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SPH to set up Charity Foundation

SINGAPORE, November 26th - Singapore Press Holdings Limited is to set up a charity Foundation as part of its broadening corporate social responsibility to help build a learning community in Singapore.

Announcing this in his statement to shareholders in the SPH’s 2002 annual report, Executive Chairman Lim Kim San said that the Group would seed an initial $20 million to the yet-to-be-named Foundation to support a range of language enrichment and community projects that promote creativity, healthy living and sports.

The Group hopes to build up the Foundation’s fund over time, through periodic contribution of its profits.

The proposed Foundation has been given in-principle approval by the SPH Board. Details are being finalised and the Group hopes to establish it by early next year after obtaining approval from the relevant authorities.

Mr Lim said the Foundation would be a tacit recognition of the strong role the community had played in building up the SPH business.

"SPH has benefited from the support of the community. It is appropriate, therefore, that we reciprocate to help build a learning community in Singapore,’’ he said.

The Foundation underscores SPH’s commitment to be a more involved corporate citizen in fostering community spirit.

Mr Lim noted that in a globalised economy, more is being expected today of companies as corporate citizens and businesses around the world are doing more to fulfil their social responsibilities to help improve the lives of the communities they operate in.

"Large multinational corporations and small businesses alike increasingly realise that healthy companies need healthy communities,’’ he added. "Corporate citizenship is now a strategic priority for companies.’’

Presently, the Group supports and contributes to various forms of charity and community programmes.

Issued by Singapore Press Holdings Limited

For more information, please contact:

Irene Ngoo
Assistant Vice President
Corporate Relations
Tel: 63191216
Fax: 63198150

Main board listed Singapore Press Holdings Limited is the leading news and information provider, offering quality content for print, Internet, TV and radio. It is licensed to publish 15 newspapers in the four official languages and six lifestyle periodicals. Everyday, 2.78 million individuals, or 90 per cent of people above 15 years old, read one of 15 newspapers published by SPH while online publication of its six main dailies enjoy some 120 million pageviews a month. SPH has ventured into the broadcast medium and operates two popular free-to-air TV channels, Channel U in Chinese and Channel i in English.