The company had tasked its audit and risk committee, with the help of legal advisers, to investigate the overstated circulation numbers.
The media company, which publishes news titles such as the Straits Times, The Business Times and Lianhe Zaobao, revealed in January that daily circulation numbers had been inflated by about 10 per cent of the reported daily average circulation.
The police have access to the full, unredacted report, added Mr Loh, a member of SPH Media Trust's board and former managing partner of EY ASEAN & Singapore.The audit committee had commissioned legal advisers from Allen & Gledhill, which appointed Deloitte to assist with the investigations. On the issue of bulk copies, the report noted that printing and distributing bulk copies to third parties appear to be an acceptable practice in the newspaper industry. However, copies cannot be counted if they are returned, unsold or undelivered.The people involved in the overstatement of circulation numbers were from the circulation division, said the report, adding that there has been no evidence to suggest that the board or its senior management were involved.
With regard to the"X Barter Deal", SPH had an arrangement with a company identified only as "X" between 2013 and 2022.involved X providing e-paper digital subscriptions to SPH in exchange for 15,000 Straits Times and Business Times digital subscriptions
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