|Singapore, March 7, 2006 - Singapore Press Holdings Ltd ("the Company") wishes to announce that wholly-owned subsidiary, SPH Magazines Pte Ltd ("SPHM")'s Chief Executive Officer, Mr David Tay will be retiring on 31 May 2006 to pursue his personal interests.
The Board of Directors wishes to acknowledge and thank Mr Tay for his 27 distinguished years of service with the Company and its subsidiaries. Through his leadership, SPHM has bridged many thresholds by raising the standards of magazine publication and the visibility of several magazines in the international arena.
The SPHM Board has appointed Mr Loh Yew Seng, currently the Chief Financial Officer for Magazines Business Group, as the Chief Executive Officer, SPH Magazines Pte Ltd. Mr Loh's appointment will take effect from 1 June 2006. In the meantime, he will cover the duties of Mr Tay whenever he is on leave.
Mr Loh, aged 35, is also Vice-President, Finance of SPH. Prior to joining the Company in July 2001, he held notable corporate finance and financial analyst positions in Banque International a Luxembourg, Van der Horst Limited and Visa International. He began his career in 1994 with Arthur Andersen. Mr Loh holds a Bachelor of Accountancy, Honours (Second Class, Upper) from Nanyang Technological University and has been a Chartered Financial Analyst since 1999.
The Company wishes Mr Tay all the best in his future endeavours and good health during his retirement, and SPH Magazines Pte Ltd continued success under the new management.
Issued by : Singapore Press Holdings Ltd