I refer to this article: SPH makes foray into healthcare as population ages
Singapore Press Holdings (SPH) just bought over nursing home operator Orange Valley Healthcare for $164 million. The company sees the increasing demand for eldercare services as an attractive long-term business strategy and a source of stable revenues.
This comes in the wake of a disappointing 1.2% dip in net profit.
SPH is now a healthcare provider alongside a property dealer, with property ownship over malls such as Paragon and The Clementi Mall.
The irony is that SPH seems to be doing everything it can to grow its revenue while neglecting its core business in media and journalism. The recent attempt to impose a 15 article limit on non-paying subscribers is a case in point.
Did no one tell them that the key to having a successful online presence is to have a huge readership?
At this rate, the only real media company Singaporeans will have is the state-sponsored Mediacorp.
If the company is not going to put its money into its journalists and grow a backbone to resist Singapore’s conservative censorship laws, they may as well give up being Singapore “Press” Holdings.