engaging minds enriching lives - singapore press holdings · organisation, engaging minds and...

summary fi nancial report 2009

engaging minds enriching lives

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Singapore Press Holdings (SPH) is Southeast Asia’s leading media organisation, engaging minds and enriching lives across multiple languages and platforms.

We publish 17 newspaper titles in four languages and more than 100 magazines. Every day, 3 million individuals, or79 per cent of people above 15 years old, read one of our publications. The online editions of our main newspapers enjoy some 150 million page views with9 million unique visitors every month.

Our success is built on the long history and rich heritage of our two fl agship newspapers – The Straits Times, the English-language daily and Lianhe Zaobao, the Chinese-language daily. The other two dailies, Berita Harian and Tamil Murasu, remain the staple for the Malay-speaking and Tamil-speaking communities respectively. These four major newspapers, together withThe New Paper, a daily tabloid,and The Business Times, the leading fi nancial daily in Singapore, also provide online news to SPH’s Internet portal, AsiaOne.

SPH’s online and new media initiatives include online marketplace for products, services and employment, ST701; local search and directory engine, rednano.sg;Stomp (Straits Times Online Mobile Print), a portal that connects, engages and interacts with readers on the Web and via mobile phone messaging; omy, a bilingual news and interactive portal and The Straits Times RazorTV, a free access interactive webcast service offering live chat shows and video-on-demand clips. We also operate two popular radio channels, 91.3 FM in English and Radio 100.3 in Mandarin, under an 80 per cent-owned joint venture company, SPH UnionWorks, with NTUC Media. Both channels leverage on the brand name and resources of our print newsrooms, giving them that unique edge.

SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40 per cent stake in MediaCorp Press Ltd, which publishes the free newspaper, Today.

In addition, SPH has ventured into outdoor advertising through our wholly-owned subsidiary, SPH MediaBoxOffi ce Pte Ltd, Singapore’s largest outdoor motion display advertising network media company.

On the property front, SPH owns and manages Paragon, the prime retail and offi ce complex in the heart of Orchard Road, Singapore’s main shopping belt. Our wholly-owned subsidiary, Times Development Pte Ltd, is also developing a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road.

As an industry leader, we are an active corporate citizen and support various community and charity causes, ranging from education, arts and culture, wildlife conservation and sports.

At SPH, we are always striving to do more than just inform, educate and entertain.

CORPORATE PROFILE

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IFC Corporate Profi le

10 Group at a Glance

12 Group Financial Highlights

13 Chairman’s Statement

16 CEO’s Overview of Group Operations

26 Signifi cant Events

29 Corporate Social Responsibility

32 Awards & Accolades

34 Investor Relations

35 Investor Reference

37 Summary Financial Statements

47 Options and Awards

48 Shareholding Statistics

50 Notice of Annual General Meeting

56 Corporate Information

Proxy Form

Request Form

CONTENTS

WE LOOKTO OUR PASTWITH PRIDE…

SPH-SFR09-RE-DO.indd 1SPH-SFR09-RE-DO.indd 1 29/10/2009 6:03 PM29/10/2009 6:03 PM

Times Periodicals isrenamed SPH Magazines

‘03Lianhe Zaobao celebratesits 80th birthday

‘03SPH buys Paragon atOrchard Road

‘97SPH takes overTamil Murasu

‘95

The Straits Times marksits 150th anniversary

‘95Launch of AsiaOneand online newspaperproducts

‘95The New Paper, anafternoon newspapergoes on sale

‘88Merger of Chineseand English newspapergroups

‘84

THESTORYBEGINS1984


SPH launches my paper,a free daily

‘06

tabla!, a weekly paperfor the Indian diaspora,is published

‘08Sphere Exhibits,SPH’s events arm, debuts with Food Safari show

‘08

16

ST RazorTV, SPH’s Internet TV, goes live

‘08Launch of fi rst localsearch and directoryengine, rednano.sg

‘08

SPH introducesSky@eleven, its fi rstproperty development

‘07ST701, online CATSClassifi ed, goes live

‘06SPH ventures intooutdoor advertising withSPH MediaBoxOffi ce

‘05

THEJOURNEYCONTINUES2009


SPH launches new corporatelogo to signal future direction“With SPH moving beyond print, it is time to rebrand ourselves to better represent our current portfolio and future direction.” – Dr. Tony Tan, Chairman, SPH

Launch of SPH’s new corporate logo. (From left to right) Prof Cham Tao Soon, Deputy Chairman, SPH; then-MICA Minister Dr Lee Boon Yang; President S R Nathan; Dr Tony Tan, Chairman, SPH; Acting MICA Minster Lui Tuck Yew and Mr Alan Chan, Chief Executive Offi cer, SPH

30 March

‘09


INTEGRITYPASSIONFREEDOMEASE

…AND TOOUR FUTUREWITH CONFIDENCE.Over the past 25 years, SPH has grown into a leading regional media organisation with a spectrum of products including the 164-year-old English fl agship daily, The Straits Times, and the 86-year-old Chinese daily, Lianhe Zaobao. Our rich heritage also encompasses over 50 years for Berita Harian and more than 75 years for Tamil Murasu.

An innovative and forward-thinking brand, we thrive on delivering unparalleled content in multiple languages across various media platforms.

We have consistently provided our consumers with more and better options when it comes to news, information and entertainment. We strive to fi nd new and innovative ways in the creation and dissemination of content that will remain meaningful in the lives of our consumers, now and in the future. That is our pride, our privilege and our continuing commitment as epitomised by our new brand promise of engaging minds, enriching lives.

As we build upon our proud history, we remain confi dent in our future to inform, educate and entertain with:


INTEGRITYInforming With

SUMMARY FINANCIAL REPORT 2009

Everyday, millionsof peopleare enlightened by the quality and credibility of our content. We bring the world to our readers through compelling coverage of people and events that defi ne lives and societies.We recognise that our journalistic integrity is at the heart of our success – past, present and future. It’s who we are and what we are about.


At SPH Magazines, our passion to inform and entertain is at the core of everything we do. With 40 years of experience and more than 100 titles covering a wide spectrum of topics, we have a unique relationship with our readers, providing them with moments of delight, inspiration and entertainment.

PASSION

Entertaining With


Whether in the comfort of their

homes or basking under sunny

skies, our consumers are simply

a click away from the news,

information and entertainment

that matters most to them.

With more than 150 million

page views, our news, lifestyle

and service portals are read

by individuals including

the movers and shakers of

industries across Asia.

Surfi ng With

FREEDOM


Connecting

EASEWith

Day or night, 24/7, we are making the world a little smaller. Our suite of interactive services such as “Breaking News” reaches our mobile subscribers instantaneously and with consummate ease. Speed and mobility are redefi ning the media experience thanks to technological innovation. We connect our consumers to the future of media, making sure the information they need is always on hand.


GROUP AT A GLANCE

NEWSPAPERS

With print as its core business, SPH publishes 17 newspaper titles in four languages. Every day, 3 million individuals or 79 per cent of people above 15 years old, read one of SPH’s news publications. With more than 1,000 journalists, including correspondents operating in 20 cities around the world, SPH is well-equipped with the talent and network to deliver quality news and information that covers both domestic and international markets.

MAGAZINES

SPH Magazines publishes over 100 magazine titles in Singapore and the region, covering a broad range of interests from fashion, bridal, society, automobiles, parenting, décor and information technology. It also provides custom editorial and publishing services covering lifestyle magazines and newsletters. It strives to bring its titles to global markets through acquisition of franchises for well-known international titles to affi rm its position as the publisher of choice.

INTERNET AND NEW MEDIA

SPH’s online editions of its key newspapers enjoy over 150 million page views with 9 million unique visitors every month. SPH has also expanded into other new media initiatives such as online marketplace for products, services and employment, ST701; local search and directory engine, rednano.sg; Stomp (Straits Times Online Mobile Print), a portal that connects, engages and interacts with readers on the Web and via mobile phone messaging; omy, a bilingual news and interactive portal andThe Straits Times RazorTV, a free access interactive webcast service offering live chat shows and video-on-demand clips.

10 Singapore Press Holdings


BROADCASTING

SPH has a 20 per cent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40 per cent stake in MediaCorp Press Ltd, which publishes the free newspaper, Today. In the radio business, SPH has a 80 per cent stake in SPH UnionWorks Pte Ltd, which operates entertainment stations Radio 100.3 in Mandarin and 91.3FMin English, together with partner NTUC Media.

PROPERTIES

SPH owns and manages Paragon, the prime retail and offi ce complex in the heart of Orchard Road, Singapore’s main shopping belt. It houses some of the world’s leading luxury brands. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, is also developing a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road. The development will comprise four towers housing a total of 273 units of4-bedroom apartments and large penthouses.

summary financial report 2009 11

OUTDOOR MEDIA

SPH MediaBoxOffi ce Pte Ltd is Singapore’s largest outdoor motion display advertising network media company. Its advertising footprint covers fi ve large LED screens and about 600 plasma & LCD screens in commercial buildings island-wide. It also operates large-format billboards, banners and other static outdoor media platforms.


GROUP FINANCIAL HIGHLIGHTSfor the fi nancial year ended August 31, 2009

2009 2008 Change S$’000 S$’000 %

Operating revenue 1,301,367 1,301,011 -

Operating profi t# 496,959 501,688 (0.9)

Profi t before taxation 482,206 522,008 (7.6)Profi t after taxation 418,365 435,925 (4.0)Minority interests 3,516 1,519 131.5 Profi t attributable to shareholders 421,881 437,444 (3.6)

Shareholders’ interests 2,055,176 2,088,899 (1.6)Total assets 3,235,358 3,150,705 2.7 Total liabilities 1,170,696 1,049,428 11.6 Minority interests 9,486 12,378 (23.4) Dividends declared for the fi nancial year 400,788 432,783 (7.4)

Profi tability ratios % % % points

Operating margin^ 38.2 38.6 (0.4) Return on operating revenue 32.4 33.6 (1.2)Return on shareholders’ funds 20.5 20.9 (0.4)

Per share data %Net assets (S$) 1.28 1.30 (1.5)Profi t before taxation (S$) 0.30 0.33 (9.1)Profi t attributable to shareholders (S$) 0.26 0.27 (3.7)Dividends declared for the fi nancial year (cents)

## 25 27 (7.4)

Dividend cover for the fi nancial year (times) 1.0 1.0 -

Value added S$ S$ %Per employee 227,494 243,579 (6.6) Per $ employment costs 3.04 2.75 10.5 Per $ investment in property, plant and equipment (before depreciation) 0.92 0.95 (3.2) Per $ operating revenue 0.70 0.72 (2.8)

# This represents the recurring earnings of the media and property businesses, including profi ts from the Group’s Sky@eleven development.

^ Computed based on recurring earnings.## Dividends for both FY 2009 and FY 2008 are tax-exempt (one-tier). The proposed fi nal dividend of 18 cents per share, comprising a normal dividend of 9 cents per share and a special dividend of 9 cents per share, is subject to approval by shareholders at the Annual General Meeting on December 4, 2009.



CHAIRMAN’SSTATEMENT

We unveiled a new corporate logo and brand essence –

engaging minds, enriching lives. This reaffi rms our determination to excel beyond print and across

platforms to strengthen SPH’s position as Southeast Asia’s leading media organisation.


CHAIRMAN’S STATEMENT


Despite a very challenging global economic environment in 2008, SPH’s performance has been commendable. In a year when many companies were hit badly by the fi nancial crisis, SPH’s net profi t for FY 2009 was just a shade below that of FY 2008. The Group’s total revenue of $1.3 billion remained comparable to that of the previous year.

The newspapers and magazines segment was impacted by the recession and saw its revenue decline by 12 per cent.This was offset by the Group’s property segment which turned in a strong performance. The global fi nancial meltdown also caused our Investment income to record a net loss of $6.2 million.Our overall net profi t of $422 million was 3.6 per cent lower than that of the previous year.

SPH took pre-emptive measures early in the year to buffer ourselves from the impact of the economic downturn. Wage reductions were implemented, operating costs were reduced and budgets across the board were cut. I commend the management and staff for acting quickly and effectively.

Notwithstanding the uncertainties in the economy, SPH recognises the importance of investing in the future. In March this year, we celebrated the 25th anniversary of the formation of SPH as a merged single entity with products in multiple languages. We unveiled a new corporate logo and brand essence – engaging minds, enriching lives. This reaffi rms our determination to excel beyond print and across platforms to strengthen SPH’s position as Southeast Asia’s leading media organisation.

While we celebrated 25 years as SPH, the products in our stable have a rich heritage going back much longer. Our English fl agship paper, The Straits Times, is 164 years old, while Lianhe Zaobao is 86 this year. Berita Harian celebrated its 50th anniversary in 2007

and next year Tamil Murasu will mark its 75th anniversary. Despite our long and distinguished history, SPH has not been complacent. Our experience and accumulated expertise remain a core strength but we have continued to rejuvenate and refresh our products to keep up with the times.

Hence, while we trimmed operational costs, we ensured that we did not stop delivering value to our consumers and advertisers. Several of our products were revamped during the year, including The Business Times Weekend, zbCOMMA (formerly Friday Weekly), straitstimes.com and omy.sg, as well as publications in the SPH Magazines stable such as Her World, Nuyou, Young Parents, The Peak and Men’s Health.

We launched several new publications: tabla!, a weekly free paper for the growing Indian diaspora here; 24:7, Singapore´s only English-language watch magazine for women; Domain, a high end architecture and design magazine; and ZbBz, a monthly bilingual “newsgazine” which marries the intelligence of newspaper journalism with the sophistication of magazine design.In the online space, we launchedThe Straits Times Breaking News, a free website with the latest news, and CLing, a Chinese web portal in collaboration with Business China.

We continued to invest in our printing infrastructure and facilities. We commissioned a new UNISET printing facility at Media Centre which is capable of printing semi-commercial products. This has opened up new revenue streams for the company. And because it can print three different publications at the same time, it has greatly enhanced SPH’s business continuity plan in the event of a contingency. Our third warehouse was launched at the beginning of 2009. With this new warehouse, we are now able to stock newsprint at an optimal level and reap substantial savings in storage and transport.



Our property segment had a busy year. Paragon’s $82 million renovation was unveiled, with more than 40,000 square feet of commercial space for retail, medical and offi ce use, and a facelift showcasing a contemporary and elegant-looking facade as well as new stores.Our condominium project development, Sky@eleven, will obtain Temporary Occupation Permit next year.

Our adjacent businesses have grown signifi cantly. SPH’s new events subsidiary, Sphere Exhibits, held a series of shows covering a range of interests, such as food, IT games, travel and education.It is expanding into the arena of outdoor lifestyle events. SPH MediaBoxOffi ce (SPHMBO) increased its presence and now has 600 screens island-wide. Its retail network spans 18 malls across the island.

Beyond Singapore, 701Search Pte Ltd launched its latest online classifi eds website www.AyosDito.ph in the Philippines. Its Malaysian website, www.mudah.my, is one of the leading websites in the country. 701Search’s next expansion will be in Indonesia.

With the acquisition of ShareInvestor, SPH has made online fi nancial services a key part of our growing portfolio of new media offerings. We expect to derive substantial synergies with various SPH online entities, in particular The Business Times and its website, businesstimes.com. SPH and the Singapore Exchange have inked an agreement to jointly launch a free website that provides market data, news stories and related value-added services to retail investors. This will be ready next year.

Last year, I announced that we acquired the book publishing business of SNP International Publishing. Now known as Straits Times Press, it is an important additional publishing channel for SPH.

What has been most gratifying is that our dedication and diligence have been rewarded and recognised through the numerous awards we have received. SPH once again bagged the Securities Investors Association’s Most Transparent Company Award. We were named among Singapore’s Top 20 brands by Brand Finance. And according to a readers’ survey by Wall Street Journal on Asian companies in August 2009, SPH is the fourth most admired company in Singapore.

Our products clinched numerous accolades. Just to name a few, we bagged fi ve awards for editorial excellence at the Society of Publishers in Asia (SOPA) awards and topped the 2009 WAN-IFRA Asian Media Awards with11 major wins.

Our role as a good corporate citizen won recognition. Our awards include the HR Advocate Award for Corporate Social Responsibility (CSR) at the Singapore HR Awards 2009 and a 5-Year Outstanding Corporate Gold Award from the Community Chest. For our support of the arts, SPH was named Distinguished Patron of the Arts by the National Arts Council and a Patron of Heritage by the National Heritage Board.

FY 2009 has been an eventful year, with satisfactory fi nancial results in the face of a global fi nancial crisis. To reward our loyal shareholders, the Board has recommended a fi nal dividend of 18 cents per share, comprising a normal dividend of 9 cents and a special dividend of 9 cents. Together with the interim dividend paid, the total dividend payout for the year will be 25 cents per share.

On behalf of the directors, I would like to thank our management, staff, business associates, unions, investors, readers and all other stakeholders for their dedication and support.

I would like to express SPH’s and the Board’s gratitude to Dr Philip Pillai, who retired from the Board at the end of September to take up the prestigious position of Judicial Commissioner in the High Court. Dr Pillai has made valuable contributions to the company for the past 6 years. We wish him all the best in his new role.

I would also like to welcome Mr Lucien Wong, who was appointed a non-executive director of SPH in October. A corporate lawyer specialising in mergers and acquisitions, Mr Wong will be a member of the SPH Board’s audit committee. I am confi dent that Mr Wong will be a valuable asset to the Board and the company.

In the coming year, there will be new challenges but also new opportunities. No organisation will be able to survive or prosper unless it keeps itself abreast of emerging trends, and turns adversity into opportunity. I strongly believe that with the support of all our SPH stakeholders, SPH can face the future with confi dence and will continue to grow and prosper.

Dr Tony Tan Keng YamChairman


SPH has weathered the global fi nancial storm well. The Group responded to the diffi cult economic climate swiftly by taking rigorous measures – including wage cuts and other cost controls – to cushion the expected impact on the advertising market.

In the face of an unfavourable economic climate, print advertisements fell 16.9 per cent to $648 million in FY 2009. This was a respectable result and a testament to the strong value that our print products provide even in these challenging times.

Sales of newspapers were also adversely affected by the economic downturn. Following a cover price increase in October 2008, average daily circulation fell 3 per cent to just over one million copies in FY 2009. But some of the group’s newspapers managed to turn in robust circulation growth, bucking the global newspaper trends in developed economies where both circulation and advertising have fallen precipitously.

Profi t from the Sky@eleven condominium project, recognised on a percentage of completion basis, buttressed the profi t level of the Group. For FY 2009, the Group achieved an operating profi t of $497 million, 0.9 per cent lower than last year, while its operating revenue of $1.3 billion remained comparable to that of last year.

CEO’S OVERVIEWOF GROUP OPERATIONS



NEWSPAPERS

The group’s newspapers held their ground in the face of increasing competition from other media platforms. FY 2009 was in fact a busy year for SPH newspapers as we launched new and innovative initiatives to enhance our products and their relevance to readers.

Our fl agship newspaper, The Straits Times, continues to be the most infl uential English daily in Singapore with circulation and readership exceeding 374,000 and 1.43 million respectively.The paper was named the best newspaperadvertising platform in Singapore, according to a survey of advertisers by Marketing magazine. Aside from its dominance in print, The Straits Times also expanded its online reach through the revamp of the Straitstimes.com website in August 2008. This is part of our continuing efforts to reach out to more readers across platforms - in print, online and mobile.

In line with serving Singapore’s increasingly diverse demographic structure, Lianhe Zaobao, the group’s Chinese fl agship, introduced a new section called Crossroads, which offers special features and reports of interest to new immigrants. Zaobao also launched a new student newspaper called zbCOMMA. Bundled with Zaobao and targeted at secondary schools, zbCOMMA has been well received by students, parents and teachers. This has boosted circulation of the main paper by 3,500 copies, or 2 per cent of daily average sales. Zaobao also carved a new niche with the launch of “ZbBz”, Singapore’s fi rst bilingual “newsgazine”. ZbBz is targeted at bilingual elites inspired by the renaissance of oriental culture and who enjoy the fi ner things in life.


The Business Times maintained its position as the medium of choice among the business fraternity. Despite a cover price increase, it grew its circulation by 0.5 per cent. The highlight of the year for the paper was the relaunch of its weekend edition in September 2008 as a compact (tabloid) format. The refreshed look and expanded sections on lifestyle and wealth, coupled with creative advertising packages, were well received by the market. Circulation of the weekend edition has risen 16.4 per cent from a year earlier.

The New Paper strengthened its daily diet of sports, human interest and entertainment stories aimed at younger readers. Since the middle of 2008, the paper is delivered in the morning but with afternoon special sports editions on Mondays and Thursdays to capture overnight football matches. The paper now publishes FiRST movie magazine as a free weekly pull-out. The New Paper clinched the top award for Excellence in Reporting Breaking News conferred by the Society of Publishers in Asia.

Singapore’s fi rst bilingual free daily, my paper, also gained international recognition and won the “Best in Cross Media Editorial Coverage” award at the IFRA 8th Asia Media Awards 2009.

The group’s two evening Chinese papers, Lianhe Wanbao and Shin Min Daily News rationalised their offerings. This has resulted in Shin Min growing its circulation by 1.4 per cent, while Wanbao has boosted its advertising revenues.

Berita Harian, the group’s Malay-language daily, continued its push to engage more young. The BH Media Club is now in 70 primary and secondary schools with biannual student media camps, annual teachers’ forum and other activities.

Tamil Murasu continued to do well, gaining 7.2 per cent in circulation as a result of its strong news coverage of the Indian elections and the hostilities in Sri Lanka. It also launched tabla!, an English-language free weekly which has been greeted well by the growing Indian diaspora in Singapore.

NEWSPAPER SERVICES

On the retail front, the group’s buzz pod franchise – which represents a new generation of newsstands - expanded to 50 outlets nationwide. Buzz pods are now found in all major bus interchanges. To further enrich our product offering and promote ease of payment at buzz pods, SPH entered into a collaboration with Nets to extend payment options and cashcard sales, as well as to provide top-up services at selected outlets.

SPH continues to make investment in our print products. Last year, we commissioned a new printing press at Media Centre in Genting Lane. This will serve as a backup facility to the main printing facility at Print Centre in Jurong, and will also undertake our semi-commercial and contract printing business.

SPH offi cially opened our third and newest warehouse at Print Centre, increasing our onsite newsprint storage capacity by an additional 9,000 metric tonnes. The eco-friendly facility minimises the need for external storage, thus saving on rental, transportation and material handling costs.

NEWSPAPERS



NEWSPAPERSTHAT READERS

TRUST



SPH Magazines (SPHM) has strengthened its position as the leading magazine publisher in Singapore and regionally. Its titles continued to win numerous international awards, even as advertising revenues were hit by widespread cutbacks on advertising budgets. SPHM embarked on a major drive in FY 2009 to rationalise and streamline its portfolio of titles. A number of titles were amalgamated into existing publications, while some titles were closed. To harness greater synergies, a restructuring exercise was conducted in conjunction with the integration of SPHM subsidiary, Hardware Zone.

SPHM continued to expand its offerings. 24:7, Singapore’s only English-language women’s watch annual, was launched in late-September 2008. July 2009 saw the launch of The Peak’s latest spin-off title Domain, an annual publication covering high-end home design and architecture.

Throughout the year, SPHM held various events to showcase its titles and strengthen relationships with readers and advertisers. Some key events in 2009 included Her World Woman of the Year 2009, an annual signature event held to honour women role models who have contributed signifi cantly to Singapore society. ICON celebrated its 4th anniversary in glamorous fashion with the ICON Ball, graced by 320 of the country’s elite and socialites. These events cemented SPHM’s solid rapport and reputation among its readers and advertisers.

MAGAZINES



MAGAZINES THAT CONSUMERS

DESIRE



SPH has transformed itself from a print company to a multi-platform multimedia company that continues to innovate and keep abreast of the fast-changing world of new media. Our new media products have established themselves as leaders in their respective areas, with strong growth in page views and visitor numbers. SPH launched new sites and revamped a number of its online portals.

Five websites in SPH’s stable topped Hitwise Rankings for 2008. Zaobao.com and ST701.com were clear winners in the News and Media (Print) and Shopping and Classifi eds categories respectively. Hardwarezone.com continued its winning streak clinching top place for three IT categories. AsiaOne’s food website, soshiok.com, launched in May 2008, remained the top food and beverage lifestyle site in Singapore. Stomp’s “Singapore seen” site clinched the top spot for Lifestyle-Blogs and personal websites category. The group’s bilingual citizen journalism site, omy.sg, clinched two golds in Best in Online Media (Newspaper Website) and Best in Cross Media (Cross Media Editorial Coverage), and silver in Best in Cross Media (Cross Media Advertising) at the WAN-IFRA Asia Media Awards 2009.

Online PortalsThe AsiaOne Network, a re-branding of our online advertising properties, was launched in FY 2009. With this, the existing family of news and lifestyle websites was joined by ShareInvestor, HardwareZone, Game Axis, and Men’s Health Online. This offers advertisers better coverage and more targeted advertising capabilities.

It was a banner year for Straitstimes.com,the online platform of The Straits Times. A new free website, Straits Times Breaking News, was launched, providing the latest news in Singapore and around the world and with blogs by ST journalists on the issues of the day. Since its launch in August 2008, page views have more than doubled and unique visitors have tripled. Straitstimes.com also moved into the mobile space with a new iPhone application for readers on the go.

Stomp, Singapore’s pioneering citizen journalism and social networking website, enjoyed strong growth in visitorship and time spent on the site. The Straits Times RazorTV, SPH’s WebTV initiative, crossed a milestone with over one million video views a month. According to a Synovate survey, viewers gave top marks to RazorTV’s hyperlocal content and its fresh new approach to covering events. RazorTV also launched its

iPhone application which, within four days, became the most downloaded application at the Apple App store.

First launched in September 2007, omy.sgenjoys over 10 million page views and an average of 370,000 unique visitors per month, and is one of the top news/entertainment/blog sites in Singapore.In July 2009, working with Business China, omy.sg launched a new Chinese learning portal, CLing, to provide Singaporeans a lively contemporary environment to learn Chinese and gain exposure to different aspects of modern China.

Zaobao.com, the web edition of Lianhe Zaobao, has grown its reach to 5 million page views and 600,000 unique visitors daily, retaining its position as the most visited Singaporean website for the past four years. With its online platform, Lianhe Zaobao’s coverage on Greater China now attracts millions of high-profi le readers in the region.

In November 2008, SPH acquired Shareinvestor (SI), a leading Internet fi nancial media and technology company, to strengthen our Internet-based fi nancial services. The SI Station and ShareInvestor.com website are targeted at retail investors, with practical analysis and charting tools. With a presence in

NEW MEDIA



INNOVATIONTHAT PEOPLE

DEMANDMalaysia, and Thailand as well, SI is a signifi cant regional provider of online investor relations services, with some 400 listed clients. SI organises an annual Invest Fair, which have attracted over 60,000 visitors since its inception three years ago. As part of the synergies reaped from the acquisition, this year’s Invest Fair was jointly organised with The Business Times. Further such collaborations are in the pipeline.

Online Classifi eds, Search and DirectoriesST701, SPH’s online classifi eds portal,has become Singapore’s leadinge-marketplace. Between April 2008 and August 2009, it received more visitors than any other classifi eds website, with an almost 20 per cent market share in the classifi eds website category, according

to Hitwise, the online tracking company. To better serve its users, the website was revamped in August 2009 with an enhanced interface, new features and search functions.

On the regional front, ST701 launched “Ayosdito”, in the Philippines in April 2009. Ayosdito, which means “Ok here” in Tagalog, has been well received and follows the success of mudah.my, which became the top online classifi eds site in Malaysia within 10 months of launch.

SPH made further inroads into the regional market through two new online directory services; one in China, 701Sou, and the other in Malaysia, 701Panduan. Going live in October last year, 701Sou has made rapid progress in the Chinese market, surpassing both

its major competitors in terms of total site visits and page views. 701Panduan, which went live in March this year, has surpassed its two major competitors in terms of total site visits and page views.

Rednano, SPH’s online local search and directory service, saw increasing usage by information-seekers and businesses. It extended its reach in the mobile space with the launch of a location-based directory search service to complement its SMS and WAP services. In line with its aim to boost advertisers’ return on investment, Rednano rolled out the Rednano AdSMART search advertising network in August 2009. This network gives businesses the opportunity to use contextual ads progressively on a wide range of SPH and non-SPH websites.



PropertiesIncome from our property segment continues to provide good yields. Following the successful launch of our luxury condominium developmentSky@eleven, structural works for all 273 units in four separate towers of the 43-storey project have been completed, while M&E and architectural works are progressing as scheduled. This constitutes a stage of completion of 67 per cent and the target TOP is in 2010.

SPH’s main property asset Paragon completed an $82 million renovation which unveiled more commercial space for retail, medical and offi ce use, and a facelift showcasing a contemporary and elegant-looking facade as well as new stores. The property enjoyed 98 per cent offi ce occupancy and 100 per cent retail occupancy. Total revenue from Paragon rose $5.3 million, a 4.7 per cent increase over last year. Paragon continued to attract the trendiest international names in fashion. Brands such as Gucci, Salvatore Ferragamo, Prada, Tod’s and Miu Miu will front the Orchard Road facade with their new-concept duplexes.

Outdoor AdvertisingSPH Media Box Offi ce (MBO) expanded its presence in the digital out-of-home space by increasing its advertising network to about 600 screens island-wide. The LED screen at Singapore Visitors’ Centre at Orchard Road was re-instated, bringing the total number of LED screens to fi ve – the largest LED network in Singapore.

MBO also expanded its footprint in the retail network by setting up indoor screens in six new malls belonging to the Frasers Centrepoint and UOL groups.The retail network now comprises 18 major malls. MBO also organized several events including the Sweet Christmas Fair in December 2008, Orchard Reloaded in May 2009 and a major trade show for Panasonic.

Events and ExhibitionsSphere Exhibits, SPH’s events and exhibitions arm, launched its fi rst event, The Food Safari and Home Electronics Fair 2008, in November 2008 with more than 100 exhibitors. The event attracted 250,000 visitors. This was followed by four more shows covering a range of consumer interests such as IT gaming, education, travel and beauty. Licence2Play, staged in May 2009, was particularly successful in the competitive arena of gaming shows. To date, Sphere Exhibits’ fi rst fi ve events have attracted a total visitorship of almost one million.

RadioOur radio subsidiary SPH Unionworks, an 80-20 joint venture between SPH and NTUC Media, operates two radio stations. The Chinese-language Radio 100.3 adopts a successful interactive infotainment format, with core consumer target groups consistently registering longer listening times. The English-language 91.3FM received excellent response and feedback for its new breakfast programmes.

BUSINESS OUTLOOK

There are signs that the global recession is abating and that major world economies may soon return to modest growth. However, there is still signifi cant economic uncertainty, and the risk of a double-dip recession remains. Singapore’s media landscape, battered by the past few months, may also take time to recover.

Despite this, SPH will continue to draw on its core strengths to maintain its market share while developing and strengthening our capabilities in new media segments. And even as the group continues to monitor our cost structure and take steps to preserve our profi t margins, we will continue to explore investment opportunities in order to position ourselves for future long-term growth.

Taking into account the challenging economic climate and increased competition from non-traditional media platforms, the group has managedan exemplary performance in the last12 months. This is due to the hard work, dedication and commitment of staffat all levels, and I would like to thankall of them for their support. Of course, our successes this year must also be attributed to the support of our customers, vendors, business partners and the unions.

I would also like to express my sincere gratitude to the SPH Board for its strategic counsel and support in these times of uncertainty.

No matter what the coming year may bring, I am confi dent that we will be able to meet challenges and opportunities head-on as we strive towards becominga world-leading multimedia group.

Chan Heng Loon AlanChief Executive Offi cer

OTHER BUSINESSES


OpenNet



Licence2Play by Sphere Exhibits

Invest Fair by ShareInvestor and The Business Times

Sky@elevenSky@eleven


SIGNIFICANT EVENTS


6 Sept 2008The Business Times Weekend refreshed

The Business Times, Singapore´s leading fi nancial daily, launched its revamped weekend edition on this day with a new look and fresh content.

6 Sept 2008Lianhe Zaobao’s 85th Anniversary

Lianhe Zaobao celebrated its 85th anniversary with a gala dinner at St Regis Hotel, attended by over 300 guests, including Guest-of-Honour Prime Minister Lee Hsien Loong, government offi cials, leaders in the Chinese community and journalists.

17 Sept 2008Straits Times Press, new book publishing subsidiary, formed

SPH announced the formation of a new book publishing business under its subsidiary, Straits Times Press Pte Ltd. Straits Times Press has taken over the current contracts of SNP International Publishing, the book publishing arm of SNP Corporation, and its intellectual property rights, as well as its six-person team headed by publishing veteran Shirley Hew.

26 Sept 2008OpenNet selected as Singapore’s Next Generation National Broadband Network

OpenNet (Axia NetMedia Corporation 30%, Singapore Telecommunications Limited 30%, Singapore Press Holdings Limited 25% and SP Telecommunications Pte Ltd 15%) was selected by the Infocomm Development Authority of Singapore (IDA) to provide passive fi bre grid services for Singapore´s Next Generation National Broadband Network.

26 Sept 2008SPH Magazines launched 24:7

SPH Magazines launched 24:7, Singapore´s only English-language watch magazine for women.

10 Oct 2008Drumming up a new beat - SPH launched tabla!

The fi rst issue of SPH’s new English compact-size paper, tabla! hit the newsstands on this day. Targeted at the Indian diaspora in Singapore, tabla! is distributed free every Friday.

2 Nov 2008The New Paper BIG WALK returned… “on water”

The New Paper Big Walk celebrated its 20th anniversary by bringing back its signature mass-participation fun walk.The New Paper Big Walk took place from Suntec City Mallto the Marina Barrage. 14 - 16 Nov 2008Food Safari - Sphere Exhibits’ inaugural event made debut at Suntec

Sphere Exhibits´ inaugural show, The Food Safari and Home Electronics Fair, made its debut at the Suntec Convention Halls. The three-day event attracted more than 250,000 visitors.

7 Jan 2009Friday Weekly revamped and renamed zbCOMMA

Friday Weekly, the Chinese student newspaper published by SPH, was revamped and renamed zbCOMMA (逗号) in January 2009. The student paper is distributed together with SPH´s Chinese fl agship newspaper Lianhe Zaobao via school subscription and at selected buzz pods.

Launch of 24:7

Launch of zbCOMMA



4 Mar 2009Paragon with new façade

Paragon’s $82 million renovation unveiled more than 40,000 square feet of commercial space for retail, medical and offi ce use, showcasing a contemporary and elegant-looking facade as well as new stores.

7 Mar 2009SPH launched inaugural Singapore Entertainment Awards 2009 (新加坡e-乐大赏)

Organised by SPH’s Chinese media including Lianhe Wanbao, Radio 100.3, omy.sg and UW (U-Weekly), the annual awards honoured the best talents in the Singapore and Asian entertainment scene.

26 Mar 2009Her World’s New Look, With More of Everything Readers Love

Her World, a publication of SPH Magazines and Singapore’s No. 1 women’s magazine, unveiled its new look with its April 2009 issue.

30 Mar 2009New logo launched to mark SPH’s 25th anniversary

SPH unveiled its new corporate logo at an event that marked the start of its 25th anniversary celebrations. Guest-of-Honour President S R Nathan, together with SPH chairman Dr Tony Tan, unveiled the new logo at SPH’s headquarters at News Centre. At the event, SPH also revealed its new tagline that captures the essence of its brand – “Engaging Minds, Enriching Lives”.

7 Apr 2009SPH expanded into Philippines with Online Classifi edswww.AyosDito.ph

701Search Pte Ltd launched its latest classifi eds website www.AyosDito.ph to serve the Filipino community.Ayosdito.ph is managed by 701Search, Inc, incorporated in November 2008 as a subsidiary of 701 Search Pte Ltd, which was established in Sept 2006 as a joint venture between SPH and Norwegian media group Schibsted ASA.

12 Apr 2009Launch of Crossroads by Minister Mentor

Crossroads, a weekly section which focuses on new immigrants in Lianhe Zaobao, was launched by Minister Mentor Lee Kuan Yew.

Launch of Crossroads by Minister Mentor Lee Kuan Yew

Paragon’s facelift

Launch of new SPH logo


SIGNIFICANT EVENTS

15 Apr 2009SPH’s Third Warehouse at Southeast Asia’s Largest Single Printing SiteSPH’s third and newest warehouse was offi cially opened by SPH Chief Executive Offi cer Mr Alan Chan. With its eight presslines, the SPH Print Centre at Jurong Port Road is the largest single printing site in Southeast Asia. More than a million copies of newspapers are printed daily.

1 May 2009Female and Nuyou presented Singapore’s Longest Catwalk on Orchard Road

SPH Magazines’ Female and Nuyou presented Singapore’s longest staged catwalk in Orchard Road on 1 May 2009.

7 May 2009FiRST moved to The New PaperFiRST magazine, Asia’s premier monthly movie magazine published by SPH Magazines Pte Ltd, morphed into a special weekly pull-out section in The New Paper.

21 May 2009The Peak celebrated 25th Anniversary

The Peak, Singapore’s leading luxury lifestyle magazine published by SPH Magazines, celebrated its 25th anniversary with a gala dinner featuring the Who’s Who of Singapore’s corporate and social circles.

25 June 2009World Bank’s Chief Economist at Eminent Speakers Series

Professor Justin Lin Yifu, the Chief Economist of the World Bank, spoke at the Eminent Speakers Series jointly organised by Lianhe Zaobao and Business China.

18 July 2009Fun with CLing - A New Chinese Portal Prime Minister Lee Hsien Loong launched “CLing”– a Chinese web portal which exposes young Singaporeans to modern China and help them learn Chinese through fun and interesting ways. The media platform is jointly presented by Business China and omy.sg.

22 July 2009AsiaOne extended to include Hardwarezone.com, GameAxis.com and Men’s Health OnlineThe AsiaOne Network, Singapore’s premier and fastest growing ad network, has expanded its range of online offerings with the addition of 3 key websites – Hardwarezone.com (http://hardwarezone.com), a leading online portal in the IT category, GameAxis.com(http://www.gameaxis.com) and Men’s Health Online(http://www.menshealth.com.sg).

24 July 2009Launch of Domain, by The Peak

The Peak Selections: Domain, a new annual publication covering high-end design, architecture and homes in the region was launched. This annual publication is a brand extension of The Peak.

30 July 200929 awarded SPH and SPH Foundation Scholarships

SPH and SPH Foundation presented a total of 29 scholarships at its annual scholarship awards ceremony held at the SPH News Centre.

Of these, 8 were the SPH Journalism scholarships, 15 were scholarships given to children of staff and newspaper vendors, and 6 were for the SPH Foundation’s Lim Kim San Memorial scholarships.

22 Aug 2009ShareInvestor launched third annual Invest Fair 2009

ShareInvestor, a fi nancial Internet media and technology company and a subsidiary of SPH, offi cially launched its third annual Invest Fair 2009 at the Suntec Singapore International Convention & Exhibition Centre.

Centred on the theme “Invest with Knowledge”, this event aimed to empower both beginners and seasoned investors and traders with the knowledge and techniques to make informed trading and investment decisions.

31 Aug 2009President S R Nathan celebrated“The New Paper Be Yourself Day”

President S R Nathan celebrated this year’s The New Paper Be Yourself Day together with students of Maha Bodhi School.

SPH’s third warehouse at Print Centre

Launch of “CLing” by Prime Minister Lee Hsien Loong



CORPORATE SOCIAL RESPONSIBILITY -SINGAPORE PRESS HOLDINGS

As a responsible corporate citizen, Singapore Press Holdings strives to engage the community through the various sponsorship and donation programmes in the arts, charity, education, language enrichment and conservation. Our corporate social responsibility efforts have won us many accolades. But the best reward to us is the signifi cant contributions we have made to the community.

ARTS

Distinguished Patron once again SPH was named Distinguished Patron of the Arts for the16th consecutive year at the Patron of the Arts Award 2008.

ChildAid raised record amount ChildAid, the annual children´s charity concert organised by The Straits Times School Pocket Money Fund and The Business Times Budding Artists Fund, raised a record $506,000. Eighty performers aged 6-19 years performed for two nights at the NUS University Cultural Centre.

A jazzy ChristmasFor the second year running, SPH sponsored local jazz sensation Jeremy Monteiro’s year-end Christmas concert series at the Esplanade Concert Hall. “A Jazzy Christmas: Noel Samba Bossa Nova” saw Monteiro perform with some of the world’s best jazz talents.

SPH Gift of Music showcased homegrown talentTo celebrate its 25th anniversary, SPH held a series of SPH Gift of Music concerts featuring the Singapore Symphony Orchestra, Singapore Chinese Orchestra and the Philharmonic Winds. The free concerts were held at the heartlands, parks and campuses, as well as the Esplanade Outdoor Theatre and the Paragon Shopping Centre.

SPH 25th Anniversary Gala Concert - Colours of MusicOne of the highlights of SPH’s 25th anniversary celebrations was a Gala Concert by the Singapore Chinese Orchestra at the Esplanade Concert Hall on 30 October 2009. It featured Engaging Moments - 25 years of Photojournalism, a piece created by American photo-choreographer James Westwater for SPH. The work showcased photos taken by SPH photojournalists in the past 25 years, with music accompaniment by the orchestra and the SYC Ensemble Singers.

The concert also featured an original work for SPH by Cultural Medallion recipient Iskandar Ismail. SPH ChairmanDr Tony Tan presented a cheque of $500,000 to 20 charitable programmes at the concert.

SSO’s BenefactorSPH was the sole recipient of this year’s Singapore Symphony Orchestra (SSO) Benefactor Award. The award was presented to SPH by President S R Nathan at the SSO’s 30th Anniversary Dinner.

A Patron of HeritageSPH received the Patron of Heritage award from the National Heritage Board. It supported the Singapore HeritageFest 2008, Heritage Gala 2008 and various exhibitions at the Singapore Art Museum, through the extensive network of out-of-home media subsidiary, SPH MediaBoxOffi ce.

Chinese cultural activitiesThousands of visitors thronged the Singapore River Hong Bao 2009, which was held at the Marina Floating Platform for the fi rst time from 24 January to 1 February 2009. The annual Lunar New Year carnival was jointly organised by Lianhe Zaobao, Lianhe Wanbao, Shin Min Daily News, together with other partners.

ChildAid SPH Gift of Music



CORPORATE SOCIAL RESPONSIBILITY -SINGAPORE PRESS HOLDINGS

Children helping Children The “Children For Children’’ initiative is an annual project organised by The Business Times together with CHIJ (Kellock) and The Arts House. Launched in 2008, this initiative brought 1,000 underprivileged children together to celebrate Children’s Day and raised funds for two children-related charities - The Straits Times School Pocket Money Fund and The Business Times Budding Artists Fund. This year,a total of $235,000 was raised.

SPORTS

Teamwork in sprintsThe 17th SPH Schools Relay Championships at the Bukit Gombak Stadium attracted the participation of over 1,400 students and 357 teams from 50 schools. Over 1,200 witnessed a total of four new records being set, with the Singapore Sports School clinching the SPH Overall Challenge Trophy.

CORPORATE

CSR and HR efforts recognisedSPH clinched the HR Advocate Award for Corporate Social Responsibility at the Singapore HR Awards 2009 for the fi rst time, having garnered the Leading HR Practices Award for CSR from 2007 to 2009. It was also recognised for its Talent Management, Retention & Succession Planning practices, and received a special mention in Compensation & Rewards Management.

Supporting the fi ght against cancerSPH Magazines Pte Ltd was acknowledged as a top corporate donor to the Children’s Cancer Foundation.

Nurturing local dancersSPH was the Singapore Dance Theatre (SDT)’s fi rst Silver Anniversary Sponsor, pledging its support from 2008 to 2013. Some of the highlights in 2009 included Cinderella, Ballet Under the Stars and Season of Brilliance.

Singapore Writers FestivalSingapore Press Holdings, together with the SPH Foundation, were the offi cial sponsors of the Singapore Writers Festival 2009, which was held at the Arts House from 24 October to 1 November 2009. The biennial event is Singapore’s only national literary festival and presents the world’s literary talents to Singapore.

The SPH-NAC Golden Point Award (GPA) 2009 is Singapore’s national creative writing competition held in conjunction with the Singapore Writers Festival. It was started in 1993 to promote the art of creative writing in the four major languages of Singapore.

CHARITY

Support for President’s ChallengeSPH’s fund raising events for President’s Challenge included The New Paper’s “Be Yourself Day” in schools and the Chinese Newspapers Division’s Youth Talent Concert.

Straits Times’ School Pocket Money FundThe economic downturn led to more children applying for fi nancial assistance from The Straits Times School Pocket Money Fund. There were 1,000 more applicants (from a total of 9,855) in the fi rst half of this year than for the whole of last year. With the rise in the number of families needing help, the fund needs to raise $5.7 million this year, the highest since its inception in 2000. To date, the fund has raised over $20 million to help over 50,000 children.

SPH received SSO Benefactor Award The New Paper’s “Be Yourself Day”



The Singapore Press Holdings Foundation (SPHF), a registered charity and an Institution of Public Character, was set up in January 2003 to help build a lifelong learning community that embraces language enrichment, creativity, diversity, healthy living and sports. The seed contribution of $20 million to the Foundation came from media group Singapore Press Holdings Limited.

EDUCATION

Reading programmes for special needs childrenWorld-class storytellers facilitated practical and entertaining workshops for parents, caregivers and educators of children with special needs. This was jointly organised by the SPH Foundation and the National Book Development Council of Singapore, as part of the Singapore International Storytelling Festival.

Inaugural Business Quiz for university studentsStudents from four local universities competed in the inaugural SPH Foundation Singapore Universities Business Quiz that tested their knowledge of business, current affairs and entrepreneurial talent. Organised by The Business Times, Singapore Management University (SMU) emerged the winner.

Lim Kim San Memorial ScholarshipsSPH Foundation gave out scholarships to six full-time students pursuing language studies at the National University of Singapore and Nanyang Technological University.

Story Challenge Organised by local theatre company The Theatre Practice, the Story Challenge, a nation-wide story-telling competition, returned for the third year. Participants were challenged to create their own tales within a certain time limit.

ARTS

Patron of the Arts once again SPH Foundation received the Patron of the Arts award for the fourth time.

ENVIRONMENT

Appreciating natureAn initiative by the National Parks Board, the Special Projects to Understand Nature (SUN) Club programme is a series of nature appreciation fi eld trips to parks and nature reserves for children with special needs. Since its inception in 2005,it had hosted over 100 trips for 3,200 children to six parks.

Wildlife protection SPH supports wildlife conservation efforts and the environment. In addition to the adoption of the Proboscis Monkeys at the SPH Conservation Centre and Inuka the Polar Bear at the Singapore Zoo, it also initiated the SPH Foundation Conservation Ambassadors and Wildlife Buddies Programme to encourage environmental awareness in the young.

CORPORATE SOCIAL RESPONSIBILITY -SINGAPORE PRESS HOLDINGS FOUNDATION

SMU was the winner of the the inaugural SPH Foundation Singapore Universities Business QuizThe SPH Foundation Conservation Ambassadors and Wildlife Buddies Programme




AWARDS AND ACCOLADES

CORPORATE AWARDS

1. SIAS Investors’ Choice Awards 2008 - Most Transparent Company Award - Best Financial Journalist of The Year Award (Ng Hwee Min, Lianhe Zaobao) - Most Promising Journalist of the Year (Chew Xiang, The Business Times) - Special Award (Kalpana Rashiwala, The Business Times)

2. 24th Community Chest Awards - Corporate Gold Award

3. Patron of the Arts Award - SPH received Distinguished Patron of the Arts and SPH Foundation was awarded Patron of the Arts

4. SSO Benefactor Award - SPH is the sole recipient of the award in 2009

5. Patron of Heritage Award

6. Singapore HR Awards 2009 - HR Advocate Award for Corporate Social Responsibility - Leading HR Practices in Talent Management, Retention & Succession Planning Award - Leading HR Practices in Corporate Social Responsibility Award - Special Mention in Compensation & Rewards Management

7. Brand Finance Forum 2009 – Top 100 Most Valuable Brand (20th position)

8. CPF Board 2009 Supplier Awards

9. Singapore Health Award (Gold)

10. Wall Street Journal Asia 200 Survey 2009 – (4th most admired company in Singapore)

EDITORIAL ACHIEVEMENTS

1. 23rd ASEANTA Awards For Excellence in Tourism - Best Asean Travel Article – Silverkris

2. Asia Travel & Tourism Creative Awards 2008 - Editorial Spread on a Travel-Related Subject - Bronze (SilverKris)

3. MPAS (Magazine Publishers Association of Singapore) Singapore Publishing Awards: - Her World (MPAS Magazine of the Year 2009) - ICON (MPAS Chinese Magazine of the Year 2009)

4. SOPA Awards for Editorial Excellence - Excellence in Reporting Breaking News – Winner (The New Paper) - Excellence in Information Graphics – Honourable Mention (The New Paper) - Excellence in Reporting Breaking News – Honourable Mention (The Straits Times) - Excellence in Business Reporting – Honourable Mention (The Straits Times) - Excellence in Magazine Design - Honourable Mention (Female)

5. Hitwise Rankings for 2008 - Food and Beverage - Lifestyle and Reference (www.soshiok.com) - Lifestyle - Blogs and Personal Websites (singaporeseen.stomp.com.sg) - News and Media – Print (www.zaobao.com) - Shopping and Classifi eds – Classifi ed (www.st701.com) - Computers and Internet – Hardware (www.hardwarezone.com) - Social Networking & Forums (www.hardwarezone.com) - News and Media – IT Media (www.hardwarezone.com)

6. APEX Awards 2009 - Grand Award for Design & Illustration (SilverKris) - Award of Excellence for Custom-Published Magazine (Pinnacle) - Award of Excellence for Most Improved Magazine (Millenia)

SIAS Investors’ Choice Awards 2008 SOPA Awards for Editorial Excellence



PROPERTIES ACCOLADES

1. Singapore Retailer Association (SRA) Shopping Centre Scorecard 2008 - Outstanding Efforts in Advertising & Promotions (Paragon) - Outstanding Efforts in Mall Maintenance (Paragon)

OTHER AWARDS

1. Global Telecoms Business Innovation Awards - Best Consumer Service Innovation (Rednano Locate)

2. AdAsia’s Asia Interactive Awards - Innovative Online Achievement (rednano.sg)

3. Fast Forward 09 conference - Digital Market Award (rednano.sg)

4. Superbrands – Top 10 Singapore Brands (The Straits Times)

EDITORIAL ACHIEVEMENTS (Continued)

7. Magnum Opus Awards 2009 - Best Feature/Design – Gold (SilverKris) - Best Overall Design – Honourable Mention (SilverKris) - Best Feature/Design – Silver (Pinnacle) - Most Improved Editorial – Gold (Millenia) - Most Improved Design – Silver (Millenia) - Best Use of Photography - Honourable Mention (LATITUDE ONEo15)

8. Tabbie Awards 2009 - Front Cover, Digital Imagery - Honourable Mention (BiZQ)

9. PANPA (Pacifi c Area Newspaper Publishers’ Association) Advertising Awards - Best Ad Promoting Print (The Business Times) - Best Tactical Use of Newspapers (Launch of my paper) - Best Print Campaign (Berita Harian, for client Andalus) - Best Print Campaign (The New Paper, for client Carlsberg Euro 2008)

10. Newspaper Design Competition for Beijing Olympics - Editorial Planning – Gold (Lianhe Zaobao) - Best Design (Overseas Newspaper category) – Silver (Lianhe Zaobao)

11. India Boating Awards - Best Yachting Magazine (Asia-Pacifi c Boating)

12. Newspaper of the Year 2009 (by Marketing Magazine) - The Straits Times (Gold – 20, Silver – 8, Bronze – 2) - The Business Times (Gold – 6, Silver – 13, Bronze – 7) - The New Paper (Gold – 2, Silver – 1) - my paper (Bronze – 4) - Lianhe Zaobao (Silver – 1, Bronze – 1)

13. Magazine of the Year 2009 (by Marketing Magazine) - The Peak (Gold – 2, Silver – 5, Bronze – 3) - Her World (Gold – 2, Silver – 2, Bronze – 3) - HWM (Gold – 2, Silver – 1, Bronze – 1)

PANPA Awards for SPH Ads The Straits Times is one of the Top 10 Singapore Brands


INVESTOR RELATIONS

Investor Relations Calendar

1st Quarter 2009 (Sept – Nov 08)

• 2008 Full Year Financial Results Announcement and Media Conference & Analysts’ Briefi ng with audio webcast• Full Year Results Investor Meeting# Morgan Stanley Asia Pacifi c Summit 2008 (Singapore)• Daiwa Non-Deal Roadshow (Tokyo)• Release of Annual Report 2008

2nd Quarter 2009 (Dec 08 – Feb 09)

• Payment of 2008 fi nal dividends• Annual General Meeting• Announcement of 1Q FY 2009 results• Post 1Q Results Investor Meeting# BNP Paribas ASEAN Corporate Day (Singapore)

# Investor conferences attended

3rd Quarter 2009 (Mar – May 09)

# Credit Suisse – Asian Investment Conference (Hong Kong)• Announcement of 2Q/HY FY 2009 results and analysts’ briefi ng with audio webcast• Post 2Q Results Investor Meeting# CLSA Corporate Access Forum (Singapore)

4th Quarter 2009 (Jun – Aug 09)

# SIAS Corporate Profi le Seminar (Singapore)• Announcement of 3Q FY 2009 results• Post 3Q Results Investor Meeting• Shareinvestor’s Invest Fair 2009

Financial Calendar

2009 12 Oct Announcement of FY 2009 Results

14 Dec Books Closure for Dividend Entitlement

23 Dec Proposed Payment of FY 2009 Final Dividends

2010* 13 Jan Announcement of 1Q FY 2010 Results

13 Apr Announcement of 2Q FY 2010 Results

12 Jul Announcement of 3Q FY 2010 Results

12 Oct Announcement of FY 2010 Results

* The dates are indicative and subject to change. Please refer to SPH website, www.sph.com.sg, for the latest updates.

SPH: Engaging Minds, Enriching LivesSPH is committed to engaging both readers and advertisers by developing and acquiring innovative and superior products that enrich the lives of our audiences across multiple languages and platforms. Despite the challenging media landscape, we remain committed to improving our product offerings and pursuing new revenue streams to enhance shareholders’ value.

During the year, we successfully executed several greenfi eld and acquisition projects, affi rming our commitment to innovate beyond print and strengthen our suite of media products. Some examples of our continued expansion with online initiatives include the launch of 701Panduan in Malaysia and AyosDito in the Philippines. Other activities include the acquisition of Shareinvestor and our entry into the book publishing business.

We continue to forge ahead to build on our core competencies in journalism, marketing and distribution while pursuing new opportunities to grow and maintain our dominance as Southeast Asia’s leading media organisation. Proactive engagement with the Investment CommunityThe SPH Investor Relations team proactively engages the investment community to deliver timely information on the Group’s fi nancial performance as well as strategic and growth initiatives. Senior management frequently communicates with shareholders, analysts and investors via multiple channels including one-on-one meetings, conference calls, quarterly post-results luncheons, investment conferences and overseas roadshows.

SPH shares are widely held by both global and local institutional funds and private investors. We continue to attend major investor conferences to keep investors informed of the latest news and developments of the Group. During the year, senior

management undertook a roadshow in Tokyo for the second time to strengthen shareholder relations and gain valuable feedback for the Group. We also engage with retail investors through email and telephone calls, as well as public forums such as those organised by the Securities Investors Association of Singapore (“SIAS”) and Shareinvestor.

This year, we launched a revamped Investor Relations website with additional features and information. This is part of our continuing effort to improve and provide effective communication with the investment community. With a brand new look, the comprehensive website provides easy access to the Company’s fi nancial and business information. Investors can access senior management’s presentation of the Group’s half and full year results through audio webcasts and slide presentations, which are available online.

Enhancing Shareholders’ ValueSPH strives to enhance the long-term value for shareholders. We will continue to assess opportunities of returning excess cash generated from operations that is surplus to the Company’s requirement. The level of capital return, in the form of share buy back, dividend and capital distribution, will be determined to allow the Company to balance its operational requirement needs with the fl exibility to pursue strategic business opportunities. Based on our track record, a high percentage of our recurring earnings have been returned to shareholders in the past fi ve years. Profi ts accruing from property operations – Sky@eleven and Paragon – are recognised as part of our recurring earnings.

Shareholders are encouraged to access our corporate website at www.sph.com.sg for the latest corporate information updates on the Group. Queries can be posted via our investor relations email address, [email protected].



INVESTOR REFERENCE

Operating Margin+ (%)Operating Margin excluding Sky@eleven+ (%)

Net Dividend per Share (cents) Net Dividend (S$’m)

Return on Shareholders’ Funds (%)

30.4

21.023.5

20.9

38.6

43327.0

22.8

24.0

26.0

34.2 34.5

36.8

363383

416

2005o

2005*#

2006

2006#

2007

2007#

2008

2008

2009^

2009

2005 2006 2007 2008 2009^

2005*# 2006# 2007# 2008 2009

* Restated to take into account the retrospective adjustments on adoption of FRS 102 - Share-based Payment in FY 2006.# Restated to take into account the retrospective adjustments relating to FRS 40 - Investment Property.+ Computed based on recurring earnings.o Refl ected on a net basis for comparison purposes.

^ Included one-tier tax exempt fi nal dividend of 18 cents per share, comprising a normal dividend of 9 cents per share and a special dividend of 9 cents per share. The proposed dividends are subject to approval by shareholders at the Annual General Meeting on December 4, 2009.

34.8 34.6

Operating Margin excluding Sky@eleven (%)Operating Margin (%)

20.5

38.2

30.5

25.0 401



2009 2008 2007# 2006# 2005*#

S$ S$ S$ S$ S$

Highest closing price 4.18 4.74 4.72 4.90 4.86 Lowest closing price 2.32 3.98 4.00 3.88 4.22 August 31 closing price 3.66 4.12 4.34 3.98 4.52 Price/Earnings Ratio based on August 31 closing price 14.08 15.26 14.00 15.31 15.07

* Restated to take into account the retrospective adjustments on adoption of FRS 102 - Share-based Payment in FY 2006.# Restated to take into account the retrospective adjustments relating to FRS 40 - Investment Property.

Source: Bloomberg

Recurring Earnings@ and Dividend Payout Rate##

600

500

400

300

200

100

0

120

100

80

60

40

20

02005*# 2006# 2007# 2008 2009

@ Recurring earnings represent earnings of the media and property businesses on a recurring basis, including profi ts from the Group’s Sky@eleven development.## Computed based on recurring earnings.

* Restated to take into account the retrospective adjustments on adoption of FRS 102 - Share-based Payment in FY 2006.# Restated to take into account the retrospective adjustments relating to FRS 40 - Investment Property.

Recurring Earnings (S$M)Dividend Payout Ratio (%)

S$’m %

200

150

100

50

0

5

4

3

2

12005 2006 2007 2008 2009

VolumeShare Price

Share Price and Volume

MonthlyTurnover

MillionShares

SharePrice

INVESTOR REFERENCE




SUMMARY FINANCIAL STATEMENTfor the fi nancial year ended August 31, 2009

IMPORTANT NOTEThe Summary Financial Statement as set out on pages 37 to 46 contains only a summary of the information in the Directors’ Report and fi nancial statements of the Company’s Annual Report. It does not contain suffi cient information to allow for a full understanding of the results and the state of affairs of the Company and the Group.

For further information, the full fi nancial statements, the Independent Auditors’ Report on those statements and the Directors’ Report in the Annual Report should be consulted. Shareholders may request for a copy of the full Annual Report at no cost. Please use the Request Form at the end of this Summary Financial Report.

SUMMARY DIRECTORS’ REPORT

DIRECTORS

1. The Directors of the Company in offi ce at the date of this report* are:

Tony Tan Keng Yam Cham Tao Soon Chan Heng Loon Alan Willie Cheng Jue Hiang Ng Ser Miang Ngiam Tong Dow Sum Soon Lim Yeo Ning Hong Yong Pung How

* Dr Philip N Pillai stepped down as a Director with effect from September 30, 2009.

PRINCIPAL ACTIVITIES

2. The principal activities of the Group consist of:

(a) publishing, printing and distributing newspapers,(b) publishing and distributing magazines,(c) providing multimedia content and services,(d) holding investments,(e) holding, managing and developing properties,(f) providing outdoor advertising services, (g) providing radio broadcasting services, (h) providing online search, directories and classifi ed services,(i) organising convention/conference events,(j) publishing and distributing books, and(k) providing online investor relations services.

The principal activities of the Company consist of:

(a) publishing, printing and distributing newspapers,(b) distributing magazines and books,(c) providing multimedia content and services,(d) holding shares in subsidiaries,(e) holding investments, and(f) providing management services to subsidiaries.

SPH-AR09-Financial-SUMMARY-11dft-Cast.indd 37SPH-AR09-Financial-SUMMARY-11dft-Cast.indd 37 29/10/2009 4:26 PM29/10/2009 4:26 PM



ARRANGEMENTS TO ENABLE DIRECTORS TO ACQUIRE BENEFITS

3. Neither during nor at the end of the current fi nancial year was the Company a party to any arrangement whose object was to enable the Directors of the Company to acquire benefi ts through the acquisition of shares in or debentures of the Company or any other body corporate, except as disclosed under ‘Share Options in the Company’ and ‘Performance Shares in the Company’ in the Directors’ Report.

DIRECTORS’ INTERESTS IN SHARES

4. The Directors holding offi ce as at August 31, 2009 who had interests in shares and options in the Company and its subsidiaries as recorded in the register of Directors’ shareholdings were as follows:

Direct Interests Deemed Interests

Sept 1, Aug 31, Sept 21, Sept 1, Aug 31, Sept 21, 2008 2009 2009 2008 2009 2009

The Company

Management Shares Tony Tan Keng Yam 4 4 4 - - - Cham Tao Soon 4 4 4 - - - Chan Heng Loon Alan 12 12 12 - - - Willie Cheng Jue Hiang 4 4 4 - - - Ng Ser Miang 4 4 4 - - - Ngiam Tong Dow 4 4 4 - - - Philip N Pillai* 4 4 4 - - - Sum Soon Lim 4 4 4 - - - Yeo Ning Hong 4 4 4 - - - Yong Pung How 4 4 4 - - -

Ordinary Shares Tony Tan Keng Yam 235,797 235,797 235,797 200,000 200,000 200,000 Cham Tao Soon 10,000 10,000 10,000 10,183 10,183 10,183 Chan Heng Loon Alan 107,000 130,000 130,000 - - - Willie Cheng Jue Hiang 108,500 208,500 208,500 12,750 12,750 12,750 Ngiam Tong Dow - - - 20,000 30,000 30,000 Philip N Pillai* 17,000 17,000 17,000 - - - Yeo Ning Hong 33,660 33,660 33,660 54,697^ 54,697^ 54,697^

Yong Pung How 600,000 600,000 600,000 4,708,300 4,500,000 4,500,000

Held jointly by Dr Yeo Ning Hong and his spouse. * Dr Philip N Pillai stepped down as a Director with effect from September 30, 2009.

Options for Ordinary Shares Chan Heng Loon Alan 1,275,000 1,275,000 1,275,000 - - -




DIRECTORS’ INTERESTS IN SHARES (CONT’D)

Direct Interests Deemed Interests

Sept 1, Aug 31, Sept 21, Sept 1, Aug 31, Sept 21, 2008 2009 2009 2008 2009 2009

Conditional Award of Performance Shares* Chan Heng Loon Alan

16,667# shares to be Up to vested in January 2009 24,000## - ^ - ^ - - -

32,500# shares to be Up to Up to Up to vested in January 2010 46,800## 45,800## 45,800## - - -





180,000# shares to be Up to Up to vested in January 2012 - 270,000## 270,000## - - -

16,667# shares to be Up to Up to vested in January 2013 - 24,000## 24,000## - - -

* Represents performance shares granted in FY 2007 to FY 2009. # The number of shares represents the shares required if awarded at 100% of the grant. ## The shares awarded at the vesting date could range from 0% to 150% depending on the level of achievement against the pre-set

performance conditions. ^ During the fi nancial year, 23,000 shares were vested and awarded to Mr Chan Heng Loon Alan.

Detailed information regarding Directors’ shareholdings can be obtained in accordance with Sections 164(8) and (9) of the Companies Act, Chapter 50.

DIRECTORS’ CONTRACTUAL BENEFITS

5. Since the end of the previous fi nancial year, no Director has received or become entitled to receive a benefi t by reason of a contract made by the Company or a related corporation with the Director or with a fi rm of which he is a member or with a company in which he has a substantial fi nancial interest, except as disclosed in the Directors’ Report and fi nancial statements.

SHARE OPTIONS IN THE COMPANY

Singapore Press Holdings Group (1999) Share Option Scheme (“1999 Scheme”)

6. (a) The 1999 Scheme was approved by shareholders at an Extraordinary General Meeting held on July 16, 1999 and is administered by the Remuneration Committee (“the Committee”). At another Extraordinary General Meeting held on December 5, 2006, the shareholders approved the adoption of the SPH Performance Share Plan and the 1999 Scheme was terminated with regard to the grant of further options. Options granted and outstanding prior to the termination will continue to be valid and be subject to the terms and conditions of the 1999 Scheme.

(b) Details of options granted previously have been disclosed in the Directors’ Reports for the respective years.

(c) The aggregate number of options granted since the commencement of the 1999 Scheme on July 16, 1999 to December 5, 2006 is 103,090,950 options to subscribe for ordinary shares.




SHARE OPTIONS IN THE COMPANY (CONT’D)

Singapore Press Holdings Group (1999) Share Option Scheme (“1999 Scheme”) (cont’d)

7. Movements in the number of the unissued shares of the Company under option during the fi nancial year and their exercise prices are as follows:

Grant Expiry Exercise Balance Options Options Balance Date Date Price 01.09.08 Exercised Lapsed 31.08.09

27.10.99 27.10.09 S$5.60 6,878,200 - (127,500) 6,750,700 30.10.00 30.10.10 S$4.78 7,621,100 - (149,175) 7,471,925 06.11.01 06.11.11 S$3.03 795,375 (22,000) (3,400) 769,975 28.10.02 28.10.12 S$3.91 3,371,700 - (14,025) 3,357,675 16.12.03 16.12.13 S$3.69 4,221,625 (14,900) (17,425) 4,189,300 01.02.04 01.02.14 S$3.83 35,000 - - 35,000 21.12.04 21.12.14 S$4.54 12,591,375 - (62,050) 12,529,325

16.12.05 16.12.15 S$4.30 14,437,200 - (399,550) 14,037,650

49,951,575 (36,900) (773,125) 49,141,550

PERFORMANCE SHARES IN THE COMPANY

SPH Performance Share Plan (“the Plan”)

8. (a) The Plan of the Company was approved by shareholders at an Extraordinary General Meeting held on December 5, 2006 and is administered by the Committee.

(b) Persons eligible to participate in the Plan are selected Group Employees of such rank and service period as the Committee may determine, and other participants selected by the Committee.

(c) Awards initially granted under the Plan are conditional and will be principally performance-based with performance conditions to be set over a multi-year performance period. Performance conditions include both market and non-market conditions. Performance conditions set are intended to be based on medium- to longer-term corporate objectives covering market competitiveness, quality of returns, business growth, productivity growth and total shareholder return objectives.

(d) The Plan contemplates the award of fully-paid ordinary shares, their equivalent cash value or combinations thereof, free of charge, provided that certain prescribed performance conditions are met and upon expiry of the prescribed vesting periods.

9. During the fi nancial year, 2,320,005 performance shares were granted subject to the terms and conditions of the Plan as follows:

No. of PerformanceCategory No. of Persons Shares Granted

Executive Director 1 230,000 1

Employee 254 2,090,005 2

255 2,320,005

1 180,000 granted with market conditions and 50,000 granted with non-market conditions. 2 670,000 granted with market conditions and 1,420,005 granted with non-market conditions.

The aggregate number of performance shares granted since the commencement of the Plan on December 5, 2006 to August 31, 2009 is 6,337,910 performance shares.



PERFORMANCE SHARES IN THE COMPANY (CONT’D)

SPH Performance Share Plan (“the Plan”) (cont’d)

Movements in the number of performance shares outstanding during the fi nancial year are summarised below:

Outstanding Outstanding and unvested Grant as at as at Date 01.09.08 Adjusted* Granted Vested Lapsed 31.08.09 (‘000) (‘000) (‘000) (‘000) (‘000) (‘000)

12.01.07 1,741 388 - (510) (17) 1,602 11.01.08 2,131 - - - (19) 2,112 12.01.09 - - 2,320 - (16) 2,304

* Adjusted at end of the performance period based on the level of achievement of pre-set performance conditions.

The shares awarded at the vesting date could range from 0% to 150% of the grant, depending on the level of achievement against the pre-set performance conditions.

AUDIT COMMITTEE

10. The Audit Committee comprises three members*, all of whom are independent non-executive directors. They are:

Yeo Ning Hong (Chairman) Willie Cheng Jue Hiang Ngiam Tong Dow

* Dr Philip N Pillai stepped down from the Audit Committee with effect from September 30, 2009.

UNUSUAL ITEMS DURING AND AFTER THE FINANCIAL YEAR

11. In the opinion of the Directors, no item, transaction or event of a material and unusual nature has arisen during the fi nancial year or in the interval between the end of the fi nancial year and the date of this report which would substantially affect the results of the operations of the Group and of the Company for the fi nancial year in which this report is made, or render any items in the fi nancial statements of the Group and the Company for the current fi nancial year misleading, and/or affect the ability of the Group and the Company in meeting the obligations as and when they fall due, except as disclosed in the notes to the full fi nancial statements.

The Summary Financial Statement set out on pages 37 to 46 was approved by the Board on October 12, 2009 and was signed on behalf of the Board by:

Tony Tan Keng Yam Chan Heng Loon AlanChairman Director

Singapore,October 12, 2009




INDEPENDENT AUDITORS’ REPORTto the members of Singapore Press Holdings Limited

We have examined the Summary Financial Statement set out on pages 44 to 46, which has been prepared by the directors of the Company.

In our opinion, the Summary Financial Statement is consistent with the full fi nancial statements and Directors’ Report of Singapore Press Holdings Limited (the “Company”) and its subsidiaries (the “Group”) for the fi nancial year ended August 31, 2009, and complies with the requirements of Section 203A of the Singapore Companies Act, and regulations made thereunder, applicable to a Summary Financial Statement.

For a better understanding of the state of affairs of the Company and of the Group as at August 31, 2009 and of the results of the Group for the fi nancial year ended on that date and of the scope of our audit, the Summary Financial Statement should be read in conjunction with the full fi nancial statements and our audit report thereon.

We have issued an unqualifi ed audit report dated October 12, 2009 on the full fi nancial statements of the Group for the fi nancial year ended August 31, 2009 which is as follows:

“INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF SINGAPORE PRESS HOLDINGS LIMITED

We have audited the accompanying fi nancial statements of Singapore Press Holdings Limited (the “Company”) and its subsidiaries (the “Group”) set out on pages # to #, which comprise the balance sheets of the Company and of the Group as at August 31, 2009, and the consolidated income statement, consolidated statement of changes in equity and consolidated cash fl ow statement of the Group for the fi nancial year then ended, and a summary of signifi cant accounting policies and other explanatory notes.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these fi nancial statements in accordance with the provisions of the Singapore Companies Act (Cap. 50) (the “Act”) and Singapore Financial Reporting Standards. This responsibility includes:

(a) devising and maintaining a system of internal accounting control suffi cient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair profi t and loss accounts and balance sheets and to maintain accountability of assets;

(b) selecting and applying appropriate accounting policies; and

(c) making accounting estimates that are reasonable in the circumstances.

Auditors’ Responsibility

Our responsibility is to express an opinion on these fi nancial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance as to whether the fi nancial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fi nancial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the fi nancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the fi nancial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the fi nancial statements.

We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion.



INDEPENDENT AUDITORS’ REPORTto the members of Singapore Press Holdings Limited

Opinion

In our opinion,

(a) the balance sheet of the Company and the consolidated fi nancial statements of the Group are properly drawn up in accordance with the provisions of the Act and Singapore Financial Reporting Standards so as to give a true and fair view of the state of affairs of the Company and of the Group as at August 31, 2009, and the results, changes in equity and cash fl ows of the Group for the fi nancial year ended on that date; and

(b) the accounting and other records required by the Act to be kept by the Company and by those subsidiaries incorporated in Singapore of which we are the auditors have been properly kept in accordance with the provisions of the Act.”

PricewaterhouseCoopers LLPPublic Accountants and Certifi ed Public Accountants

Singapore,October 12, 2009

Note:# The page numbers are as stated in the Independent Auditors’ Report dated October 12, 2009 included in Singapore Press Holdings

Limited’s Annual Report for the fi nancial year ended August 31, 2009.



BALANCE SHEETS as at August 31, 2009

GROUP COMPANY

Aug 31, Aug 31, Aug 31, Aug 31, 2009 2008 2009 2008 S$’000 S$’000 S$’000 S$’000

CAPITAL EMPLOYEDShare capital 490,890 490,760 490,890 490,760Treasury shares (25,578) (27,660) (25,578) (27,660)Reserves 219,160 260,439 50,557 54,545Retained profi t 1,370,704 1,365,360 519,514 703,382

Shareholders’ interests 2,055,176 2,088,899 1,035,383 1,221,027Minority interests 9,486 12,378 - -

Total equity 2,064,662 2,101,277 1,035,383 1,221,027

EMPLOYMENT OF CAPITALNon-current assets Property, plant and equipment 462,534 490,297 296,897 316,228 Investment properties 1,174,465 1,140,180 - - Investments in subsidiaries - - 386,840 386,840 Investments in associates 45,600 45,582 29,326 21,326 Investments in jointly-controlled entities 17,441 15,652 - - Long-term investments 244,918 275,297 28,146 34,860 Intangible assets 52,628 39,707 - - Other non-current assets 4,949 5,725 3,653 4,496

2,002,535 2,012,440 744,862 763,750

Current assets Inventories 29,370 36,281 28,531 35,076 Trade receivables 434,008 223,991 87,256 102,009 Other receivables and prepayments 18,762 16,465 8,487 5,558 Short-term investments 448,572 642,561 169,940 84,075 Derivative fi nancial instruments 2,300 1,707 131 14 Amount owing by subsidiaries - - 693,244 854,837 Amount owing by associates 21 6,100 - 6,000 Amount owing by jointly-controlled entities 537 136 27 17 Cash and cash equivalents 299,253 211,024 128,637 71,471

1,232,823 1,138,265 1,116,253 1,159,057

Total assets 3,235,358 3,150,705 1,861,115 1,922,807

Current liabilities Trade payables 102,828 103,001 43,162 59,237 Other payables and accrued liabilities 133,581 156,622 105,246 131,865 Derivative fi nancial instruments 129 2,211 47 - Amount owing to subsidiaries - - 418,637 387,513 Amount owing to an associate 5 21 - - Amount owing to a jointly-controlled entity 18,424 12,616 18,406 12,571 Borrowings 870 800 - - Current income tax liabilities 71,584 92,173 44,285 63,763

327,421 367,444 629,783 654,949

Non-current liabilities Other payables and accrued liabilities 22,858 21,924 - - Deferred income tax liabilities 80,232 75,461 44,196 46,831 Borrowings 723,393 573,616 150,000 - Derivative fi nancial instruments 16,792 10,983 1,753 -

843,275 681,984 195,949 46,831

Total liabilities 1,170,696 1,049,428 825,732 701,780

Net assets 2,064,662 2,101,277 1,035,383 1,221,027



CONSOLIDATED INCOME STATEMENTfor the fi nancial year ended August 31, 2009

GROUP

2009 2008 S$’000 S$’000

Operating revenue Newspaper and Magazine 892,404 1,014,335 Property 365,600 255,294 Others 43,363 31,382

1,301,367 1,301,011Other operating income 13,598 15,168

1,314,965 1,316,179

Materials, consumables and broadcasting costs (184,594) (176,605)Property development costs (68,567) (39,241)Staff costs (286,896) (333,098)Depreciation (67,752) (61,876)Other operating expenses (188,651) (184,536)Finance costs (21,546) (19,135)

Profi t before investment income, impairment charge on investments in associates and share of net loss of associates and jointly-controlled entities 496,959 501,688Net (loss)/income from investments (6,186) 47,748Impairment charge on investments in associates - (26,712)Share of net loss of associates and jointly-controlled entities (8,567) (716)

Profi t before taxation 482,206 522,008Taxation (63,841) (86,083)

Profi t after taxation 418,365 435,925

Attributable to:Shareholders of the Company 421,881 437,444Minority interests (3,516) (1,519)

418,365 435,925

Earnings per share (S$) Basic 0.26 0.27 Diluted 0.26 0.27



NOTES TO THE SUMMARY FINANCIAL STATEMENTAugust 31, 2009

1. NEW OR REVISED ACCOUNTING STANDARDS AND INTERPRETATIONS

The Group has adopted the Interpretations to Singapore Financial Reporting Standards (“INT FRS”) that became effective in the current fi nancial year. The adoption of these INT FRS did not result in any substantial changes to the Group’s accounting policies nor any signifi cant impact on these fi nancial statements.

2. DIVIDENDS GROUP AND COMPANY

2009 2008 S$’000 S$’000 Dividends paid: - Final tax-exempt dividend of 9 cents per share in respect of previous fi nancial year (2008: 9 cents per share) 144,237 144,208 - Special fi nal tax-exempt dividend of 10 cents per share in respect of previous fi nancial year (2008: 10 cents per share) 160,264 160,231 - Interim tax-exempt dividend of 7 cents per share (2008: 8 cents per share) 112,221 128,282

416,722 432,721

(a) The Directors have proposed a fi nal tax-exempt (one-tier) dividend of 9 cents per share and a special fi nal tax-exempt (one-tier) dividend of 9 cents per share for 2009, amounting to a total of S$288,567,000.

(b) These fi nancial statements do not refl ect these proposed dividends, which will be accounted for in shareholders’ interests as an appropriation of retained profi t in the fi nancial year ending August 31, 2010 when they are approved at the next annual general meeting.

3. RELATED PARTY TRANSACTIONS

Key management personnel compensation are as follows:

GROUP

2009 2008 S$’000 S$’000 Remuneration and other short-term employee benefi ts 17,193 17,540 Employers’ contribution to defi ned contribution plans 380 454 Share-based compensation expense 3,119 2,553

20,692 20,547

Staff loans granted to key management personnel 1,059 1,169

The above includes total emoluments of the Company’s Directors of S$3,050,000 (2008: S$2,984,000).



OPTIONS AND AWARDS

Details of the options and awards granted to a Director under the Singapore Press Holdings Group (1999) Share Option Scheme (“1999 Scheme”) and the SPH Performance Share Plan (“Share Plan”) are as follows:

1999 Scheme

Number of existing Aggregate Number of ordinary options Aggregate new ordinary shares granted and options shares issued transferred accepted since exercised since pursuant pursuant commencement commencement to exercise to exercise Aggregate of 1999 of 1999 Aggregate of options of options awards Scheme on Scheme on options during the during the outstanding 16.07.99 16.07.99 outstanding fi nancial year fi nancial yearName of Director as at 1.09.08 to 31.08.09 to 31.08.09 as at 31.08.09 under review under review

Chan Heng Loon Alan 1,275,000 2,125,000 850,000 1,275,000 - -

Share Plan

Aggregate awards granted since Aggregate commencement awards Aggregate of Share released Aggregate awards Plan on during the awards outstanding 05.12.06 fi nancial year outstandingName of Director as at 1.09.08 to 31.08.09 under review as at 31.08.09

Chan Heng Loon Alan Up to Up to 23,000 Up to 590,400 932,400 906,400

In respect of the 1999 Scheme and the Share Plan:

1. No options were granted under the 1999 Scheme during the fi nancial year under review as the scheme was terminated with regard to the grant of further options following the adoption of the Share Plan on December 5, 2006.

2. The Rules of the 1999 Scheme do not allow for options to be granted at a discount.

3. No ordinary shares have been delivered pursuant to awards granted under the Share Plan.

4. No options or awards under the 1999 Scheme and the Share Plan have been granted to controlling shareholders of the Company or their associates.

5. No participant has received 5% or more of the aggregate of (a) the total number of new ordinary shares available under the Share Plan and 1999 Scheme collectively, and (b) the total number of existing ordinary shares delivered pursuant to awards released under the Share Plan and options exercised under the 1999 Scheme.

Copies of the 1999 Scheme and the Share Plan Rules are available for inspection at the Company’s registered offi ce.



SHAREHOLDING STATISTICSas at October 8, 2009

DISTRIBUTION OF ORDINARY SHAREHOLDERS BY SIZE OF SHAREHOLDINGS

No. of Size of Shareholdings Shareholders % No. of Shares * % *

1 - 999 1,558 3.26 689,952 0.041,000 - 10,000 36,849 77.02 141,350,793 8.9110,001 - 1,000,000 9,349 19.54 441,961,140 27.851,000,001 and above 87 0.18 1,002,864,027 63.20

Total 47,843 100.00 1,586,865,912 100.00

TWENTY LARGEST ORDINARY SHAREHOLDERS

No. Name No. of Shares % *

1 CITIBANK NOMINEES SINGAPORE PTE LTD 219,118,866 13.812 DBS NOMINEES PTE LTD 177,749,053 11.203 HSBC (SINGAPORE) NOMINEES PTE LTD 156,633,207 9.874 DBSN SERVICES PTE LTD 80,407,981 5.075 UNITED OVERSEAS BANK NOMINEES PTE LTD 51,058,171 3.226 RAFFLES NOMINEES PTE LTD 31,349,966 1.987 KO TECK SIANG PTE LTD 16,550,000 1.048 UNIVERSITY OF MALAYA 15,477,556 0.989 LEE FOUNDATION STATES OF MALAYA 15,215,522 0.9610 DB NOMINEES (S) PTE LTD 12,720,816 0.8011 TAN ENG SIAN 12,500,000 0.7912 OVERSEA CHINESE BANK NOMINEES PTE LTD 10,839,354 0.6813 LEE PINEAPPLE COMPANY PTE LTD 10,000,000 0.6314 UOB NOMINEES (2006) PTE LTD 8,633,772 0.5415 LEE FOUNDATION 8,210,940 0.5216 CHAN SIEW KIM ALICE 8,000,000 0.5017 NANYANG PRESS (SINGAPORE) LIMITED 7,973,824 0.5018 OCBC SECURITIES PRIVATE LTD 7,529,752 0.4719 MERRILL LYNCH (SINGAPORE) PTE LTD 7,338,144 0.4620 OCBC NOMINEES SINGAPORE PTE LTD 7,087,021 0.45

Total: 864,393,945 54.47 * Shareholdings exclusive of 6,270,609 treasury shares



DISTRIBUTION OF MANAGEMENT SHAREHOLDERS BY SIZE OF SHAREHOLDINGS

No. of Size of Shareholdings Shareholders % No. of Shares %

1 - 999 9 52.63 48 0.001,000 - 10,000 0 0.00 0 0.0010,001 - 1,000,000 3 15.79 2,183,149 13.411,000,001 and above 6 31.58 14,102,689 86.59

Total 18 100.00 16,285,886 100.00

HOLDERS OF MANAGEMENT SHARES

No. Name No. of Shares %

1 THE GREAT EASTERN LIFE ASSURANCE CO LTD 3,681,142 22.612 OVERSEA-CHINESE BANKING CORPORATION LTD 2,736,075 16.803 NTUC INCOME INSURANCE COOPERATIVE LIMITED 2,661,818 16.344 SINGAPORE TELECOMMUNICATIONS LIMITED 2,166,029 13.305 THE DEVELOPMENT BANK OF SINGAPORE LTD 1,547,154 9.506 UNITED OVERSEAS BANK LTD 1,310,471 8.057 NATIONAL UNIVERSITY OF SINGAPORE 872,729 5.368 FRASER & NEAVE, LIMITED 655,210 4.029 FULLERTON (PRIVATE) LIMITED 655,210 4.0210 CHIEF EXECUTIVE OFFICER 16 0.0011 DIRECTORS (FOUR EACH) 32 0.00

Total: 16,285,886 100

Not less than 99.6% of the ordinary shares in the Company is held by the public and Rule 723 of the Singapore Exchange Listing Manual has been complied with.

VOTING RIGHTS OF SHAREHOLDERS

The holders of management and ordinary shares shall be entitled either on a poll or by a show of hands to one (1) vote for each share, EXCEPT that on any resolution relating to the appointment or dismissal of a director or any member of the staff of the Company, the holders of the management shares shall be entitled either on a poll or by show of hands to two hundred (200) votes for each management share held.

SHAREHOLDING STATISTICSas at October 8, 2009



NOTICE OF ANNUAL GENERAL MEETINGSINGAPORE PRESS HOLDINGS LIMITED(Co Regn No : 198402868E)

NOTICE IS HEREBY GIVEN that the Twenty-Fifth Annual General Meeting of the Company will be held at The Auditorium, 1000 Toa Payoh North, News Centre, 1st Storey, Annexe Block, Singapore 318994 on Friday, December 4, 2009 at 10.30 a.m. for the following business:

ORDINARY BUSINESS

1. To receive and adopt the Directors’ Report and Audited Accounts for the fi nancial year ended August 31, 2009.

2. To declare a fi nal dividend of 9 cents and a special dividend of 9 cents, on a tax-exempt (one-tier) basis, in respect of the fi nancial year ended August 31, 2009.

3. (i) To re-appoint Cham Tao Soon as a Director of the Company, pursuant to Section 153(6) of the Companies Act, Chapter 50 of Singapore (the “Companies Act”), to hold such offi ce from the date of this Annual General Meeting until the next Annual General Meeting of the Company.

(ii) To re-appoint Ngiam Tong Dow as a Director of the Company, pursuant to Section 153(6) of the Companies Act, to hold such offi ce from the date of this Annual General Meeting until the next Annual General Meeting of the Company.

(iii) To re-appoint Yong Pung How as a Director of the Company, pursuant to Section 153(6) of the Companies Act, to hold such offi ce from the date of this Annual General Meeting until the next Annual General Meeting of the Company.

4. To re-elect the following Directors who are retiring in accordance with the Company’s Articles of Association, and who, being eligible, offer themselves for re-election:

(i) Willie Cheng Jue Hiang(ii) Yeo Ning Hong(iii) Lucien Wong Yuen Kuai

5. To approve Directors’ fees of S$953,000 (2008 : S$983,000).

6. To appoint Auditors and to authorise the Directors to fi x their remuneration.

7. To transact any other business of an Annual General Meeting.




SPECIAL BUSINESS

8. To consider and, if thought fi t, to pass, with or without modifi cations, the following resolutions which will be proposed as Ordinary Resolutions:

(i) “That pursuant to Section 161 of the Companies Act, Chapter 50 and the listing rules of the Singapore Exchange Securities Trading Limited (the “SGX-ST”), and subject to the provisions of the Newspaper and Printing Presses Act, Chapter 206, authority be and is hereby given to the Directors of the Company to:

(a) (i) issue shares in the capital of the Company whether by way of rights, bonus or otherwise; and/or

(ii) make or grant offers, agreements or options (collectively, “Instruments”) that might or would require shares to be issued, including but not limited to the creation and issue of (as well as adjustments to) warrants, debentures or other instruments convertible into shares,

at any time and upon such terms and conditions and for such purposes and to such persons as the Directors may in their absolute discretion deem fi t; and

(b) (notwithstanding that the authority conferred by this Resolution may have ceased to be in force) issue shares in pursuance of any Instrument made or granted by the Directors while this Resolution is in force,

provided that:

(1) the aggregate number of shares to be issued pursuant to this Resolution (including shares to be issued in pursuance of Instruments made or granted pursuant to this Resolution) does not exceed 50 per cent. of the total number of issued shares (excluding treasury shares) in the capital of the Company (as calculated in accordance with sub-paragraph (2) below), of which the aggregate number of shares to be issued other than on a pro rata basis to shareholders of the Company (including shares to be issued in pursuance of Instruments made or granted pursuant to this Resolution) does not exceed 10 per cent. of the total number of issued shares (excluding treasury shares) in the capital of the Company (as calculated in accordance with sub-paragraph (2) below);

(2) (subject to such manner of calculation and adjustments as may be prescribed by the SGX-ST) for the purpose of determining the aggregate number of shares that may be issued under sub-paragraph (1) above, the percentage of issued shares shall be based on the total number of issued shares (excluding treasury shares) in the capital of the Company at the time this Resolution is passed, after adjusting for:

(i) new shares arising from the conversion or exercise of any convertible securities or share options or vesting of share awards which are outstanding or subsisting at the time this Resolution is passed; and

(ii) any subsequent bonus issue, consolidation or subdivision of shares;

(3) in exercising the authority conferred by this Resolution, the Company shall comply with the provisions of the listing manual of the SGX-ST for the time being in force (unless such compliance has been waived by the SGX-ST) and the Articles of Association for the time being of the Company; and

(4) (unless revoked or varied by the Company in general meeting) the authority conferred by this Resolution shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier.”



(ii) “That approval be and is hereby given to the Directors of the Company to grant awards in accordance with the provisions of the SPH Performance Share Plan (the “SPH Performance Share Plan”) and to allot and issue such number of ordinary shares in the capital of the Company (“Ordinary Shares”) as may be required to be delivered pursuant to the vesting of awards under the SPH Performance Share Plan, provided that the aggregate number of new Ordinary Shares allotted and issued and/or to be allotted and issued, when aggregated with existing Ordinary Shares (including Ordinary Shares held in treasury) delivered and/or to be delivered, pursuant to the Singapore Press Holdings Group (1999) Share Option Scheme and the SPH Performance Share Plan, shall not exceed 10 per cent. of the total number of issued Ordinary Shares (excluding treasury shares) from time to time.”

(iii) “That:

(a) for the purposes of Sections 76C and 76E of the Companies Act, the exercise by the Directors of the Company of all the powers of the Company to purchase or otherwise acquire issued Ordinary Shares not exceeding in aggregate the Maximum Limit (as hereafter defi ned), at such price or prices as may be determined by the Directors of the Company from time to time up to the Maximum Price (as hereafter defi ned), whether by way of:

(i) market purchase(s) on the SGX-ST; and/or

(ii) off-market purchase(s) (if effected otherwise than on the SGX-ST) in accordance with any equal access scheme(s) as may be determined or formulated by the Directors as they consider fi t, which scheme(s) shall satisfy all the conditions prescribed by the Companies Act;

and otherwise in accordance with all other laws and regulations and rules of the SGX-ST as may for the time being be applicable, be and is hereby authorised and approved generally and unconditionally (the “Share Buy Back Mandate”),

(b) unless varied or revoked by the Company in general meeting, the authority conferred on the Directors of the Company pursuant to the Share Buy Back Mandate may be exercised by the Directors of the Company at any time and from time to time during the period commencing from the date of the passing of this Resolution and expiring on the earlier of:

(i) the date on which the next Annual General Meeting of the Company is held; and

(ii) the date by which the next Annual General Meeting of the Company is required by law to be held;




(c) in this Resolution:

“Average Closing Price” means the average of the last dealt prices of an Ordinary Share for the fi ve consecutive trading days on which the Ordinary Shares are transacted on the SGX-ST immediately preceding the date of market purchase by the Company or, as the case may be, the date of the making of the offer pursuant to the off-market purchase, and deemed to be adjusted, in accordance with the listing rules of the SGX-ST, for any corporate action which occurs after the relevant fi ve day period;

“date of the making of the offer” means the date on which the Company announces its intention to make an offer for the purchase or acquisition of Ordinary Shares from holders of Ordinary Shares, stating therein the purchase price (which shall not be more than the Maximum Price calculated on the foregoing basis) for each Ordinary Share and the relevant terms of the equal access scheme for effecting the off-market purchase;

“Maximum Limit” means that number of issued Ordinary Shares representing 10% of the total number of the issued Ordinary Shares as at the date of the passing of this Resolution (excluding any Ordinary Shares which are held as treasury shares as at that date); and

“Maximum Price”, in relation to an Ordinary Share to be purchased or acquired, means the purchase price (excluding brokerage, commission, applicable goods and services tax and other related expenses) which shall not exceed, in the case of a market purchase of an Ordinary Share and off-market purchase pursuant to an equal access scheme, 105% of the Average Closing Price of the Ordinary Share; and

(d) the Directors of the Company and/or any of them be and are hereby authorised to complete and do all such acts and things (including executing such documents as may be required) as they and/or he may consider expedient or necessary to give effect to the transactions contemplated and/or authorised by this Resolution.”

By Order of the Board

Ginney Lim May LingKhor Siew KimCompany Secretaries

Singapore,November 4, 2009

Notes:A Member entitled to attend and vote at the General Meeting is entitled to appoint a proxy to attend and vote in his stead and the proxy need not be a Member of the Company. The instrument appointing the proxy must be lodged at the Company’s Share Registration Offi ce, Tricor Barbinder Share Registration Services (A division of Tricor Singapore Pte. Ltd.), 8 Cross Street, #11-00 PWC Building, Singapore 048424 not less than 48 hours before the time fi xed for the meeting.




EXPLANATORY NOTES & STATEMENT PURSUANT TO ARTICLE 72 OF THE COMPANY’S ARTICLES OF ASSOCIATION

1. In relation to Ordinary Resolution No. 3(i):

• Cham Tao Soon will, upon re-appointment, continue as Deputy Chairman, as Chairman of the Nominating Committee and as a member of the Executive Committee and Remuneration Committee. He is considered an independent Director.

2. In relation to Ordinary Resolution No. 3(ii):

• Ngiam Tong Dow will, upon re-appointment, continue as Chairman of the Remuneration Committee and as a member of the Audit Committee. He is considered an independent Director.

3. In relation to Ordinary Resolution No. 3(iii):

• Yong Pung How will, upon re-appointment, continue as a member of the Nominating Committee. He is considered an independent Director.

4. In relation to Ordinary Resolution No. 4(i):

• Willie Cheng Jue Hiang will, upon re-election, continue as a member of the Audit Committee and Remuneration Committee. He is considered an independent Director.

5. In relation to Ordinary Resolution No. 4(ii):

• Yeo Ning Hong will, upon re-election, continue as Chairman of the Audit Committee and as a member of the Executive Committee. He is considered an independent Director.

6. In relation to Ordinary Resolution No. 4(iii)

• Lucien Wong Yuen Kuai will, upon re-election, continue as a member of the Audit Committee. He is considered an independent Director.

7 The effects of the resolutions under the heading “Special Business” in the Notice of the Twenty-Fifth Annual General Meeting are:

(a) Ordinary Resolution No. 8(i) is to authorise the Directors of the Company from the date of that meeting until the next Annual General Meeting, subject to the provisions of the Newspaper and Printing Presses Act, Chapter 206 of Singapore, to issue shares in the capital of the Company and/or to make or grant instruments (such as warrants or debentures) convertible into shares, and to issue shares in pursuance of such instruments, up to a number not exceeding in total 50 per cent. of the total number of issued shares (excluding treasury shares) in the capital of the Company, of which up to 10 per cent. of the total number of issued shares (excluding treasury shares) in the capital of the Company may be issued other than on a pro rata basis to shareholders. For the purpose of determining the aggregate number of shares that may be issued, the percentage of issued shares shall be based on the total number of issued shares (excluding treasury shares) in the capital of the Company at the time that Ordinary Resolution No. 8(i) is passed, after adjusting for (i) new shares arising from the conversion or exercise of any convertible securities or share options or vesting of share awards which are outstanding or subsisting at the time that Ordinary Resolution 8(i) is passed, and (ii) any subsequent bonus issue, consolidation or sub-division of shares. For the avoidance of doubt, any consolidation or sub-division of shares in the capital of the Company will require shareholders’ approval.




(b) Ordinary Resolution No. 8(ii) is to empower the directors to offer and grant awards, and to allot and issue new ordinary shares in the capital of the Company, pursuant to the SPH Performance Share Plan (which was approved by shareholders at the Extraordinary General Meeting held on 5 December 2006), provided that the aggregate number of new ordinary shares allotted and issued and/or to be allotted and issued, when aggregated with the existing ordinary shares (including ordinary shares held in treasury) delivered and/or to be delivered, pursuant to the Singapore Press Holdings Group (1999) Share Option Scheme and the SPH Performance Share Plan, shall not exceed 10 per cent. of the total number of issued ordinary shares in the capital of the Company (excluding ordinary shares held in treasury) from time to time.

(c) Ordinary Resolution No. 8(iii) is to renew the mandate to permit the Company to purchase or acquire issued ordinary shares in the capital of the Company on the terms and subject to the conditions of the Resolution.

The Company may use internal sources of funds, or a combination of internal resources and external borrowings, to fi nance the purchase or acquisition of its ordinary shares. The amount of funding required for the Company to purchase or acquire its ordinary shares, and the impact on the Company’s fi nancial position, cannot be ascertained as at the date of this Notice as these will depend on the number of ordinary shares purchased or acquired and the price at which such ordinary shares were purchased or acquired and whether the ordinary shares purchased or acquired are held in treasury or cancelled.

The fi nancial effects of the purchase or acquisition of such ordinary shares by the Company pursuant

to the proposed Share Buy Back Mandate on the audited fi nancial accounts of the Company and its subsidiaries for the fi nancial year ended 31 August 2009, based on certain assumptions, are set out in paragraph 2.6 of the Letter to Shareholders dated 4 November 2009, which is enclosed together with the Summary Financial Report.




EXECUTIVE COMMITTEE

Tony Tan Keng Yam (Chairman)Cham Tao SoonChan Heng Loon AlanSum Soon LimYeo Ning Hong

NOMINATING COMMITTEE

Cham Tao Soon (Chairman)Tony Tan Keng YamNg Ser MiangYong Pung How

REMUNERATION COMMITTEE

Ngiam Tong Dow (Chairman)Tony Tan Keng YamCham Tao SoonWillie Cheng Jue Hiang

AUDIT COMMITTEE*

Yeo Ning Hong (Chairman)Willie Cheng Jue HiangNgiam Tong DowLucien Wong Yuen Kuai#

AUDITORS

PricewaterhouseCoopers LLP8 Cross Street, #17-00PWC BuildingSingapore 048424

AUDIT PARTNER:

Ooi Chee Kar(Appointed in 2008)

COMPANY SECRETARIES

Ginney Lim May LingKhor Siew Kim

REGISTERED OFFICE

1000, Toa Payoh NorthNews CentreSingapore 318994Tel: (65) 6319 6319Fax: (65) 6319 8282Email: [email protected]. 198402868E

SHARE REGISTRATION OFFICE

Tricor Barbinder Share Registration Services(A division of Tricor Singapore Pte Ltd)8 Cross Street, #11-00PWC BuildingSingapore 048424Tel: (65) 6236 3333

* Dr Philip N Pillai stepped down from the Audit Committee with effect from September 30, 2009# Mr Lucien Wong Yuen Kuai was appointed to the Audit Committee on October 15, 2009

CORPORATE INFORMATION



PROXY FORMSingapore Press Holdings Limited (Incorporated in Singapore) Co. Reg. No. 198402868E

I/We,

of being a member/members of the above named Company, hereby appoint the Chairman of the Meeting, or

Name AddressNRIC/Passport

NumberProportion of

Shareholdings (%)

and/or (delete as appropriate)

as my/our proxy/proxies to attend and to vote for me/us on my/our behalf and, if necessary, to demand a poll, at the Annual General Meeting of the Company to be held at The Auditorium, 1000 Toa Payoh North, News Centre, 1st Storey, Annexe Block, Singapore 318994 on December 4, 2009 at 10.30 a.m. and at any adjournment thereof.

(Please indicate with an “X” in the spaces provided whether you wish your vote(s) to be cast for or against the Resolutions as set out in the Notice of Annual General Meeting. Alternatively, please indicate the number of votes as appropriate. In the absence of specifi c directions, the proxy/proxies will vote or abstain as he/they may think fi t, as he/they will on any other matter arising at the Annual General Meeting.

No. Resolution

To be used on a Show of Hands

To be used inthe event of a Poll

For Against

No. of votes No. of votes

For Against

Ordinary Business

1. To adopt Directors’ Report and Audited Accounts

2. To declare a Final Dividend and a Special Dividend

3. To re-appoint Directors pursuant to Section 153(6) of the Companies Act, Cap. 50

(i) Cham Tao Soon

(ii) Ngiam Tong Dow

(iii) Yong Pung How

4. To re-elect Directors: (i) Willie Cheng Jue Hiang

(ii) Yeo Ning Hong

(iii) Lucien Wong Yuen Kuai

5. To approve Directors’ fees

6. To appoint Auditors and authorise Directors to fi x their remuneration

7. To transact any other business

Special Business

8. (i) To approve the Ordinary Resolution pursuant to Section 161 of the Companies Act, Cap. 50

(ii) To authorise Directors to grant awards and to allot and issue shares in accordance with the provisions of the SPH Performance Share Plan

(iii) To approve the renewal of the Share Buy Back Mandate

Dated this day of 2009

Signature(s) of Member(s) or Common Seal

Total Number ofOrdinary Shares held

Total Number ofManagement Shares held

IMPORTANT 1. For investors who have used their CPF monies to buy

shares of Singapore Press Holdings Limited, this Report is forwarded to them FOR INFORMATION ONLY.

2. This proxy form is not valid for use by CPF investors and shall be ineffective for all intents and purposes if used or purported to be used by them.

IMPORTANT: PLEASE READ NOTES ON THE REVERSE



IMPORTANT

Note:1. Please insert the total number of ordinary shares and/or management shares (“Shares”) held by you. If you

have ordinary shares entered against your name in the Depository Register (as defi ned in Section 130A of the Companies Act, Chapter 50 of Singapore), you should insert that number of ordinary shares. If you have Shares registered in your name in the Register of Members, you should insert that number of Shares. If you have ordinary shares entered against your name in the Depository Register and Shares registered in your name in the Register of Members, you should insert the aggregate number of Shares entered against your name in the Depository Register and registered in your name in the Register of Members. If no number is inserted, the instrument appointing a proxy or proxies shall be deemed to relate to all the Shares held by you.

2. If any proxy other than the Chairman of the Meeting is to be appointed, please strike out the words“the Chairman of the Meeting” and insert the name and address of the proxy desired in the box provided. If the box is left blank or incomplete, the Chairman of the Meeting shall be deemed to be appointed as your proxy.

3. A Member of the Company entitled to attend and vote at a meeting of the Company is entitled to appoint one or two proxies to attend and vote instead of him.

4. Where a Member appoints two proxies, the appointments shall be invalid unless he specifi es the proportion of his shareholding (expressed as a percentage of the whole) to be represented by each proxy.

5. The instrument appointing a proxy or proxies must be deposited at the Share Registration Offi ce of the Company at Tricor Barbinder Share Registration Services (A division of Tricor Singapore Pte. Ltd.), 8 Cross Street #11-00, PWC Building, Singapore 048424, not less than 48 hours before the time appointed for the Annual General Meeting.

6. The instrument appointing a proxy or proxies must be under the hand of the appointor or of his attorney duly authorised in writing. Where the instrument appointing a proxy or proxies is executed by a corporation, it must be executed either under its seal or under the hand of an offi cer or attorney duly authorised.

7. A corporation which is a Member may authorise by resolution of its directors or other governing body such person as it thinks fi t to act as its representative at the Annual General Meeting, in accordance with Section 179 of the Companies Act, Chapter 50 of Singapore.

8. The Company shall be entitled to reject the instrument appointing a proxy or proxies if it is incomplete, improperly completed or illegible or where the true intentions of the appointor are not ascertainable from the instructions of the appointor specifi ed in the instrument appointing a proxy or proxies. In addition, in the case of ordinary shares entered in the Depository Register, the Company may reject any instrument appointing a proxy or proxies lodged if the Member, being the appointor, is not shown to have ordinary shares entered against his name in the Depository Register as at 48 hours before the time appointed for holding the Annual General Meeting,as certifi ed by The Central Depository (Pte) Limited to the Company.

PROXY FORMSingapore Press Holdings Limited (Incorporated in Singapore) Co. Reg. No. 198402868E



REQUEST FORMSingapore Press Holdings Limited (Incorporated in Singapore) Co. Reg. No. 198402868E

November 4, 2009

Dear Shareholder

This Annual Report comprises two separate reports:

(i) the Summary Financial Report which contains a review of the Singapore Press Holdings Limited (“SPH”) Group for the fi nancial year ended August 31, 2009, the Directors’ Report and a summary of the audited fi nancial statements of the Company and the Group; and

(ii) the Annual Report which contains the full fi nancial statements of the Company and the Group for the fi nancial year ended August 31, 2009

The Summary Financial Report is automatically provided (unless instructed otherwise) to all existing shareholders. The Annual Report is provided at no cost upon request.

For shareholders who are receiving this Summary Financial Report for the fi rst time, or who did not respond previously, if you wish to receive a copy of the Annual Report for FY 2009, and for future fi nancial years as long as you are a shareholder, please complete the request form below by ticking the appropriate box and returning it to SPH c/o Tricor Barbinder Share Registration Services by November 12, 2009. If we do not receive your request form, it would indicate that you do not wish to receive copies of the Annual Report for FY 2009 and for future fi nancial years.

For shareholders who have indicated to us previously that you wish to receive the Annual Report for as long as you are a shareholder, you may change your instructions by ticking the relevant box in the request form below and returning it to SPH c/o Tricor Barbinder Share Registration Services by November 12, 2009. If we do not receive your request form, it would indicate that there is no change to your instructions.

Your latest request will supersede the earlier requests received by us.

Please note that the Annual Report for FY 2009 will also be available at the Company’s website www.sph.com.sg

Yours faithfully,For and on behalf ofSingapore Press Holdings Limited

Ginney Lim May LingKhor Siew KimCompany Secretaries

To: Singapore Press Holdings Limited

N.B. Please tick one box only. An incomplete or improperly completed request will not be processed.

Please send me a copy of the Summary Financial Report for future fi nancial years and for as long as I am an SPH shareholder.

Please send me a copy of the Annual Report, in addition to the Summary Financial Report, for the fi nancial year ended August 31, 2009 and for as long as I am an SPH shareholder.

I do not wish to receive copies of the Summary Financial Report or the Annual Report, for the fi nancial year ended August 31, 2009, and for as long as I am an SPH shareholder.

Name of Shareholder

NRIC/Passport Number CDP Securities Account No.

Mailing Address

Signature

Date



First fold here

Second fold here

Fold along this line and glue overleaf

BUSINESS REPLY SERVICEPERMIT NO. 07859

Singapore Press Holdings LimitedTricor Barbinder Share Registration Services

(A division of Tricor Singapore Pte. Ltd.)8 Cross Street #11-00, PWC Building

Singapore 048424

Postage will be

paid by addressee.

For posting in

Singapore only.


Printed by SPH on UNISET press at Media Centre


SINGAPORE PRESS HOLDINGS LIMITED1000 TOA PAYOH NORTHNEWS CENTRESINGAPORE 318994

www.sph.com.sgCO. REG NO. 198402868E


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