked if SPH’s editorial discretion will be influenced by funding sources Mr Ng reacted badly, declaring that he took “umbrage” to the question, going so far even as to behave like a pseudo thug, declaring that he was not a “gentleman”.
In a diatribe that was at best defensive and at worst, illogical, Mr Ng did not answer the question beyond insisting that SPH had always provided good quality journalism.
However, in any change to the structure of a company, is this not a very fair and objective question to ask? Much less, to a company that is tasked with bringing news to the nation?
Mr Ng’s childish display is therefore not only unprofessional but more concerning, raises questions as to whether or not SPH has ever had to answer proper public questions in the first place? For a leader in the national media to be unable to withstand valid questions is extremely concerning.
Besides, this is not even a difficult or unexpected question?
If Mr Ng is unable to withstand a very reasonable question such as this, I really wonder how he got to the top job in the first place? This display showcases an utter inability to take any form of pressure.
It also makes me wonder whether he is defensive precisely because the question had hit the nail on the head in the first place.
Netizens have obviously picked up on Mr Ng’s bad behaviour, questioning (on the YouTube video) his inability to answer questions calmly. Some have also raised the issue of funding.
Some have also sarcastically commented on the seeming inability of Mr Ng to see the irony of his behaviour in light of the question.
At the end of the day, SPH has always been criticised as a media outlet that favours the ruling PAP. To be questioned about their journalistic objectivity is therefore a long-delayed question and one that is par for the course.
Is Mr Ng reacting badly because he is defensive because as the saying goes “guilty conscience”?
Share this:
Victoria School wants its students to be a gentleman but alumnus Ng Yat Chung says he’s not
by Correspondent
07/05/2021
in Current Affairs
Reading Time: 3 mins read
43
During a press briefing organised by Singapore Press Holdings (SPH) yesterday (6 May), its CEO Ng Yat Chung became rude at one point, raising his voice in front of a public audience. He particularly took offence to a reporter’s question about SPH’s goal of “editorial integrity”.
He was responding to a question fielded by CNA’s digital journalist who asked if the plans would mean the media business would pivot to emphasize editorial integrity ahead of advertiser interests.
Ng replied, “If I may just interject, I honestly I take umbrage at your first question. There are reporters from here who received substantial funding from various sources, and I don’t believe that you will describe yourself as bowing to the needs of advertisers in doing your job.”
He stressed that SPH publications have always had advertisers and that the company has “never, never conceded” to their needs.
“We will always continue to provide fair, reliable, credible reporting.” Ng added. “The fact that you dare to question SPH titles for, in your words, conceding to advertisers – I take umbrage at your comment.”
“I must call this out. (SPH) Chairman (Lee Boon Yang) is a gentleman. I am not,” a visibly agitated Ng retorted.
Raising his voice in concluding his answer, Ng stated, “The purpose of doing this is to make sure that SPH media will continue to do the job we have done so well for so long.”
Ng studied at Victoria School
Ng studied at Singapore’s Victoria School during his school days. In fact, he was listed in the “League of Extraordinary Victorians” on Victoria School’s website. Under the Military and Police section, he was listed at the top in the section:
Victoria School is the second oldest government secondary school in Singapore. It originated as an English class established in 1876 in Kampong Glam.
The vision of the school is to ensure every Victorian is a “Gentleman, Professional and Sportsman” who makes tangible contributions to his family, work, community and nation.
“The five values of Performance Excellence, Respect, Integrity, Discipline and Empathy reflect what staff and students feel are important to them. We also hope that students have PRIDE in the school and our distinctive heritage, and carry themselves with PRIDE as a Gentleman, Professional and Sportsman,” the school said.
Now that Ng has publicly told the whole Singapore that he is not a gentleman, Ng’s former schoolmates, teachers and principal must have been heartbroken to see how he has failed his alma mater.
On the bright side, he did bag a couple of international accolades – some of them come with comically fancy titles.
Ng was awarded the Knight Grand Cross (1st Class) of The Most Exalted Order of the White Elephant (Thailand) back in 2005 and also the Grand Cordon of the Order of the Precious Tripod (Republic of China) some time later.
by Correspondent
07/05/2021
in Current Affairs
Reading Time: 3 mins read
43
During a press briefing organised by Singapore Press Holdings (SPH) yesterday (6 May), its CEO Ng Yat Chung became rude at one point, raising his voice in front of a public audience. He particularly took offence to a reporter’s question about SPH’s goal of “editorial integrity”.
He was responding to a question fielded by CNA’s digital journalist who asked if the plans would mean the media business would pivot to emphasize editorial integrity ahead of advertiser interests.
Ng replied, “If I may just interject, I honestly I take umbrage at your first question. There are reporters from here who received substantial funding from various sources, and I don’t believe that you will describe yourself as bowing to the needs of advertisers in doing your job.”
He stressed that SPH publications have always had advertisers and that the company has “never, never conceded” to their needs.
“We will always continue to provide fair, reliable, credible reporting.” Ng added. “The fact that you dare to question SPH titles for, in your words, conceding to advertisers – I take umbrage at your comment.”
“I must call this out. (SPH) Chairman (Lee Boon Yang) is a gentleman. I am not,” a visibly agitated Ng retorted.
Raising his voice in concluding his answer, Ng stated, “The purpose of doing this is to make sure that SPH media will continue to do the job we have done so well for so long.”
Ng studied at Victoria School
Ng studied at Singapore’s Victoria School during his school days. In fact, he was listed in the “League of Extraordinary Victorians” on Victoria School’s website. Under the Military and Police section, he was listed at the top in the section:
Victoria School is the second oldest government secondary school in Singapore. It originated as an English class established in 1876 in Kampong Glam.
The vision of the school is to ensure every Victorian is a “Gentleman, Professional and Sportsman” who makes tangible contributions to his family, work, community and nation.
“The five values of Performance Excellence, Respect, Integrity, Discipline and Empathy reflect what staff and students feel are important to them. We also hope that students have PRIDE in the school and our distinctive heritage, and carry themselves with PRIDE as a Gentleman, Professional and Sportsman,” the school said.
Now that Ng has publicly told the whole Singapore that he is not a gentleman, Ng’s former schoolmates, teachers and principal must have been heartbroken to see how he has failed his alma mater.
On the bright side, he did bag a couple of international accolades – some of them come with comically fancy titles.
Ng was awarded the Knight Grand Cross (1st Class) of The Most Exalted Order of the White Elephant (Thailand) back in 2005 and also the Grand Cordon of the Order of the Precious Tripod (Republic of China) some time later.
SPH CEO bristles at questions on SPH publications maintaining editorial independence
by The Online Citizen
06/05/2021
in Media
Reading Time: 5 mins read
68
Left: Ng Yat Chung, SPH CEO, Right: Dr Lee Boon Yang, SPH Chairman and former PAP Minister and MP
Publications under Singapore Press Holdings (SPH) “never pander to the needs of advertisers”, and suggesting that they do is outrageous, considering how other media outlets “receive substantial funding from various sources”, said the company’s chief executive officer Ng Yat Chung.
Mr Ng’s fiery response came after a barrage of follow-up questions from reporters on how titles under SPH would maintain their editorial independence with direct government funding as a possibility, following the announcement of transferring its media business to a non-profit entity in the wake of declining revenue from advertising.
Stressing that he took umbrage at such questions, Mr Ng said — while pointing at the reporters at a press conference on Thursday (6 May) — that their media outlets do not describe themselves as “bowing to the needs of advertisers in doing your job” despite where they receive their funding from.
“(At) SPH, we always have advertising, but never pander to the needs of advertisers… The fact that you dare to question (the editorial independence) of SPH titles… I don’t believe even where you come from, you concede in doing your job,” Mr Ng said.
“I must call this out… Chairman (Lee Boon Yang) is a gentleman. I’m not.”
Following the transfer, SPH will no longer be subject to shareholder and other relevant restrictions under the Newspaper and Printing Presses Act (NPPA).
SPH in its statement today noted that it has approached MCI with a restructuring proposal to put the media business on a long-term sustainable financial footing.
“While such a model may be unfamiliar in Singapore, many news organisations overseas are operating under these funding structures. These include the Guardian in the United Kingdom that has been controlled by the Scott Trust since 1936 and the Tampa Bay Times in the United States that is owned by the non-profit Poynter Institute,” said the company.
According to SPH, Ministry of Communications and Information (MCI) has indicated support for its proposal, adding that the ministry has given its in-principle approval to lift shareholding and other relevant restrictions under the NPPA from SPH when the proposed restructuring is completed.
Prior to Mr Ng’s interjection, SPH chairman Lee Boon Yang said — in response to queries from reporters on how the company’s media business would retain editorial independence — that its media arm aims to serve its audiences objectively, accurately and responsibly.
SPH’s goals to earn public trust and confidence will be “ported over” to the new entity, Dr Lee said.
“This is something that the company limited by guarantee will pay great attention to,” he said.
Dr Lee is a former People’s Action Party Member of Parliament for Jalan Besar GRC and held various portfolios as an officeholder, among them being Defence Minister, Manpower Minister, and the Information, Communications and the Arts Minister.
He served as the Information, Communications and the Arts Minister from 12 May 2003 to 1 Apr 2009.
Singapore Press Holdings to transfer media business to non-profit entity following plummeting advertising revenue
SPH said in a statement on Thursday that it will be transferring its media business to a non-profit entity in the wake of declining revenue from advertising.
The company said that the decision was made as part of its strategic review, which was announced on 30 Mar.
This restructuring exercise will entail transferring the entire media-related businesses of SPH including relevant subsidiaries, relevant employees, News Centre and Print Centre along with their respective leaseholds, as well as all related intellectual property and information technology assets to a newly incorporated wholly-owned subsidiary, SPH Media Holdings Pte Ltd.
SPH will provide the initial resources and funding by capitalising SPH Media with a cash injection of S$80 million, S$30 million worth of SPH shares and SPH REIT units, as well as SPH’s stakes in four of its digital media investments.
The transfer will take place at a nominal sum. The not-for-profit entity will be a newly formed public company limited by guarantee CLG.
SPH said that it will release more information about the CLG in due course.
Operating revenue halved in past five years, primarily due to fall in print advertising and print subscription revenue: SPH
Touching on the reasons behind the restructuring exercise, SPH said that its operating revenue has halved in the past five years due largely to a decline in print advertising and print subscription revenue.
For the six months up to 28 Feb 2021, SPH’s media business had incurred a pre-tax loss of S$9.7 million, excluding the grant from the Jobs Support Scheme.
“With the decline in advertising revenue expected to continue at a similar pace to the last five years, the media business will continue to face severe financial challenges,” SPH said.
Thus, further investment will be needed to strengthen the media business’ digital content creation and product development capabilities in a highly competitive media landscape, the company stressed.
SPH said that it has undertaken strict cost management measures in recent years to mitigate the effect of the declining advertising revenue.
However, further cost cuts to reduce losses may impair the media business’ ability to maintain quality journalism.
“A not-for-profit structure will allow the media business to seek funding from a range of public and private sources with a shared interest in supporting quality journalism and credible information,” said SPH.
Under the proposed restructuring, the media business will gain the resources to focus on transformation efforts and quality journalism, as well as to invest in talent and new technology to strengthen its digital capabilities, the company said.
“This will ensure that the public will continue to benefit from quality information and credible news from trusted media titles and newsrooms, across different platforms and in vernacular languages,” said SPH.
Chairman Lee said, “With the resources that SPH is providing upfront and the prospects for public-private partnership funding going forward, we anticipate that SPH Media will have a more sustainable financial future.”
“It will have the resources to focus on transformation efforts and quality journalism, as well as to invest in talent and new technology to strengthen its digital capabilities. This will ensure that the public will continue to benefit from quality information and credible news from trusted media titles and newsrooms, across different platforms and in vernacular languages,” he added.
“The exercise will give SPH greater financial flexibility to tailor its capital and shareholding structure to seize strategic growth opportunities across the other businesses in order to maximise returns for shareholders,” Dr Lee concluded.
by The Online Citizen
06/05/2021
in Media
Reading Time: 5 mins read
68
Left: Ng Yat Chung, SPH CEO, Right: Dr Lee Boon Yang, SPH Chairman and former PAP Minister and MP
Publications under Singapore Press Holdings (SPH) “never pander to the needs of advertisers”, and suggesting that they do is outrageous, considering how other media outlets “receive substantial funding from various sources”, said the company’s chief executive officer Ng Yat Chung.
Mr Ng’s fiery response came after a barrage of follow-up questions from reporters on how titles under SPH would maintain their editorial independence with direct government funding as a possibility, following the announcement of transferring its media business to a non-profit entity in the wake of declining revenue from advertising.
Stressing that he took umbrage at such questions, Mr Ng said — while pointing at the reporters at a press conference on Thursday (6 May) — that their media outlets do not describe themselves as “bowing to the needs of advertisers in doing your job” despite where they receive their funding from.
“(At) SPH, we always have advertising, but never pander to the needs of advertisers… The fact that you dare to question (the editorial independence) of SPH titles… I don’t believe even where you come from, you concede in doing your job,” Mr Ng said.
“I must call this out… Chairman (Lee Boon Yang) is a gentleman. I’m not.”
Following the transfer, SPH will no longer be subject to shareholder and other relevant restrictions under the Newspaper and Printing Presses Act (NPPA).
SPH in its statement today noted that it has approached MCI with a restructuring proposal to put the media business on a long-term sustainable financial footing.
“While such a model may be unfamiliar in Singapore, many news organisations overseas are operating under these funding structures. These include the Guardian in the United Kingdom that has been controlled by the Scott Trust since 1936 and the Tampa Bay Times in the United States that is owned by the non-profit Poynter Institute,” said the company.
According to SPH, Ministry of Communications and Information (MCI) has indicated support for its proposal, adding that the ministry has given its in-principle approval to lift shareholding and other relevant restrictions under the NPPA from SPH when the proposed restructuring is completed.
Prior to Mr Ng’s interjection, SPH chairman Lee Boon Yang said — in response to queries from reporters on how the company’s media business would retain editorial independence — that its media arm aims to serve its audiences objectively, accurately and responsibly.
SPH’s goals to earn public trust and confidence will be “ported over” to the new entity, Dr Lee said.
“This is something that the company limited by guarantee will pay great attention to,” he said.
Dr Lee is a former People’s Action Party Member of Parliament for Jalan Besar GRC and held various portfolios as an officeholder, among them being Defence Minister, Manpower Minister, and the Information, Communications and the Arts Minister.
He served as the Information, Communications and the Arts Minister from 12 May 2003 to 1 Apr 2009.
Singapore Press Holdings to transfer media business to non-profit entity following plummeting advertising revenue
SPH said in a statement on Thursday that it will be transferring its media business to a non-profit entity in the wake of declining revenue from advertising.
The company said that the decision was made as part of its strategic review, which was announced on 30 Mar.
This restructuring exercise will entail transferring the entire media-related businesses of SPH including relevant subsidiaries, relevant employees, News Centre and Print Centre along with their respective leaseholds, as well as all related intellectual property and information technology assets to a newly incorporated wholly-owned subsidiary, SPH Media Holdings Pte Ltd.
SPH will provide the initial resources and funding by capitalising SPH Media with a cash injection of S$80 million, S$30 million worth of SPH shares and SPH REIT units, as well as SPH’s stakes in four of its digital media investments.
The transfer will take place at a nominal sum. The not-for-profit entity will be a newly formed public company limited by guarantee CLG.
SPH said that it will release more information about the CLG in due course.
Operating revenue halved in past five years, primarily due to fall in print advertising and print subscription revenue: SPH
Touching on the reasons behind the restructuring exercise, SPH said that its operating revenue has halved in the past five years due largely to a decline in print advertising and print subscription revenue.
For the six months up to 28 Feb 2021, SPH’s media business had incurred a pre-tax loss of S$9.7 million, excluding the grant from the Jobs Support Scheme.
“With the decline in advertising revenue expected to continue at a similar pace to the last five years, the media business will continue to face severe financial challenges,” SPH said.
Thus, further investment will be needed to strengthen the media business’ digital content creation and product development capabilities in a highly competitive media landscape, the company stressed.
SPH said that it has undertaken strict cost management measures in recent years to mitigate the effect of the declining advertising revenue.
However, further cost cuts to reduce losses may impair the media business’ ability to maintain quality journalism.
“A not-for-profit structure will allow the media business to seek funding from a range of public and private sources with a shared interest in supporting quality journalism and credible information,” said SPH.
Under the proposed restructuring, the media business will gain the resources to focus on transformation efforts and quality journalism, as well as to invest in talent and new technology to strengthen its digital capabilities, the company said.
“This will ensure that the public will continue to benefit from quality information and credible news from trusted media titles and newsrooms, across different platforms and in vernacular languages,” said SPH.
Chairman Lee said, “With the resources that SPH is providing upfront and the prospects for public-private partnership funding going forward, we anticipate that SPH Media will have a more sustainable financial future.”
“It will have the resources to focus on transformation efforts and quality journalism, as well as to invest in talent and new technology to strengthen its digital capabilities. This will ensure that the public will continue to benefit from quality information and credible news from trusted media titles and newsrooms, across different platforms and in vernacular languages,” he added.
“The exercise will give SPH greater financial flexibility to tailor its capital and shareholding structure to seize strategic growth opportunities across the other businesses in order to maximise returns for shareholders,” Dr Lee concluded.
I heard that he was a nasty asshole officer. Always like to pull rank and talk down to his subordinates. The kind of officer who just NATO and throws his weight around to get things done. Very stressful working under him as cannot screw up.
I hope to see him contesting on the next GE so that PAP lose another GRC
Sounds like most of the army officers
Someone Added ‘Umbrage’ To Ng Yat Chung’s Wikipedia Page, It’s Now His Unofficial Nickname
His Wikipedia page has since been updated.
Ng Yat Chung’s Wikipedia Page Had ‘Umbrage’ In His Name After Viral Press Conference
Wikipedia is known for its encyclopedic coverage of anything and everything. That is due in part to being open-source for anyone to edit and write entries.
But with that level of freedom, it also becomes a perfect setting for some mischief.
Hours after SPH CEO Ng Yat Chung took umbrage at questions directed to him during a press conference, his Wikipedia page was updated with his newly coined nickname.
Image courtesy of an MS News reader
Ng Yat Chung introduces Singapore to ‘umbrage’
Mr Ng’s charged response to a journalist’s question on 6 May shot the word ‘umbrage’ to the top of Google Singapore search trends.
An anonymous opportunist took this chance to update Ng Yat Chung’s Wikipedia page and made the relationship between 2021’s hottest word and the SPH CEO ‘official’.
However, his page has recently undergone another update, with the nickname now gone.
Fortunately, nothing truly disappears from the Internet. An MS News reader managed to capture screenshots before the post reverted to the original.
Before the update, a search for ‘Ng Yat Chung’ on Google would fetch you his Wikipedia page, which would’ve immediately shown his new nickname.
Image courtesy of an MS News reader
Bolded in all its glory, the word ‘umbrage’ sits proudly after his name on the first line of the Wiki entry.
Whoever edited the page seemed to have a field day, as they decorated Mr Ng’s profile with 1 more special accolade.
Image courtesy of an MS News reader
Now, besides his impressive CV and alma maters, he’s also the lone winner of the ‘2021 Umbrage Awards’.
Singapore Internet as savage as ever
Aside from his impressive vocabulary, Mr Ng’s general conduct at the press conference came as a shock to many.
But let’s not be too quick to dismiss him. After all, he introduced a new word for a lot of Singaporeans to add to our vocabulary.
If you ever have the opportunity to meet the man himself, we’d suggest erring on the safe side and avoid calling him by his new nickname.
Have news you must share? Get in touch with us via email at [email protected].
Featured image adapted from Wikipedia and Reddit.
His Wikipedia page has since been updated.
Ng Yat Chung’s Wikipedia Page Had ‘Umbrage’ In His Name After Viral Press Conference
Wikipedia is known for its encyclopedic coverage of anything and everything. That is due in part to being open-source for anyone to edit and write entries.
But with that level of freedom, it also becomes a perfect setting for some mischief.
Hours after SPH CEO Ng Yat Chung took umbrage at questions directed to him during a press conference, his Wikipedia page was updated with his newly coined nickname.
Image courtesy of an MS News reader
Ng Yat Chung introduces Singapore to ‘umbrage’
Mr Ng’s charged response to a journalist’s question on 6 May shot the word ‘umbrage’ to the top of Google Singapore search trends.
An anonymous opportunist took this chance to update Ng Yat Chung’s Wikipedia page and made the relationship between 2021’s hottest word and the SPH CEO ‘official’.
However, his page has recently undergone another update, with the nickname now gone.
Fortunately, nothing truly disappears from the Internet. An MS News reader managed to capture screenshots before the post reverted to the original.
Before the update, a search for ‘Ng Yat Chung’ on Google would fetch you his Wikipedia page, which would’ve immediately shown his new nickname.
Image courtesy of an MS News reader
Bolded in all its glory, the word ‘umbrage’ sits proudly after his name on the first line of the Wiki entry.
Whoever edited the page seemed to have a field day, as they decorated Mr Ng’s profile with 1 more special accolade.
Image courtesy of an MS News reader
Now, besides his impressive CV and alma maters, he’s also the lone winner of the ‘2021 Umbrage Awards’.
Singapore Internet as savage as ever
Aside from his impressive vocabulary, Mr Ng’s general conduct at the press conference came as a shock to many.
But let’s not be too quick to dismiss him. After all, he introduced a new word for a lot of Singaporeans to add to our vocabulary.
If you ever have the opportunity to meet the man himself, we’d suggest erring on the safe side and avoid calling him by his new nickname.
Have news you must share? Get in touch with us via email at [email protected].
Featured image adapted from Wikipedia and Reddit.
- TAGS
10 SPH CEO Ng Yat Chung Facts To Know So He Won’t Take Umbrage If You Don’t
The SPH CEO was once in the army for 28 years.
Ng Yat Chung Was From Hwa Chong JC & Was An Ex-SAF Lieutenant General
Following Singapore Press Holdings’ (SPH) shift to a nonprofit business model, questions ensued regarding its sources of funding and editorial independence.
Raising these concerns during a press conference on 6 May, a journalist from Channel NewsAsia (CNA) got a response that shook us all.
Perhaps taken aback by her questions, Chief Executive Officer (CEO) of SPH, Mr Ng Yat Chung, promptly exclaimed that he took umbrage at her questions.
The response sent the term ‘umbrage’ to the No.1 most searched item on Google Singapore.
Turns out, Mr Ng was saying that he felt offended by the questions.
Fast skyrocketing to fame on the Internet, here are other things to know about the ex-Lieutenant-General, beyond his liberal usage of the now popular word.
1. A Victoria School & Hwa Chong JC alumnus
Born in Singapore with the Chinese name 伍逸松, Mr Ng attended Victoria School — an all boys’ secondary school back in 1974.
He then went on to Hwa Chong Junior College for his pre-university education in 1978.
The latter school has come under the spotlight recently, but thankfully, Mr Ng didn’t announce his alma mater to the world.
2. Received SAF Overseas Scholarship
Having received the prestigious Singapore Armed Forces Overseas Scholarship (SAFOS) in 1980, he got the chance to pursue his tertiary education overseas.
The SAFOS is second in prestige only to the President’s Scholarship, and provides for the highest levels of command in the SAF.
That also marked the start of his bond to a career in the army.
3. Has 4 degrees from 3 different schools
Mr Ng Yat Chung appears to have quite an impressive educational background, with a Bachelor of Arts and 3 Master’s degrees:
4. Served in the SAF for 28 years
If you’re wondering where he may have harnessed his stern demeanour and thunderous voice, well, the man had a military career spanning 28 years.
He was the Chief of Army in the Singapore Armed Forces (SAF) for 3 years. Thereafter, he became the Chief of Defence Force – aka head of SAF – in 2003.
Back in the golden days, Mr Ng went by the rank Lieutenant-General (LG).
We don’t know how long it’s been since anyone called him that, but perhaps he was channelling that Lieutenant-General energy at the Q&A.
5. Held a senior management position at Temasek Holdings
After exiting the army, the ex-LG did a 5-year tour in Temasek Holdings, a company owned by the Government of Singapore.
He held various positions there, including that of a senior managing director.
By now, you’d probably be impressed by his leadership portfolio. But wait, the man’s not done yet.
6. Was CEO of shipping giant NOL
In 2011, Mr Ng became the CEO of Neptune Orient Lines (NOL), a home-grown shipping giant.
However, it later appeared that he was figuratively operating a sinking ship — the company allegedly incurred US$1.5 billion in losses during its last 4 years.
Guess you could say that the then-CEO was struggling to keep the firm afloat.
7. Homegrown business sold off under his leadership
Unfortunately, attempts to salvage NOL couldn’t last, and the homegrown carrier had to be sold off to France’s CMA CGM.
Thankfully, the French firm was later able to turn the situation around.
The group recorded a net profit of US$26 million in Q1 2017, right after the sale.
8. Oversaw development of NUS University Town
Despite not going to any local university, Mr Ng sits on the Board of Trustees at the National University of Singapore (NUS).
In fact, he also received an Outstanding Service Award from the institution in 2013.
Apparently, he made significant contributions to the development of NUS facilities, especially that of the iconic University Town.
Now, UTown is a rather popular chillout spot, and we hope other facilities on campus don’t take umbrage at that fact.
9. CEO of SPH since 2017
NUS’ Honour Roll wasn’t the only roll Mr Ng was on, as he continued to ascend to prominent leadership positions.
Since 1 Sep 2017, he has been the CEO of SPH after Mr Alan Chan Heng Loon stepped down.
At the time of the handover, SPH Chairman Lee Boon Yang expressed his confidence “that [Ng would] provide far-sighted and effective leadership for SPH.”
Fast forward over 3 years later, and we wonder what his take is today.
10. SPH cut 230 jobs under his leadership
SPH’s massive retrenchment process in 2017 shortly after didn’t set Mr Ng off to a good start.
Cutting around 230 jobs by year-end, the move apparently came when profits from the newspaper business continued to shrink.
The job reduction was allegedly a part of ‘restructuring‘ to adapt to the digital age.
Ng Yat Chung facts to satisfy your curiosity
Mr Ng’s response to the journalist’s concerns evidently came as a shock to many.
But let’s not allow this one moment to define him, as he’s much more than that.
Now that you know his background, perhaps you’ll know what to say if you ever strike up a conversation with him, so he won’t take umbrage if you don’t.
Have news you must share? Get in touch with us via email at [email protected].
Featured image adapted from YouTube and Wikipedia.
The SPH CEO was once in the army for 28 years.
Ng Yat Chung Was From Hwa Chong JC & Was An Ex-SAF Lieutenant General
Following Singapore Press Holdings’ (SPH) shift to a nonprofit business model, questions ensued regarding its sources of funding and editorial independence.
Raising these concerns during a press conference on 6 May, a journalist from Channel NewsAsia (CNA) got a response that shook us all.
Perhaps taken aback by her questions, Chief Executive Officer (CEO) of SPH, Mr Ng Yat Chung, promptly exclaimed that he took umbrage at her questions.
The response sent the term ‘umbrage’ to the No.1 most searched item on Google Singapore.
Turns out, Mr Ng was saying that he felt offended by the questions.
Fast skyrocketing to fame on the Internet, here are other things to know about the ex-Lieutenant-General, beyond his liberal usage of the now popular word.
1. A Victoria School & Hwa Chong JC alumnus
Born in Singapore with the Chinese name 伍逸松, Mr Ng attended Victoria School — an all boys’ secondary school back in 1974.
He then went on to Hwa Chong Junior College for his pre-university education in 1978.
The latter school has come under the spotlight recently, but thankfully, Mr Ng didn’t announce his alma mater to the world.
2. Received SAF Overseas Scholarship
Having received the prestigious Singapore Armed Forces Overseas Scholarship (SAFOS) in 1980, he got the chance to pursue his tertiary education overseas.
The SAFOS is second in prestige only to the President’s Scholarship, and provides for the highest levels of command in the SAF.
That also marked the start of his bond to a career in the army.
3. Has 4 degrees from 3 different schools
Mr Ng Yat Chung appears to have quite an impressive educational background, with a Bachelor of Arts and 3 Master’s degrees:
- Bachelor of Arts (Honours) in Engineering
- Master of Arts in Mathematics from Christ’s College, Cambridge
- Master of Business Administration from Stanford University
- Master of Military Art and Science from the United States Army Command and General Staff College
4. Served in the SAF for 28 years
If you’re wondering where he may have harnessed his stern demeanour and thunderous voice, well, the man had a military career spanning 28 years.
He was the Chief of Army in the Singapore Armed Forces (SAF) for 3 years. Thereafter, he became the Chief of Defence Force – aka head of SAF – in 2003.
Back in the golden days, Mr Ng went by the rank Lieutenant-General (LG).
We don’t know how long it’s been since anyone called him that, but perhaps he was channelling that Lieutenant-General energy at the Q&A.
5. Held a senior management position at Temasek Holdings
After exiting the army, the ex-LG did a 5-year tour in Temasek Holdings, a company owned by the Government of Singapore.
He held various positions there, including that of a senior managing director.
By now, you’d probably be impressed by his leadership portfolio. But wait, the man’s not done yet.
6. Was CEO of shipping giant NOL
In 2011, Mr Ng became the CEO of Neptune Orient Lines (NOL), a home-grown shipping giant.
However, it later appeared that he was figuratively operating a sinking ship — the company allegedly incurred US$1.5 billion in losses during its last 4 years.
Guess you could say that the then-CEO was struggling to keep the firm afloat.
7. Homegrown business sold off under his leadership
Unfortunately, attempts to salvage NOL couldn’t last, and the homegrown carrier had to be sold off to France’s CMA CGM.
Thankfully, the French firm was later able to turn the situation around.
The group recorded a net profit of US$26 million in Q1 2017, right after the sale.
8. Oversaw development of NUS University Town
Despite not going to any local university, Mr Ng sits on the Board of Trustees at the National University of Singapore (NUS).
In fact, he also received an Outstanding Service Award from the institution in 2013.
Apparently, he made significant contributions to the development of NUS facilities, especially that of the iconic University Town.
Now, UTown is a rather popular chillout spot, and we hope other facilities on campus don’t take umbrage at that fact.
9. CEO of SPH since 2017
NUS’ Honour Roll wasn’t the only roll Mr Ng was on, as he continued to ascend to prominent leadership positions.
Since 1 Sep 2017, he has been the CEO of SPH after Mr Alan Chan Heng Loon stepped down.
At the time of the handover, SPH Chairman Lee Boon Yang expressed his confidence “that [Ng would] provide far-sighted and effective leadership for SPH.”
Fast forward over 3 years later, and we wonder what his take is today.
10. SPH cut 230 jobs under his leadership
SPH’s massive retrenchment process in 2017 shortly after didn’t set Mr Ng off to a good start.
Cutting around 230 jobs by year-end, the move apparently came when profits from the newspaper business continued to shrink.
The job reduction was allegedly a part of ‘restructuring‘ to adapt to the digital age.
Ng Yat Chung facts to satisfy your curiosity
Mr Ng’s response to the journalist’s concerns evidently came as a shock to many.
But let’s not allow this one moment to define him, as he’s much more than that.
Now that you know his background, perhaps you’ll know what to say if you ever strike up a conversation with him, so he won’t take umbrage if you don’t.
Have news you must share? Get in touch with us via email at [email protected].
Featured image adapted from YouTube and Wikipedia.
- TAGS
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