Retail News CRM

Tag: SPH

  • FairPrice Finest launches in-store radio network with SPH

    FairPrice Finest launches in-store radio network with SPH

    Singapore supermarket chain FairPrice Finest has launched an in-store radio network in partnership with SPH Radio.

    The new channel, live in all 26 stores, will offer FMCG companies another channel in which to advertise to shoppers in-store, as well as music and content from SPH radio stations.

    The station will reach an estimated 2.5 million shoppers every month.

    “Partnering with SPH Radio will not only help us improve our shopper experience via aural ambiance but also provide a wider range of touchpoints for our retail partners to engage with our shoppers in an integrated manner,” said Kelvin Tan, head of customer & marketing (retail business), at FairPrice Group.

    “As Singaporeans are making more frequent trips for their groceries, this will be a viable platform for our retail partners to reach shoppers in their shopping journey.”

    The new channel marks SPH Radio’s first foray into in-store entertainment programming.

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  • Singapore telco M1’s suitors say they won’t raise offer price

    Singapore telco M1’s suitors say they won’t raise offer price

    Singapore conglomerate Keppel Corp and Singapore Press Holdings (SPH) said they will not raise their offer price to gain majority control of mobile operator M1 Ltd, a move that could put pressure on Axiata Group, M1’s single largest shareholder. Keppel and SPH, which together control 34.3% of Singapore’s smallest mobile operator, said in September they would offer S$2.06 (RM6.25) per share for majority ownership of M1 in a bid to support its falling share price and restructure the firm to better compete against sector rivals.

    “The offeror wishes to announce that it does not intend to increase the offer price of S$2.06 in cash per offer share under any circumstances whatsoever,” Keppel and SPH said in a regulatory announcement issued by their jointly-owned holding company. The closing date was extended to Feb 18 from Feb 4. M1 has a total market value of S$1.92 billion.

    Malaysia’s Axiata, which holds a 28.3% stake in M1, said in September the offer should reflect the accurate future value of M1, inclusive of an acceptable control premium and consistent with market standards.

    Axiata said at the time it was working with an adviser and was reviewing its options. As quoted, Axiata viewed the offer price as “inadequate”.

    In response to a query, Axiata said it would not comment on a statement. “Axiata will make any necessary announcements as required and in due time,” it said.

    Since the September announcement, M1’s shares have rallied 26% to trade at S$2.05 this week but are little changed over the past two years and have lost 49% from a record high of S$3.99 in early 2015.

    Mobile telecoms competition is heating up in Singapore, with Australia’s TPG Telecom planning to launch a new service after winning a licence to become the city-state’s fourth telecom operator. Analysts consider M1 to be the most vulnerable to new competition.

    In July 2017, Axiata, Keppel and SPH had considered, and then called off a strategic review of their M1 shareholding, which sources said was due to a lower-than-expected offer from external parties.

  • SPH Reit keen on Seletar Mall

    SPH Reit keen on Seletar Mall

    Shareholders at the SPH Reit annual general meeting yesterday asked if the real estate investment trust sponsored by media group Singapore Press Holdings (SPH) would add Seletar Mall to its portfolio.

    The threat of online shopping was among other queries during the 90-minute meeting.

    In response, chairman Leong Horn Kee said the Reit is always on the lookout for accretive yield.

    He said the Reit, whose portfolio comprises Paragon and The Clementi Mall, is interested in Seletar Mall, which is now owned by SPH, but the question is when SPH wants to sell it and, more importantly, at what price.

    As for the rise of online shopping and e-commerce, 
Dr Leong said that while this trend is getting more prominent, brick-and-mortar stores are still relevant, given that consumers still prefer to feel and look at the actual product before purchase.

    In his opening remarks, 
Dr Leong also said that the retail environment remains challenging amid the economic slowdown in Singapore and the uncertainties of the global environment.

    “Consumers’ sentiment is muted. Retailers are also facing structural impediments such as labour constraints and competition from e-commerce,” said Dr Leong.

    He added that the Reit would continue to seek chances to create value and strengthen long-term sustainability of the properties.

    About 150 shareholders attended the meeting and all resolutions raised were passed.

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