Disruption of media industry keeps SPH on ‘hold’ despite Bidadari win

SINGAPORE (June 23): OCBC is maintaining its “hold” call on Singapore Press Holdings (SPH) with a lower fair value of $3.34 as conditions are expected to remain challenging for the group’s media business despite its recent property tender win.

SPH along with its JV partner Kajima Development, has been awarded the HDB tender for a 99-year leasehold site at Upper Serangoon Road for $1.132 billion.

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