Then Transport Minister Khaw Boon Wan speaking to media on 6 February 2020 during a visit to Changi Airport. Singapore Press Holdings’ not-for-profit media businessDelivering his Ministerial Statement, Iswaran said he has discussed the proposed restructuring of SPH’s media business into a not-for-profit entity and a company limited by guarantee with management shareholders.
“They have all agreed that, given the national importance of this undertaking and the scale of the challenge, the chairman should be Mr Khaw Boon Wan. With his high standing and more than 25 years of public service experience in various senior appointments, Mr Khaw will be able to provide strong strategic leadership for the CLG.”
At the press conference last Thursday, SPH announced plans to restructure its media business as a CLG. Such a model will allow the media business to receive funding from private and public sources, including financial support from the government. The move to restructure SPH's media business comes as its core segment's revenue and profit continued to plunge amid falling advertisement revenue.
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