Singapore Press Holdings (SPH)

SPH opts for higher-yielding properties; PREH to report 1QFY2019 loss as cash flow remains in the red
SINGAPORE (May 6): On April 22, Singapore Press Holdings announced it had entered into an agreement to sell its stake in the retail podium and four office strata units (Chinatown Point mall) at the Chinatown Point integrated development in Singapore’s Chinatown. The media behemoth, which is transforming into a property investment company, owns the stake through its 30.68%-held associate, ...
UOB KayHian remains positive as SPH turns to student accommodation to arrest flagging media business
SINGAPORE (Apr 23): Despite continued weakness in its core media business, UOB Kay Hian is staying positive on Singapore Press Holdings (SPH) on the back of its foray into the student accommodation segment. SPH last week announced it has acquired a portfolio of three purpose-built student accommodation (PBSA) assets in the UK for £134 million ($237 million). See: SPH expands UK student ...
SPH expands UK student dorm portfolio with $237 mil acquisition
SINGAPORE (Apr 16): Singapore Press Holdings (SPH) announced that its wholly-owned subsidiaries, Straits Five, Straits Six and Straits Eight, have acquired a portfolio of Purpose-Built Student Accommodation (PBSA) assets in the UK for £133.7 million ($237.0 million). The group purchased the assets from Habitus Holdings, Privilege Holdings, Privilege Southampton Holdings and AIGGRE Europe Real ...
Central banks turn dovish as IMF urges to 'do no harm'
SINGAPORE (Apr 15): Major central banks around the world have maintained a dovish stance, in line with a softer growth outlook by the International Monetary Fund. In its latest World Economic Outlook on April 9, the IMF lowered its growth forecast for 2019 to 3.3%, from 3.5% previously. This is the third time in six months that the fund has trimmed its outlook. The IMF cautioned that ...
Analysts maintain calls on SPH as 2Q results miss expectations
SINGAPORE (Apr 10): Analysts say Singapore Press Holdings’ (SPH) 2Q19 results came in below expectations amid continued weakness in its media business, coupled with the absence of divestment gains from its treasury and investment portfolio. See: SPH posts 26% fall in 2Q earnings to $29.7 mil on lower revenue, higher costs “[SPH’s] media business [is] still not a pretty sight,” says ...
SPH posts 26% fall in 2Q earnings to $29.7 mil on lower revenue, higher costs
SINGAPORE (Apr 9): Singapore Press Holdings (SPH) reported 2Q19 earnings of $29.7 million, down 25.7% from a year ago on lower revenue and higher premises costs and finance costs partly related to the UK student accommodation portfolio. Total revenue fell 5.2% to $227.8 million after operating revenue came in 4.4% lower at $223.3 million as print advertisement revenue declined while other ...
SPH raised to 'buy' by UOB on underappreciated defensive dorm business
SINGAPORE (Apr 3): UOB KayHian is upgrading Singapore Press Holdings (SPH) to “buy” with a 2.5% higher target price to $2.82, to account for the 6% rally of SPH REIT. UOB says the resilient assets in SPH’s portfolio and efforts by the new management to expand its defensive business have been underappreciated. Capital efficiency is improving given the disposal of low-yielding assets ...
Maybank remains 'neutral' on telco sector as uncertainty looms
SINGAPORE (Apr 1): Maybank Kim Eng Research remains “neutral” on the Singapore telco sector amid uncertainty over the implication for competition in the industry with M1’s imminent de-listing. The research house believes StarHub provides the best value and Netlink NBN Trust offers insulation from uncertainty in the wireless segment. Maybank has “buy” calls on both StarHub and ...
Konnectivity owns 94.55% in M1 at close of offer; will go ahead to compulsorily acquire all other shares and delist telco
SINGAPORE (Mar 19): Konnectivity, the offer vehicle jointly owned by Keppel Corporation and Singapore Press Holdings (SPH), and its concert parties have gained a 94.55% stake in M1 at the close of the voluntary unconditional general offer. Konnectivity will therefore go ahead and exercise its rights to compulsorily acquire all the shares of shareholders who have not accepted the offer at the ...
Accept the offer as outlook still looks murky for M1, says OCBC
SINGAPORE (Jan 31): Keppel Corp and Singapore Press Holdings (SPH), through offer vehicle Konnectivity, and together with concert parties and valid acceptances, have amassed a total stake of 34.41% in M1. A total stake of 50% is needed for the offer to turn unconditional. The offeror also announced that it does not intend to increase the offer price of $2.06/share under any circumstances ...