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CNA
2 days ago
- Business
- CNA
M1's journey: From its bright beginnings to delisting and its proposed sale
SINGAPORE: When M1 launched in 1997, the telco's popularity grew quickly – within a month, it had captured 10 per cent of the market share, or 35,000 subscribers. The company, which started life as MobileOne – a consortium formed by Keppel, Singapore Press Holdings (SPH), Cable & Wireless and Hong Kong Telecom – was the second telco in Singapore. Its market share ballooned to a third in the next five years, with about 1 million subscribers. It launched an initial public offering and became a publicly listed company on the Singapore Exchange (SGX) in 2002. The company was valued at between S$1.2 billion and S$1.5 billion then, making it the biggest share offering since 1999. But it has not always been smooth sailing for M1, as it struggled with increased competition. On Monday (Aug 11), Keppel announced that it would sell M1's telecom operations to Simba Telecom for an enterprise value of S$1.43 billion (US$1.11 billion). M1 currently has 13.5 per cent of Singapore's prepaid mobile market, 23.9 per cent of the postpaid mobile market and 15 per cent of the broadband market, according to a regulatory filing on the Australian Securities Exchange by Simba's owner, Australian-listed Tuas. The company made significant inroads in its first two decades of service. In 2005, M1 launched consumer 3G services – the first operator in Singapore to do so. That same year, Malaysian telecommunications conglomerate Axiata bought a 12.1 per cent stake in the company for S$260.8 million. Over the next few years, it became the first in Singapore to launch an islandwide wireless broadband service as well as Southeast Asia's first 4G network. M1 shares hit a high of S$3.99 in March 2015, but competition was never far away. StarHub entered the market in 2000 as Singapore's third telco, followed in 2016 by TPG Telecom, which would become Simba. The country also opened up to mobile virtual network operators (MVNOs), and contestation grew. The competition took its toll, and a year later, M1 shares had almost halved in value. Reuters reported that M1's shareholders – SPH, Keppel and Axiata – had approached China Mobile to sell their majority stake. More reports emerged that Chinese companies Shanxi Meijin Energy and China Broadband Capital were preparing to make separate bids for M1. None of those deals materialised. BUYOUT AND DELISTING By September 2018, M1's share price had dropped by almost 60 per cent since its high in 2015. That same month, Keppel and SPH offered to buy shares they did not already own in M1. The companies said then the move was to 'arrest the decline in M1 shareholder value through a combination of transformational efforts which are expected to take several years'. The deal would allow M1 to cooperate further with other Keppel units and allow SPH to provide digital content through M1's mobile platform, the companies said. At that point, the companies valued the telco at S$1.9 billion. In December, Keppel and SPH announced their 'firm intention' to make a voluntary general offer. By January 2019, the two companies launched an offer to buy out majority shareholder Axiata and gain control of M1. That offer was accepted the following month and it sold its 28.7 per cent stake. It meant Keppel and SPH collectively owned 90.15 per cent of M1's shares. To be listed on the stock exchange, the total number of shares in a company that is issued to the public must be at least 10 per cent. With M1 no longer meeting this requirement, it was delisted from the SGX in April 2019. In 2020, a joint venture between M1 and Starhub won the rights to build Singapore's two nationwide 5G networks. The other telco was Singtel. SALE In its announcement on Monday, Keppel said it would receive S$1 billion in cash proceeds for its stake in M1. Keppel will retain the information and communications technology business, including data centres and subsea cables. The company said it hopes to complete the proposed sale "over the next few months", adding that Simba had submitted the strongest bid among interested parties. Simba is wholly owned by Australia-listed Tuas. In a separate statement, Tuas said it is looking to raise at least A$416 million (US$271 million) through a placement and share purchase plan.
CNA
01-08-2025
- Politics
- CNA
Hong Kong Harbour Protection Group Disbands Over Reclamation Law
HONG KONG: A prominent environmental group in Hong Kong said on Friday (Aug 1) it was disbanding after decades of campaigning to protect Victoria Harbour from large-scale reclamation, citing a new law that weakens oversight of such projects. The Society for Protection of the Harbour (SPH) said recent amendments to land reclamation rules had consolidated too much power in the hands of government decision-makers, violating key public law principles. Despite submitting legal advice to authorities, the group said it received no response before the bill passed in May. SPH's closure marks the latest retreat of civil society in Hong Kong since the imposition of a sweeping national security law in 2020, which has led to the arrest or exile of hundreds of democracy activists and the closure of numerous organisations. Secretary for Development Bernadette Linn told the pro-Beijing Wen Wei Po in June that the government had encountered 'soft resistance' a term often used to describe ideological dissent, during the law's amendment process. She cited a social media post by SPH warning that reclamation plans posed risks to the harbour. The Development Bureau on Friday acknowledged SPH's past contributions to harbourfront affairs but defended the new law, saying it had 'strengthened regulations on large-scale reclamation' in Victoria Harbour. In its farewell message, SPH said it hoped the harbourfront would eventually be declared a 'National Treasure of China' and safeguarded 'for the benefit of the present and future generations.'
Straits Times
01-08-2025
- Business
- Straits Times
SPH Media awards three journalism scholarships to budding newsroom talent
Sign up now: Get ST's newsletters delivered to your inbox SINGAPORE - As a 17-year-old Raffles Institution student, Stacey Ngiam used to sit on her school field and look at the SPH Media building across the highway. As an avid listener to UFM100.3, a Chinese language SPH Radio station, Ms Ngiam was inspired by the station's ability to connect with their listeners and hoped to make the same impact with her future career. 'At that time, many of my friends were going into law and medicine. I wanted to pursue something different such as media and journalism. I am also passionate about sharing people's stories, and SPH is a very good space to kickstart that journey,' she said. In 2025, Ms Ngiam, now 20, joined SPH as a radio programming intern at UFM100.3 after finishing her A levels. After a few months, she made the leap to journalism at The Straits Times, drawn by her interest in speaking to people and hearing their life stories. She was assigned to the courts and crime cluster but was given leeway to explore her own interests in her two months in the newsroom. 'I am very thankful my supervisors Andre and Amelia pushed me to write a story about private candidates sitting for A Levels,' said Ms Ngiam, who was one of the two recipients of the SPH Media journalism scholarship in 2025 at a ceremony at the SPH News Centre on Aug 1. She will pursue an undergraduate degree in Communications Studies at the Nanyang Technological University in August. SPH Media's journalism scholarships provide full tuition, a monthly allowance and practical experience through internship opportunities. The bond period depends on the university that the scholars have enrolled in, their course of study and the duration of study. 'As a private candidate myself, I struggled to find media coverage about the unconventional journey that we take,' she said. 'I received a lot of support from social media and Telegram channels when I was sitting for my A levels, so I wanted to give back. I also wanted to let future generations of private candidates know that they are not alone.' SPH Media chief executive Chan Yeng Kit said at the ceremony that the company hopes to 'provide news and content that are trusted, credible, and essential' in a time where truth competes with misinformation. The latest Reuters Digital News Report shows that ST is Singapore's most trusted news brand , he said, and independent surveys indicate that SPH's products reach more than eight in 10 residents in Singapore. 'All these results are only possible because of the people who have chosen to dedicate themselves to tell the stories, shape the conversations and earn the trust,' said Mr Chan. 'They are the journalists, editors, producers, photographers, creators and support staff. They believe in the power of storytelling and its ability to shape a better and more connected world.' 'That is why talent development is so important to us, and why we continue to invest heavily in grooming journalistic talent — from young interns to newsroom leaders,' he added. Another journalism scholarship recipient is Vishruta Nandakumar, 19, who will pursue her studies in life sciences at the National University of Singapore (NUS) in August. Ms Nandakumar was a science student throughout school but her time in the Tamil Murasu newsroom helped her realise her love for journalism. An interview with an elderly woman who managed to hike a mountain a year after heart surgery gave her courage to apply for the scholarship. '(She) mentioned that if life is always certain, there is no need for hope or trust,' said Ms Nandakumar, who hopes that she can fill the gap between science and journalism in the future by exploring scientific journalism. Another recipient, Ms Megan Wee, 21, received the SPH Media-Temasek Foundation scholarship. This scholarship is open to students from NUS department of communications and new media or those pursuing data science and economics, and political science. Those studying Public Policy and Global Affairs at NTU or are in the Wee Kim Wee School of Communication and Information at the university also qualify. Awardees will be given internship opportunities, including a one-year paid traineeship upon graduation. During her three months at ST's business desk, Ms Wee's most memorable story was an article about the struggles that fresh graduates faced today. She said she received a lot of support from her editors, who encouraged her to be more ambitious and confident in writing better stories. 'One of the best pieces of advice that I've gotten from one of my editors was that I should not regard myself as an intern. I should think of myself as a reporter, since I get a full byline on the paper,' said Ms Wee, who is starting her third year at NTU's Wee Kim Wee School of Communication and Information in August.
Free Malaysia Today
01-08-2025
- Politics
- Free Malaysia Today
Hong Kong harbour protection collective dissolves
SPH hopes that Victoria Harbour will be declared a 'national treasure of China' one day. (EPA Images pic) HONG KONG : A Hong Kong environmental group said it would disband today, ending decades-long activism to protect the city's Victoria Harbour from large reclamation projects. Hong Kong was once home to a vibrant civil society, but scores of groups have closed since the national security law imposed by Beijing in 2020, with hundreds of pro-democracy activists arrested, jailed or in exile. Harbour protection was one of the city's major activist causes in the decade following the former British colony's handover to China in 1997. But the Society for Protection of the Harbour (SPH) said today it had ceased operations, citing a law passed this year that made it easier for the government to create new land through reclamation in Victoria Harbour. SPH said in legal advice offered to government leaders that the amendments violate the fundamental principle of public law 'by placing the roles of proposer, evaluator and ultimate decision-maker all within the power of government decision-makers'. It received no response and the bill was passed by Hong Kong's opposition-free legislature in May, it said. Hong Kong's secretary for development Bernadette Linn told pro-Beijing newspaper Wen Wei Po in June the government had encountered 'soft resistance' – a vague term used by pro-Beijing politicians to crackdown on dissent – when amending the law. Linn pointed to a social media post produced by SPH which implied that the government's reclamation posed danger to Victoria Harbour. SPH said today it was thanks to the support of the public that Hong Kong 'still enjoys a wide, deep, and beautiful Victoria Harbour'. 'We sincerely hope that one day our Victoria Harbour will be declared a 'national treasure of China' and will be protected and preserved for the benefit of the present and future generations,' the group said.
News18
25-07-2025
- Health
- News18
Woman Tried To Get Pregnant For 4 Years, Turns Out She Is Allergic To Semen
Last Updated: After unprotected sex, the woman had sneezing, burning eyes and genital discomfort. Tests revealed SPH, a rare allergy where her body treated sperm proteins as harmful In a rare and startling medical case, a 29-year-old woman from Lithuania was found to be allergic to her husband's semen, an unusual condition that explained her four-year struggle with infertility. Despite multiple natural attempts and two failed IVF procedures, conception remained out of reach. Doctors were initially baffled, but detailed medical examinations finally revealed the hidden cause, shedding light on one of the rarest barriers to pregnancy. The woman already suffered from asthma and allergies to dust, cat fur, and mould. Medical experts suspected her allergic nature might be causing her fertility issues. Blood tests showed she had elevated levels of eosinophils, white blood cells that help fight allergies. Further skin tests revealed allergies to mites, pollen grains, insects, and dogs. Crucially, her body exhibited high sensitivity to the Can f 5 protein, found in dog dander and urine, and linked to human semen allergies. Following unprotected sex, the woman experienced symptoms such as blocked nose, sneezing, burning eyes, and genital discomfort. Tests confirmed that she had Seminal Plasma Hypersensitivity (SPH), a rare allergy where a woman's body perceives sperm proteins as harmful and attacks them. SPH triggers severe reactions similar to those caused by peanuts or animal dander. view comments First Published: July 25, 2025, 18:46 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
