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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Singapore Press Holdings Limited    SPRM   SG1P66918738

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Singapore Press : SPH acquires Pacom Media to grow SPH Golf

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08/26/2016 | 01:30pm CEST

Singapore, 26 August 2016- Singapore Press Holdings Limited (SPH) today announced that it has completed the acquisition of the business assets of Pacom Media Pte Ltd (Pacom Media), a Singapore-based media company with a niche focus on golf. The assets are now part of SPH's wholly-owned subsidiary, SPH Pacom Pte Ltd (SPH Pacom).

Founded in 1982, Pacom Media has been helmed by Ms Karen Chan, its Managing Director since 1999. Ms Chan, who was also the sole shareholder of Pacom Media, is now Managing Director of SPH Pacom.

With the acquisition, SPH Pacom now owns the Golf Vacations magazine and franchises for the magazine in countries including China, Hong Kong, Malaysia and Thailand. Golf Vacations is the leading luxury lifestyle golf magazine in Singapore. Besides publishing, SPH Pacom is one of the leading golf events organisers in Singapore. The major brands it organises events for include Rolex, Jaguar, CIMB Preferred Bank, ANZ Bank, Macallan and Tag Heuer.

Also acquired is the recently introduced golf/WOMEN, a golf magazine which caters exclusively to the modern women golfers and covers fashion, travel and the latest digital gadgets, as well as media representation rights to titles such as The Nikkei and the Singapore Island Country Club's magazine, Islander.

The acquisition of Pacom Media will complement SPH Golf, a unit under SPH's English/Malay/Tamil Media Group which produces monthly golf specials in The Straits Times, The Business Times and The New Paper. The monthly special 'Swing' carries content from Golf Digest, the world's leading golf magazine as well as write-ups by some of Singapore's best known golf writers and commentators. SPH Golf also runs golf events such as the SPH World Amateur Golfers Championship and The Business Times' Corporate Golf League.

Mr S Murali, General Manager of SPH Golf, said: 'The acquisition of Pacom Media, which has a leadership position in the areas of golf events and publications, offers us a springboard into golf business adjacencies such as travel, handicapping services and tee-time booking, and will give us a foothold to expand our revenue streams in the local golf market. Synergising both business profiles, we are well-positioned to grow SPH Golf not just in Singapore but also in the region beyond.'

Pacom Media's Karen Chan, now Managing Director of SPH Pacom, said: 'We are very excited to be part of the SPH family. It's a milestone for Golf Vacations after 29 years in publication and with this acquisition, Golf Vacations will strengthen its position even further as the market leader in golf publishing, events as well as digital offering. We are also looking at expanding the current list of media represented titles which includes the highly reputable NIKKEI newspaper.'

Issued by Singapore Press Holdings Ltd
Co. Regn. No. 198402868E

For more information, please contact:

Ms Chin Soo Fang
Head
Corporate Communications & CSR
Singapore Press Holdings
Tel: 6319 1216
Email: soofang@sph.com.sg

Ms Chua Pei Ling
Executive
Corporate Communications & CSR
Singapore Press Holdings Limited
DID: 6319 1895
Email: plchua@sph.com.sg

About Singapore Press Holdings Ltd

Incorporated in 1984, main board-listed Singapore Press Holdings Ltd (SPH) is Asia's leading media organisation, engaging minds and enriching lives across multiple languages and platforms.

Media The English/Malay/Tamil Media group (EMTM) comprises the print and digital operations of The Straits Times, The Business Times, The New Paper, Berita Harian, My Paper (English section) and their respective student publications It also includes subsidiaries Tamil Murasu Ltd, which publishes Tamil Murasu and tabla!; book publishing arm Straits Times Press; SPH Data Services, which licenses the use of the Straits Times Index in partnership with the Singapore Exchange and FTSE-Russell Ltd; financial data company ShareInvestor; and the two English stations of SPH Radio - Kiss92 and ONE FM 91.3.

The Chinese Media group (CMG) publishes three Chinese newspapers in print and digital format - Lianhe Zaobao, Lianhe Wanbao and Shin Min Daily News; four student weeklies - zbCOMMA, Thumbs Up, Thumbs Up Junior and Thumbs Up Little Junior, ZBBZ Newsgazine and My Paper (Chinese section). It also operates SPH Radio's Chinese radio station, UFM100.3, and Focus Publishing, which produces a range of books and magazines including U-Weekly.

SPH's other new media initiatives include AsiaOne, Stomp, zaobao.sg, omy.sg and SPH Razor.
On an average day, 2.8 million* individuals or 68 per cent of people above 15 years old, read one of SPH's news publications in print copies or one of our digital platforms. (* Nielsen Media Index 2015, Monday-Sunday, read any SPH newspapers in print or digital format)

SPH Magazines, SPH's wholly-owned subsidiary, publishes and produces more than 100 magazine titles and has various online sites, like hardwarezone.com, herworldplus.com and luxuryinsider.com in Singapore and the region, covering a broad range of interests from lifestyle to information technology. It has also invested in digital newsstand Magzter.

SPH also provides out-of-home (OOH) advertising options where it manages large format screens and static billboards at key locations in the Central Business District, Orchard Road, City Fringe as well as major heartland hubs.

SPH Buzz is a modern retail convenience chain with a network of stores around the island.

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

PropertiesSPH REIT is a Singapore-based REIT established to invest in a portfolio of income-producing real estate primarily for retail purposes. SPH REIT comprises Paragon, a premier upscale retail mall and medical suite/office property in Orchard Road and The Clementi Mall, a mid-market suburban mall in the centre of Clementi town.

The Seletar Mall, located in Sengkang, is SPH's latest retail development. This property is a potential asset to be injected into SPH REIT. SPH's wholly-owned subsidiary, Times Development Pte Ltd, also developed a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road.

Other Businesses

Online Classified

SPH's online classifieds include the leading online marketplace for jobs (STJobs, FastJobs), property (STProperty), cars (STCars) and general classifieds (STClassifieds,Trezo), sgCarMart and StreetSine.

SPH's regional joint venture online classified business has a number of leading online classified sites in the region.

Events and ExhibitionsSphere Exhibits, Sphere Conferences, Exhibits Inc and Bizlink Exhibition Services organise innovative consumer and trade events and exhibitions as well as large scale conferences in Singapore and the region.

EducationSPH has a 22 per cent stake in preschool and enrichment provider MindChamps.

For more information, please visit www.sph.com.sg.

SPH - Singapore Press Holdings Ltd. published this content on 26 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 August 2016 11:29:09 UTC.

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Financials ( SGD)
Sales 2016 1 147 M
EBIT 2016 355 M
Net income 2016 265 M
Debt 2016 781 M
Yield 2016 5,08%
P/E ratio 2016 22,14
P/E ratio 2017 21,76
EV / Sales 2016 5,97x
EV / Sales 2017 5,98x
Capitalization 6 066 M
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Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 3,42  SGD
Spread / Average Target -9,7%
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NameTitle
Heng Loon Chan CEO, COO & Non-Independent Executive Director
Boon Yang Lee Chairman
Anthony Mallek Chief Financial Officer
Huan Ping Low Executive Vice President-Technology
Yuen Kuai Wong Independent Non-Executive Director
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