Tag: Spring

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.

Read More

Singapore Post Limited and Prudential Asset Management (Singapore) Limited launch Asian property securities fund

Posted by | Mar 28, 2008 | |

Singapore Post Limited (“SingPost”) and Prudential Asset Management (Singapore) Limited (“PAM Singapore”) today announced that they have launched a new fund, International Opportunities Funds (“IOF”) – Asian Property Securities. The fund aims to make 1 pct payout every quarter1,2 for Class Fd Shares. The offer period starts today, 28 March 2008. The fund is exclusive to SingPost customers and is available at selected post offices. This initiative is the result of the growing partnership between SingPost which took root in November 2006. With the latest addition, the range of investment products under SingPost’s “Care for Life” portfolio has grown even more comprehensive. IOF – Asian Property Securities invests primarily in listed closed-ended Real Estate Investment Trusts (REITs) and property related securities of companies, which are incorporated, listed in or have their areas of primary activities in Asia Pacific, which includes Japan, Australia and New Zealand. The fund may also invest in depository receipts [including American Depository Receipts (ADRs) and Global Depositary Receipts (GDRs)], debt securities convertible into common shares, preference shares and warrants.

Read More

SingPost Group results for third quarter

Posted by | Jan 30, 2008 | |

Singapore Post Limited (“SingPost”) announced its unaudited results for the third quarter and nine months ended 31 December 2007.

The Group registered a 9.2 pct growth in its revenue for the third quarter, from SGD 111.8 million to SGD 122.0 million, as the three business segments achieved improved
performances.

Mail revenue increased 9.5pct from SGD 86.0 million to SGD94.2 million, on higher mail volumes while Logistics revenue rose 5.3pct from SGD17.0 million to SGD17.9 million, on increased Speedpost traffic and growth in vPOST on-line shopping transactions.

Retail revenue grew 7.9pct from SGD14.5 million to SGD15.6 million, as growth in financial services and retail products continue to offset the decline in agency/bill presentment services.

Rental and property related income improved by 21.6pct from SGD5.1 million to SGD6.2 million, as a result of higher rental rates and yield enhancement initiatives at SingPost Centre.

Total expenses rose 10.7pct from SGD76.7 million to SGD84.9 million as a result of increased business activities. Labour and related costs increased 10.6pct from SGD27.9 million to SGD30.9 million on higher wages and variable staff costs. Volume-related costs increased 16.5pct from SGD27.6 million to SGD32.1 million. Finance expenses declined 15.0pct from SGD2.7 million to SGD2.3 million as the Group has fully repaid the term loan obtained in March 2006.

Operating profit for the Group improved by 6.7pct from SGD43.3 million to SGD46.2 million. Mail operating profit posted a 7.5pct increase from SGD34.4 million to SGD37.0 million, while Logistics operating profit improved by 3.3pct from SGD3.0 million to SGD3.1 million.

Read More

Spring Global Mail reaches agreement with Pitney Bowes in the USA

Posted by | Mar 16, 2007 | |

Spring Global Mail announced that it has reached an agreement with Pitney Bowes who will assume responsibility for all future business for all Spring Global Mail’s customers and limited capital assets in the United States of America. Spring Global Mail will no longer operate its present business in the USA. Also part of this transaction is a Global Distribution Agreement that grants Pitney Bowes access to the Spring Global Mail network outside the USA.
Spring Global Mail is pleased that its customers will in future be served by Pitney Bowes. Furthermore, this agreement will allow Spring Global Mail to invest in other areas of its business and to strengthen its operations in Europe and Asia.

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What’s the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

Subscribe to MER

 

News Archive

Pin It on Pinterest