Singapore Telecommunications may spin off or sell a stake in its post office arm, Singapore Post, next year, said SingPost Chief Executive William Tan.
However, Mr Tan says the timing of the stake sale may be affected by the performance of the stock market.
Read MoreSingapore Posts postal service SingPost has bought the remaining 29% in dropbox firm First Cube, making it the sole owner of the company. SinPost paid about S$474,000 for the stake and said the acquisition would allow it to integrate First Cubes infrastructure operations into its own business.
Read MoreSINGTEL has invited investment bankers to submit proposals on listing its subsidiary Singapore Post (SingPost), among other options, but no decision has yet been made.
In a statement to the Singapore Exchange (SGX), SingTel said that it had, on an ongoing basis, carried out strategic reviews of its subsidiaries.
These included SingPost which is involved in postal, telecom and agency services.
‘There are ongoing discussions with investment bankers on the various options. However, no decision has been made,’ said SingTel.
It said it would make an announcement ‘when appropriate’.
Singapore Telecom may soon float its postal arm Singapore Post – in what could be the biggest local public float in recent times after port operator PSA Corporation and Singapore Power decided to delay their listings.
SingTel will conduct a beauty parade tomorrow for advisers on strategic options and the planned divestiture and listing of SingPost, which according to one investment banker is one of the world’s most profitable postal services.
SINGAPORE Post has fully implemented homegrown NewsPage’s wireless Tracks solution in its island-wide courier package operations, making it one of the first postal agencies in the Asia-Pacific to deploy a wireless courier system.
Tracks allows information on the latest job status, collection and delivery to be updated into the backend system, said SingPost. The real-time information enables SingPost’s customers to trace their packages via the Internet, allowing SingPost to take prompt action to resolve problems.
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