Tag: SingPost

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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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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SingPost to offer financial planning services and products at its branches

Posted by | Jan 19, 2005 | |

Postal services provider Singapore Post is continuing its diversification into financial products and services. SingPost has just signed an agreement to establish an exclusive life insurance distribution partnership with UK insurance giant Prudential. The new service “Care for Life” will sell affordable and comprehensive life insurance policies. For a start, full-time financial consultants from Prudential will be stationed at 10 designated post offices. Eventually, the service will be expanded to every post office around the island.

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Singapore Post 1Q Net Profit Up 10.5%

Posted by | Aug 3, 2004 | |

Singapore Post Ltd. Monday reported a 10.5% rise in first quarter net profit to SD26.1 million, as revenue from its mail services remained steady amid a reduction in taxes and costs. Revenue for the three months ended June 30 came to SD89.4 million, a slight 0.5% decline from SD89.01 million a year earlier. Singapore’s dominant postal operator said it managed to reduce finance costs by swapping fixed interest rates on its bond issue for floating rates. It also paid less in taxes after the government reduced the corporate tax rate to 20% from 22% in the previous financial year.

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