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SPH leans on property holdings as media business remains weak: UOB

Samantha Chiew
Samantha Chiew6/13/2018 11:43 AM GMT+08  • 3 min read
SPH leans on property holdings as media business remains weak: UOB
SINGAPORE (June 13): UOB Kay Hian is maintaining its “hold” call on Singapore Press Holdings (SPH) with a higher target price of $2.46.
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SINGAPORE (June 13): UOB Kay Hian is maintaining its “hold” call on Singapore Press Holdings (SPH) with a higher target price of $2.46.

In a Wednesday report, analyst Foo Zhi Wei says, “Based on our page count of SPH’s The Straits Times, total page count was down 12.5% y-o-y in 3Q18.”

By segment, the Recruit, Classifieds and Display ads saw declines of 10%, 15% and 12% respectively. Except for Display ads, the 3Q18 decline represented an improvement from that seen in both the same period last year in 3Q17, as well as 2Q18.

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