Singapore Post to Sell Some Non-Core Assets, Businesses

Dow Jones03-19

By Amanda Lee

Singapore Post will be selling some non-core assets and businesses as part of a strategic review.

The sale will include "selected properties as well as various assets in its international footprint," said the postal and e-commerce logistics provider Tuesday.

Proceeds will be used to cut debt, support investments and return value to shareholders, said SingPost.

The timing of any sales will depend on market conditions, it added.

SingPost's dividend policy was also reviewed and it plans to pay out between 30% and 50% of underlying net profit from its 2024-2025 fiscal year.

"The Board believes this is a balanced policy taking into consideration the capital needs of the enterprise and sustainable returns to shareholders," it said.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

March 18, 2024 20:26 ET (00:26 GMT)

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