SPEECH BY DR LEE BOON YANG, CHAIRMAN, SINGAPORE PRESS HOLDINGS AND SPH FOUNDATION AT THE JOINT SPH AND SPH FOUNDATION SCHOLARSHIP AWARDS 2014 HELD ON MONDAY, 21 JULY 2014, AT 10.00AM AT THE SPH NEWS CENTRE AUDITORIUM Ladies and Gentlemen, Good morning. Let me extend a warm welcome to all of you to the 2014 SPH and SPH Foundation Scholarship Awards Presentation Ceremony. First, I must congratulate this year s scholarship recipients as you embark on a new chapter in your lives. Your acceptance of our scholarship signifies the beginning of a long and mutually rewarding relationship with SPH. Besides scholarship recipients, I would also like to congratulate the parents and teachers present this morning. Thanks to their care, love and nurturing, all the recipients have achieved this important milestone.
2 The media industry in transition SPH s traditional newspaper publishing operation is evolving rapidly to cope with a growing digital and social media landscape. The availability of alternative news sources and the changing media consumption habits are challenges that we have to deal with. Instead of just sitting back and reacting to digital competition, we have aggressively transformed SPH to better serve our consumers in print, online and mobile. Hence, we set up a new Digital Division earlier this year. This new Digital Division offers a multitude of digital offerings and aims to be a one-stop solution to both advertisers and readers. Our flagship English and Chinese dailies, namely The Straits Times and Lianhe Zaobao, have gone fully multi-media. Berita Harian, The Business Times, The New Paper, bilingual freesheet My Paper, and our evening daily Lianhe Wanbao have also embarked on All-in-One strategies to encompass print, mobile, online, enhanced with video and social media in their offerings. Our
Tamil daily, Tamil Murasu, offers an e-paper option for those on the move. Today, we not only publish and print newspapers, we offer all our news and our media products to consumers digitally anywhere, anytime and on any device. Our magazine business has grown to over 100 magazine titles in the Asia Pacific Region, with many titles available on digital platforms. SPH s Joint Venture Internet classified sites are continuing to grow in the region, particularly Malaysia and Vietnam, with presence in Indonesia and the Philippines. Over the years, SPH has invested in new growth sectors beyond our core media business. In the property sector, The Seletar Mall, our latest retail development, is slated to open at the end of this year. Our Exhibition and Conference business have organised more than 30 exhibitions and conferences in Singapore, Malaysia, Myanmar and the Philippines each year. 3
4 We are confident that SPH is well positioned to tackle the competition and challenges ahead. Talent will remain at the heart of our strategy. SPH will continue to invest in talent to help us deliver high quality products that will continuously engage the minds and enrich the lives of readers and consumers. Let me share with you briefly the experience of two SPH journalism scholars who are now assigned to work in our newsrooms. Lisabel Ting The Straits Times Lisabel Ting received her Bachelor of Science (Psychology) degree from University College London in 2011. A year later, she did her Masters in Advanced Neuroimaging at the same university. In the newsroom, she covers theatre and dance with The Straits Times Life! Section, and does extensive work on reviews, previews and features. Lisabel was the journalist who broke the story on MDA s term licensing scheme, and how the arts community responded. That story became a cover story in the Home section.
5 Covering a wide variety of news has made Lisabel more resourceful, analytical and tenacious in pursuing new leads. Last year, she won the Newscom Special Award for Excellence, on her story about Gillman Barracks ("Mixed Reviews/Gillman Needs Work", Sept 3 2013). Loh Woon Yen Lianhe Zaobao A graduate of Lancaster University, Woon Yen holds a degree in Accounting & Finance (First Class Honours). She is also a CFA Charter holder. Woon Yen was a banking and corporate news journalist with Lianhe Zaobao s Business desk. She is now Zaobao s Business Editor. She covered major banking news, corporate developments and Free Trade Agreements, including the consolidation of local banks and the China Aviation Oil s trading scandal some years back. Through her work, Woon Yen gained a broad perspective of the corporate and financial sector in Singapore, as well as developed the ability to
6 multitask and to work effectively under pressure. She was awarded Most Promising Journalist by Securities Investors Association (Singapore) in 2002. I hope that today s scholarship recipients will look at Lisabel and Woon Yen as role models for your own journey to become successful journalists in the future. SPH Foundation Lim Kim San Memorial Scholarships When it was first launched in 2006, the SPH Foundation Lim Kim San Memorial Scholarship awards were presented to students from modest backgrounds pursuing full-time language studies at local universities. Since its inception, 53 students have been awarded the bond free scholarships. The Scholarship awards were extended to local undergraduates reading humanities last year, in addition to language studies. This was to mark SPH Foundation s 10 th anniversary.
As with past recipients, this year s 10 recipients have proven that their humble backgrounds are no obstacles in their pursuit of academic excellence and active participation in community service. I would like to acknowledge and congratulate this year s scholarship recipients for their outstanding achievements. Scholarships to children of SPH staff and news vendors In addition to awarding scholarships for journalism and under the Lim Kim San Memorial Scholarship, SPH also recognises the academic achievements of children of our staff and news vendors. Today, we will be presenting 14 scholarships to allow them to pursue their studies at our local junior colleges, polytechnics and universities. My heartiest congratulations to these scholarship recipients too. I would also like to acknowledge the service and contributions of their parents, who are our staff and our news vendors. Their dedication and 7
hard work are vital to the company's growth and success. 8 Conclusion Today marks a special day for all our scholarship recipients as you take the first step towards a new and exciting journey. Over the next few years, the education and knowledge you receive will change your lives, broaden your minds and open up tremendous opportunities. I wish you every success in your studies and careers. Thank you. 11.7.14