SPH undertakes strategic review of business
The media giant says it is trying to maximise long-term shareholder value.
Following high net income figures for the first half of the year, Singapore Press Holdings (SPH) has announced that it is undergoing a strategic review.
"While SPH’s Media business continues to face a challenging operating environment and outlook, the Board of Directors believes that SPH remains undervalued and the objective of the strategic review is to unlock and maximise long term shareholder value," it said in a statement.
Credit Suisse (Singapore) Limited will work as the financial advisor for this undertaking.
While this is going on, SPH has advised its shareholders to exercise caution when dealing with company shares.
"There is no assurance that such review will result in any transaction, or that any definitive or binding agreement will be reached.SPH will, in compliance with applicable rules, make further announcements as appropriate," it added.