HONG KONG: ‘Zero Tolerance’ For Listco Irregularities

[Qiaofeng]

property is likely to become the largest slice of sph's income in the future.
sorry to off-topic!

Food for thots ...
Can SPH ever become successful as a REIT or as a developer or a convention organiser? i.e. to the point where it replaces the print media as a core biz?
If they do, other developers/REITs etc will cry afoul becos the special super management voting rights confer access to a monopoly; a source of unfair competitive edge; the access to free cashflow from a high margin biz. So to avoid complications, these bizs will always be non-core side-bizs.
Yet, as shown in the US or UK and much of the developed world, the print media is on an inevitable decline; even for the No1s and No 2s.
So the diversification process to find other alternative core bizs is essential, yet is hampered by the ownership of the "management shares".

For the present, SPH core biz of print media is still a very profitable biz, giving FCF and high divd yields, so these are non issues.

But be wary of the changing landscapes....

My 1c Gibberish.
and I hope not too out-of-topic.