Tag: Singapore Post

SingPost records net profit growth of 6.8pct to SGD149M

Posted by | Apr 30, 2008 | |

Singapore Post Limited (“SingPost”) announced its unaudited results for the fourth quarter and financial year ended 31 March 2008.

For FY2007/08, the Group’s revenue increased by 8.4pct from SGD436.0 million to
SGD 472.6 million. All business segments showed an improvement in performance for the full year.

♦ Mail revenue grew by 7.9pct from SGD338.4 million to SGD365.3 million, underpinned by higher mail volumes and price adjustments. Revenue was boosted with the growth in direct mail which saw a 16.4pct increase in traffic as well as higher traffic in domestic and international mail. DMrocket, a one-stop direct mail centre, was launched during the year, fuelling greater interest in direct mail as a cost-effective means for businesses to reach out to their customers. During the year, SingPost’s hybrid mail business expanded into Hong Kong and Thailand.
♦ Logistics revenue rose by 6.7pct from SGD64.3 million to SGD68.6 million, due to higher contributions from Speedpost, vPOST online shopping and shipping transactions, and warehousing, fulfillment and distribution. A new service Speedpost Centre was launched to cater to retail and corporate customers.
♦ Retail recorded a 10.8pct increase in revenue from SGD55.6 million to SGD61.6 million, as increased contributions from financial services and retail products offset the decline in agency and bill presentment services. In FY2007/08, SingPost collaborated with new partners to introduce a variety of financial products and valueadded services. These included two new remittance services – Visa Money
Transfer and Cashome to Indonesia – with Visa and Bank Negara Indonesia respectively, and an investment fund with Prudential Asset Management. It also started offering more value-added services including five key Immigration and Customs Authority (ICA) e-services. SingPost was also the ticketing agent for major events such as the F1 Grand Prix, Chingay Festival and Singapore Air Show. Highvalue products were also offered via its shop@POST catalogue.
1.00 SGD = 0.728948 USD

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SingPost collaborates with ABN AMRO to distribute consumer banking

Posted by | Apr 29, 2008 | |

Singapore Post Limited (“SingPost”) and ABN AMRO announced today a collaboration to distribute PostLine, a new personal line of credit. This is a first of its kind alliance between SingPost and a bank to distribute a personal line of credit. Under this collaboration, SingPost will distribute ABN AMRO’s new personal line of credit, PostLine, at post offices where customers will be able to receive professional financial advice.

The collaboration is part of SingPost’s strategy to leverage its wide retail network to offer high value products and financial services to its customers. The newly launched PostLine will provide another option for SingPost’s customers, expanding the suite of financial services and investment products offered at its post offices.

For ABN AMRO, the collaboration will enable the bank to immediately expand its sales and distribution channel in a cost-efficient manner. SingPost owns one of the largest retail distribution networks in Singapore through its tri-channel platform of 62 post offices, over 250 Self-service

Automated Machines (SAM) and vPost, an internet portal facilitating bill payments and offering online shopping and shipping services.

PostLine is designed with a wide array of benefits, aimed at helping clients save costs and giving them more flexibility in their liquidity and cashflow management. This includes an attractive interest rate of 1.44 pct per month, one of the lowest in the market, and flexibility to use the line of credit to transfer their balances. The unique two-in-one concept of PostLine allows customers to enjoy the lower financing cost with the flexibility of an overdraft. PostLine customers will be able to access
their credit via a cheque book and an ATM card.

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SingPost now offering Visa Money Transfer

Posted by | Feb 6, 2008 | |

Visa and Singapore Post Limited (SingPost) are now offering a new Visa Money Transfer remittance service from 51 designated post offices in Singapore enabling the transfer of money to nine markets around the world. The SingPost Visa Money Transfer service enables money to be sent to Visa cardholders in nine countries in Australia, China, India, Indonesia, Malaysia, Philippines, Sri Lanka, Thailand and the United Kingdom. It is the first time Visa Money Transfer has been made available through a postal service provider.

Visa International country manager for Singapore and Brunei, Ms Meranda Chan, said, “We are delighted to partner with SingPost. Customers have traditionally gone to SingPost to send letters, cards or packages – now they can send money with the same ease and security via Visa Money Transfer. With SingPost Visa Money Transfer we are making it easier for people to send funds conveniently to their families and friends in other countries.”

“Instead of having to travel to a bank branch or agent location, recipients can use the funds they receive on their Visa card at any of the 29 million Visa merchant outlets worldwide,” Ms Chan said.

Its ease of use is one of the key attractions of the SingPost Visa Money Transfer service. All the customers need to do is to register for a CASHOME card at any of the 51 SingPost post offices offering Visa Money Transfer. A CASHOME card is an identification card for customers to use to remit funds, removing the hassle of filling out forms each time they wish to transfer funds. Whenever customers wish to remit money, they simply provide the recipient’s 16-digit Visa card number to whom they wish to send the funds.

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SingPost to offer Visa Money Transfer

Posted by | Feb 6, 2008 | |

Visa Money Transfer service allows customers to transfer funds directly to Visa cards in nine markets around the world

Visa and Singapore Post Limited (SingPost) will offer the Visa Money Transfer remittance service from 51 designated post offices in Singapore enabling the transfer of money to nine markets around the world.

The SingPost Visa Money Transfer service is convenient, secure and inexpensive and enables money to be sent to Visa cardholders in nine countries in Australia, China, India, Indonesia, Malaysia, Philippines, Sri Lanka, Thailand and the United Kingdom. It is the first time Visa Money Transfer has been made available through a postal service provider.

All the customers need to do is to register for a CASHOME card at any of the 51 SingPost post offices offering Visa Money Transfer. A CASHOME card is an identification card for customers to use to remit funds, removing the hassle of filling out forms each time they wish to transfer funds. Whenever customers wish to remit money, they simply provide the recipient’s 16-digit Visa card number to whom they wish to send the funds.

For subsequent money transfers, customers need only present their CASHOME card to the SingPost staff and advise which pre-registered recipient they wish to send the money to. The money transfer will be processed through Visa’s international network and the funds credited to the recipient’s Visa account, who can then use his or her Visa card at any Visa merchant or Visa/PLUS ATM.

The SingPost Visa Money Transfer service maintains cardholder security during the transaction as customer information and account numbers are encrypted throughout the process.

Senders can remit a maximum of SGD 3,500 per day. The exchange rate used will be the prevailing rate quoted to the customer at the point of transaction. A flat fee of SGD 9.00 per transaction applies.

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SingPost and BNI offer new remittance service to Indonesia at post offices island-wide

Posted by | Jan 22, 2008 | |

Singapore Post Limited (SingPost) and PT Bank Negara Indonesia (Persero) Tbk (BNI) announced that they will offer a new remittance service to Indonesia at 51 designated SingPost branches (post offices).

CASHOME is a fast, convenient, yet secure remittance service that allows the sender to remit money into a recipient’s bank account maintained with BNI in Indonesia. A fast remittance transfer time is in store for customers as funds remitted by the sender through the post office before 3pm will be received by the recipient on the same day.
Funds remitted after 3pm will be received by the recipient on the next business day. The money will be credited directly to the recipient’s bank account maintained by BNI.

Customers can use their NETS card or cash to remit funds to their recipients who can access the funds at BNI’s wide network of over 970 branches and close to 20,000 ATMs across Indonesia. They will also enjoy the convenience of using the CASHOME card for the initial and subsequent transactions. A CASHOME card is an identification card for customers to use to remit money to their recipient, saving them the hassle of filling out forms each time they need to remit money. A one-time registration of the CASHOME card is required only.

As SingPost is committed to safeguarding customers’ personal information and privacy,
customers can enjoy peace of mind in knowing that their funds are in safe hands when they remit money with Singapore’s public postal licensee.

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