Singapore Post, or SingPost, is Singapore’s sole postal service provider.
Like Singtel, the group has also announced a strategic review to assess its various businesses and to try to enhance shareholder returns by ensuring that the group is “appropriately valued”.
The strategic review is being finalised and could be announced together with SingPost’s fiscal 2024 earnings for the year ending 31 March 2024.
The group is not sitting still, though.
It recently expanded its integrated logistics network with the acquisition of Australian company Border Express for A$210 million.
SingPost is also executing strategies to transform into a global logistics enterprise.
It is eyeing more acquisitions and the potential divestment of non-core businesses or assets to recycle capital.
Meanwhile, international postage rates will also be adjusted upwards from 1 January 2024, providing a small boost to its Post and Parcel division.
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