5 Quotes from Singapore Press Holdings Limited’s Management Investors Should Know

In mid-November this year, Singapore Press Holdings Limited (SGX: T39) released its annual report for its financial year ended 31 August 2016 (FY2016).

The annual report offered deeper insight on the many facets of SPH’s business. It also covered management’s thoughts on SPH’s performance as well as the company’s future opportunities and challenges.

With these in mind, here’re five quotes investors might not want to miss.

On succession planning

Lee Boon Yang, SPH’s Chairman, wrote this in his annual statement:

“As part of our succession planning, we appointed two Deputy CEOs – Mr Patrick Daniel and Mr Anthony Tan – to help CEO Alan Chan manage SPH’s complex businesses.”

SPH’s business can be considered to be far-reaching and complex. The company’s media empire stretches from newspapers and magazines down to convenience stores and radio stations. That’s one reason for the appointment of two Deputy Chief Executive Officers (CEO).

CEO Alan Chan has also been SPH’s boss since 1 January 2003. As Lee stated, the addition of the two new positions is also for succession planning.

On media troubles

SPH also acknowledges that the traditional media industry is under pressure. Lee said:

“In the face of the challenges facing the media industry, and to enable us to be more nimble to seize opportunities, we will be implementing more measures to keep costs in check and boost efficiencies.”

One key action SPH has undertaken is the consolidation of its media assets such as radio, print, digital, and out-of-home under one marketing umbrella. Lee said:

“To deliver more effective and integrated solutions to our advertisers and business partners, the Group’s sales and marketing functions were revamped with the creation of a new Integrated Marketing Division incorporating print, digital, radio and out-of-home.”

Chan added his own thoughts on this move:

“As part of a corporate-wide exercise, the newspaper sales force underwent a transformation to become the next-generation fully integrated sales team tasked to sell across all our media platforms – newspapers, magazines, digital, radio and out-of-home.”

It is hoped that the consolidation will position SPH as the media company of choice for its partners.

On trying new things

SPH is also dipping its toe into various digital initiatives. Lee shared two, with the first one being GoGoVan, a logistics on-demand service provider.

“In May this year, we invested in GoGoVan, which enables same-day on-demand delivery through a pioneer mobile and web technology. Founded in Hong Kong in 2013.”

Looking through SPH’s annual report gives investors a deeper insight on management team’s thoughts. With that, investors may have a better understanding on the inner workings of the media giant.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong doesn’t own shares in any companies mentioned.