Tag: Singapore Post

SingTel trims postal stake

Posted by | Dec 13, 2005 | |

Singapore Telecommunications Ltd. trimmed its 30.85% stake in Singapore Post Ltd. and said it plans to sell the remaining shares, valued at about SD568 million, or USD338 million. Southeast Asia’s largest telephone company by market capitalization said it had sold 95 million shares in the city-state’s postal company for net proceeds of SD105 million, paring its stake to 25.87%. “The sale is in line with SingTel’s ongoing strategy of divesting noncore business in order to focus on its core telecommunications business,” the company said.

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Australasia Market Development – Report 1

Posted by | Jul 1, 2005 | |

First in a series of four reports dealing with postal services policy and development in the wider markets of Australasia. Prepared for Postwatch by Arrowhead Consulting Ltd.
Introduction
Report Scope
Country Selection
Report Structure
Overview and Implications
Introduction
Implications
Country Review
Introduction
Australia
New Zealand
Singapore
Japan
Hong Kong

P:LibraryPostalAustalsain_Market_Developments for Postwatch 0705.pdf

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Singapore Post creates a financial services division

Posted by | May 4, 2005 | |

Singapore’s POSBank (comprising the former Post Office Savings Bank of Singapore and housing loan provider Credit POSB) had long separated from the postal operator Singapore Post (SingPost) and ceased to use the post office network by the time the government sold it to DBS Bank in 1998. By that stage, POSBank had established its own network of branches and ATMs.

At the end of 2003, SingPost, the universal postal service provider whose shares are traded on the Singapore Exchange, decided to expand its range of retail financial services to leverage the estimated 22 million customer visits to its 65 post offices each year.

It established a financial services division to develop, launch and operate its range of retail financial services.

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SingPost’s net annual income up 6 percent to enhance dividend policy

Posted by | May 4, 2005 | |

Singapore Post has booked a 6 percent increase in annual earnings.

Net income for the year to March came in at 110.5m dollars, beating market forecasts.

Its bottom-line was boosted by higher earnings at its mail and logistics businesses.

For the fourth quarter alone, net profit was 26.8 million dollard.

That’s a slide of 7 percent compared to the same period last year, but still better than analysts’ expectations.

The postal services provider reported growth in its three core businesses.

And there is good news for investors.

SingPost says it is enhancing its dividend policy by raising the minimum annual payout and paying dividends on a quarterly basis.

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DHL says it is not keen to provide mail services in Singapore

Posted by | Feb 4, 2005 | |

DHL says it is not keen to provide mail services in Singapore when the market is liberalised in 2007. Currently, SingPost holds a monopoly on mail services in Singapore, which will end on March 31, 2007. But DHL is setting its sights elsewhere. Dr Klaus Zumwinkel, Chairman, Deutsche Post World Net, said: “No, not looking at coming into this market. Now Europe is being liberalised too – the whole of Europe in the mail market and therefore we are investing in the mail market in Europe, not in Asia. New Zealand has liberalised in the Asia Pacific, Japan is going to liberalise its market, it’s going to take a bit longer, and then Singapore – that’s the only 3 markets I’m aware of going to liberalise but Europe is going to liberalise in all the 25 member states of the European Union liberalising the mail market that’s where we are investing.”

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