Tag Archives: sph

FORMER JOURNALIST: ROY NGERNG IS A LIAR

CPF interest rates are guaranteed and risk-free. The interest is paid whether or not the Government’s investments backing its liabilities to CPF, including investments managed by GIC, do well or not. So if GIC’s investments actually lose money, as they did during the Global Financial Crisis of 2008-09, CPF members will still get the 2.5% interest on our funds in the Ordinary Account.

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[YOUR LETTERS] We should not support the petition against STOMP

In the name of freedom of speech and internet, STOMP should also not be regulated by MDA and the government because it will signal to them that we are ok with them taking away our right to free speech and the voice of society's conscience. That is why I'm a little surprised that the #FreeMyInternet movement did not say anything to stand up for STOMP when they did issue a statement against the regulation of the Mothership website. I think it is not fair and abit of a hypocrite to support the freedom of one website but not another. We must ensure that all websites are not regulated by the government.

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No More Iron Rice Bowl At SPH

Singapore Press Holdings (SPH) has restructured its operations. According to a Straits Times article, the company said a total of 300 jobs were removed and 70 new ones were added, mostly in the digital arena, with the result of a net reduction to 230 jobs removed. SPH CEO Alan Chan was quoted saying that the company reviewed each staff member on an individual basis and did not take a “blunt, across the board approach”. “But hard decisions had to be taken,” added Chan. He added in a staff memo that with its core print business still facing “headwinds”, the company “must succeed in its transition into the digital space”. Chan also added that the company has created a new organizational structure that “is better aligned with its business aspirations”.

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SPH sees further advertising and circulation decline

Singapore Press Holdings has suffered a 2.9 per cent fall in operating revenue from its newspaper and magazine assets for the first quarter of the financial year. The publisher of the Straits Times, Business Times and The New Paper saw advertising revenue fall by S$5.8m (US$4.6m) and circulation revenue slide by S$2.3m (US$1.8m) as staff costs rose by 2.5 per cent. However, because of increased rental revenue from the group’s property assets, the company’s operating revenue grew by two per cent overall.

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