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'An important period of transition': PM Wong thanks Khaw Boon Wan who retired as SPH Media chairman

Prime Minister Lawrence Wong and Minister for Digital Development and Information Josephine Teo on Thursday (Oct 1) paid tribute to former cabinet minister Khaw Boon Wan, who retired as chairman of both SPH Media Trust and SPH Media Holdings, after five years at the helm.The 73-year-old was appointed in May 2021 when SPH announced that its core media business will...

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'An important period of transition': PM Wong thanks Khaw Boon Wan who retired as SPH Media chairman
'An important period of transition': PM Wong thanks Khaw Boon Wan who retired as SPH Media chairman

Prime Minister Lawrence Wong and Minister for Digital Development and Information Josephine Teo on Thursday (Oct 1) paid tribute to former cabinet minister Khaw Boon Wan, who retired as chairman of both SPH Media Trust and SPH Media Holdings, after five years at the helm.

The 73-year-old was appointed in May 2021 when SPH announced that its core media business will be hived off into a public company with a limited by guarantee structure.

At that time, SPH faced declining advertising revenue and print circulation, posting its first net loss of $83.7 million for the financial year that ended on Aug 31, 2020.

Khaw, who last served as Minister for Transport and Coordinating Minister for Infrastructure from 2015 to 2020, before retiring from politics in June 2020, was known as "Mr Fix-it", taking on challenging portfolios such as housing and transport.

In a statement then, Khaw said that the role is a "heavy responsibility" and one which he accepted with "some anxiety" as he lacked the background in digital media.

But he also said that he would adapt and do his best to ensure the national project succeeds.

"I cannot allow a Singapore institution to go into decline. I will see how I can help unleash the talent and the passion in our newsrooms. We will re-focus on our primary mission of providing quality journalism to help build this young nation."

In a Facebook post on Thursday, after SPH announced that its chief executive Chan Yeng Kit will take over as executive chairman, PM Wong noted that Khaw could have taken a "well-deserved break" after more than 40 years of public service, but hestepped forward when asked to serve again.

"Under Boon Wan’s leadership, SPH Media strengthened its digital and multimedia capabilities, reached new audiences, and continued to serve Singaporeans across our four official languages," PM Wong wrote.

He noted that Khaw had put SPH Media on a stronger footing during his term, while ensuring that it continues to provide Singaporeans with reliable news and perspectives that matter to them.

"As Boon Wan steps down today as chairman, I thank him for taking on this responsibility when he was called upon, for seeing SPH Media through an important period of transition, and for his many years of dedicated service to Singapore," PM Wong said on Oct 1.

Teo recalled how Khaw would deal with issues affecting Singaporeans "calmy, firmly but always with empathy".

She said he stepped out of retirement to help an "important institution" in Singapore that was going through a critical transformation to remain relevant and effective in the new media landscape.

The minister noted that while the transformation remains ongoing, Khaw has set it on the right path by ensuring that "worthy successors" are in place at SPH Media.

"I am deeply appreciative that he took up the challenge. We could not have found a better person for this role. Mr Khaw was, as always, strategic and purposeful in charting the way forward," Teo wrote.

The minister said that under Khaw's leadership, SPH Media has continued to earn the trust of Singaporeans, even as it adapts to fast-changing media consumption habits.

In 2022, the Government announced that it will provide up to $900 million in funding support for SPH Media Trust over the next five years.

Speaking in Parliament on Feb 15, 2022, Teo said that this will help SPH Media to make "essential investments that move it decisively into the digital era".

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