SPH has $1.2b war chest to invest in new projects
Group's 35% gearing gives it substantial borrowing capacity, CEO Alan Chan tells shareholders at AGM
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Singapore
SINGAPORE Press Holdings (SPH) is in a strong financial position to tap new growth opportunities as the media group navigates new battlefields in a changing media landscape, said its top management on Tuesday.
"Shareholders may wish to note that actually we have a treasury of S$1.2 billion, so this is really our 'war chest' that enables us to invest in new projects," said chief executive officer Alan Chan at Tuesday's annual general meeting to a floor of around 720 shareholders. "Our gearing ratio is currently at 35 per cent, so actually that gives us still a lot of borrowing capacity," he added.
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