Some public money already given to SPH Media but S$900m funding could end if serious wrongdoing found: Josephine Teo
Ms Teo told Parliament on Thursday that “possible offences committed, based on several findings”.
Mr Ang Wei Neng asked if increasing circulation numbers was regarded as a key performance indicator in the funding formula for SPH Media, and if this might have placed pressure on them. Ms Teo added that the investigations were ongoing, and that “things will need to take their natural course… for the relevant authorities after they have completed their investigations to determine what information to publicly disclose and when to do so”.
Ms Teo added that the whole purpose of funding SPH Media was to ensure that its digital transformation was successful. “We size the funding according to the needs that are most pertinent to successful transformation. Strengthening governance is certainly a big part of it, but we also expect SPH Media to allocate his own resources accordingly,” said Ms Teo.
Responding to this, Ms Teo said that the Government began disbursing funds to SMT in March 2023, noting that that the SPH Media committee had not completed its findings at the time.
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