Serious SPH Revenue Collapse Again!

[batman1]

Another good job well done by BG !
Pride of PAP

 

[laksaboy]

The problem will persist because the present management is run by people who had zero experience of
real commercial organisations, beyond the GLCs, which the govt classify as "private sector" - like the way
the palmed OYK to Keppel Corp after his Aljunied misadventure. Throw a stone in Singapore, and it will
hit an incompetent CEO who is more likely than not, to used to be in uniform.

SPH in particular have, in their middle levels, totally incompetent people as well (some nearing 70 years)
but manage to keep their jobs because their bosses know even less.

They make half hearted forays into all sorts of businesses but get suckered. Got suckered into buying
Shareinvestor and got burnt by overpaying many multiples. Tried re-inventing themselves into all styles
of marketing management to entice advertisers - only to revert back to old business models.

The solution: scrap or heavily restrict the SAF scholarship. And Mindef top brass are to be more or less a lifetime employment, not unlike the Vatican Pope.

 

[Confuseous]

The current SAF scholarship originated when NS first started in 1966 - to address the old Chinese adage that "good boys do not
join army". This was a boon to the lower household families with clever children but cannot afford higher education. To manage
the initial batch, PAP offered them top paying jobs in GLCs - the last thing they need is a bunch of disgruntled generals hanging
around coffee shops and bitching. This "life-after" top military jobs also provided the marketing fodder to keep top talent in,
providing evidence that they will be looked after. Except that over the years, these guys come from the more affluent families.

 

[laksaboy]

Except that over the years, these guys come from the more affluent families.

Many are affluent, but few are connected.

For example, Teo Chee Hean.

 

[batman1]

Red Dot is ruled by military govt.

 

[A Singaporean]

You cannot make money by selling fake news.

 

[quidnunc]

SPH dabbles in real estate too.

Current management thinks real estate is the solution. Have gone into malls, old age homes and student dorms. Paid lip service to "digital first" strategy for media business. No real strategy or have made sound investments. Dy CEO well known for spending time and resources signing MOUs with Samsung, Starhub, etc cos he's former civil servant. None of the MOUs have produced any results. The Chief Commercial Officer is a former journalist who has zero knowledge of running a business, let alone media business. On one hand, he has retrenched and removed experienced employees to cut costs, on the other, he has replaced them with expensive new hires. He has made strange decisions like approving the installation of a full sized carousel inside his office costing 5 figure! When asked for the reason, he replied visitors to the office will find it "instagrammable"!

 

[quidnunc]

https://www.businesstimes.com.sg/co...ll-in-q1-net-profit-on-lower-print-ad-revenue

What the report did not say is the increased revenue from digital ads hardly made up for the 20% drop in print ad revenue over just one quarter.

Same story for circulation and newspaper sales number. The digital subscriptions (Samsung tablets) can never replaced the hard copy losses. The CEO and his deputy are hiding behind the digital numbers.

Even property revenue cannot be counted on forever to bail out the media business. At some point, Temasek may just have to step in and separate the editorial functions from the corporate business, or treat SPH like another mediacorp.

 

[quidnunc]

http://theindependent.sg/former-sen...f-if-it-did-not-axe-so-many-staff-last-year/#

 

[batman1]

No problem. BG fatty Ng Yat Chung dispatch to SPH already.

 

[mudhatter]

don't tell me ah nehs will take over SPH

or this fatso stinky chink ah loong's crony will sell SPH off for a pittance again?

 

[Narong Wongwan]

SPH recruit Krafty the whore to cut and paste strait timed articles here

 

[batman1]

BG Fatty Ng Yat Chung may sell SPH like a hot potato like he sold Neptunes. Too hot to handle. He only know how charge up the hill and capture the enemy but now he has to bark orders and handle balance sheet,profit & loss and cash flow statement. He think the best solution is to : Give up. Surrender .Dispose the asset. LOL.......

 

[laksaboy]

BG Fatty Ng Yat Chung may sell SPH like a hot potato like he sold Neptunes. Too hot to handle. He only know how charge up the hill and capture the enemy but now he has to bark orders and handle balance sheet,profit & loss and cash flow statement. He think the best solution is to : Give up. Surrender .Dispose the asset. LOL.......

NOL Building is now named the Fragrance Empire Building.

 

[quidnunc]

https://m.facebook.com/story.php?story_fbid=10157253225699563&id=713079562

Caution! Your stomach might turn...

 

[quidnunc]

Good observation. To be expected when the CEO is NYC and the Head of Media business is Anthony Tan, ex civil servant parachuted into SPH to be government watchdog. Double layer protection.

 

[Confuseous]

Shitty Times is the PAP in-house newsletter masquerading as a "national newspaper" and are there
for us to "hear only the good things". It was not easy for them to attain the 147th ranking in the
global free press list. Think of all the boot- and ass-linking these presstitudes have to endure their
consistency in their rankings.

They are still operating in the 1970s format.

 

[laksaboy]

Shitty Times is the PAP in-house newsletter masquerading as a "national newspaper" and are there
for us to "hear only the good things". It was not easy for them to attain the 147th ranking in the
global free press list. Think of all the boot- and ass-linking these presstitudes have to endure their
consistency in their rankings.

They are still operating in the 1970s format.

At the end of the day, Sinkieland is not too different from China, when the media is concerned.

The only difference is that dissidents don't get 'vanished' in Sinkieland, and there is no Great Firewall. We have defamation lawsuits and POFMA instead.

 

[quidnunc]

https://www.straitstimes.com/busine...utm_medium=share&utm_term=2020-04-16+01:25:42

Before covid, this company was already in decline quarter by quarter. With covid, it's going into freefall.

The entire senior management beginning from CEO, Dy CEO and all the rest should take steeper salary cuts than just 10 %.

 

[nayr69sg]

Many are affluent, but few are connected.

For example, Teo Chee Hean.

I see a lot of OCBC leh