SINGAPORE – Shareholders of Singapore Press Holdings (SPH) have voted overwhelmingly in favour of carving out its media business into a new company limited by guarantee (CLG).
Here is a recap of the recent developments for SPH, which publishes The Straits Times.
Oct 13, 2020: SPH posts its first ever net loss of $83.7 million for the full financial year ended Aug 31 last year, and a loss before taxation of $11.4 million for its media business. This reversed profits seen in the previous financial year.
Oct 14, 2020: Shares of SPH dip below $1 for the first time.
March 30, 2021: SPH announces it is undergoing a strategic review to consider options for its various businesses.
May 6, 2021: SPH says it will restructure its media business in…