Last month, the Singapore Press Holdings (SPH) announced that it posted a net loss of S$83.7 million for the financial year of 2020, which ended on 31 August (‘SPH CEO says company’s net loss due to COVID-19 while share price dives to nearly $1‘).

The net loss, which is the company’s first-ever, is in contrast with a net profit of S$213.2 million a year ago. SPH’s revenue from media advertising declined by a staggering 31.4 per cent. Revenue for the media business also shrank by 22.8 per cent.