SPH shake-up: Khaw Boon Wan accepts ‘heavy responsibility’ with ‘some anxiety’

SINGAPORE — Former transport minister Khaw Boon Wan, who has been designated as the chairman of a non-profit entity that will own the news media titles of Singapore Press Holdings (SPH), said that he would be taking on the new role with “some anxiety”.

The restructuring of SPH's media business is subject to shareholders' approval. 

On Monday (May 10), Mr S Iswaran, Minister for Communications and Information, said that if the deal goes through, Mr Khaw, 68, will be appointed the chairman of the company limited by guarantee after discussions with SPH’s management shareholders. 

“The intent has always been for these management shares to be held by reputable and established institutions, so that the stewardship of the newspaper is entrusted to entities with an abiding interest in, and commitment, to Singapore’s stability and success,” Mr Iswaran said during his ministerial statement. 

In a statement after the announcement, Mr Khaw said: “It is a heavy responsibility. I accept it with some anxiety as I have no digital media experience. I will see how we can adapt relevant experiences from successful transformation elsewhere.

“I agree with Mr Iswaran on the local media’s critical role and will do my best to ensure we succeed in this national project.

“This assignment will disrupt my retirement. In the last one year, I have been blissfully content. But 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.”

Representatives of SPH’s current management shareholders — banks such as OCBC, UOB and DBS, insurers Great Eastern and NTUC Income, telecommunications company Singtel, the National University of Singapore, the Nanyang Technological University, as well as state investment firm Temasek Holdings’ subsidiary Fullerton — will become founding members of the company limited by guarantee.

Mr Khaw retired from politics ahead of the General Election last year. He was also the coordinating minister for infrastructure and transport minister before he stepped down. 

Mr Khaw, who was a Member of Parliament for Sembawang Group Representation Constituency, entered politics in 2001 after a career in the public service.