Singapore Post Strategic Review Complete; Reorganization into Three Units

19 Mar, 2024

Singapore Post Strategic Review Complete; Reorganization into Three Units

Singapore Post has completed its strategic review, announcing a reorganization into three distinct business units. These units will focus on the Singaporean, Australian, and international markets individually, according to SingPost's statement.

In recent years, the company has pursued an acquisition strategy, particularly in Australia, resulting in over 85% of total group revenue and operating profit now coming from overseas operations.

SingPost has also addressed challenges posed by the decline in letter mail volumes, a trend impacting postal firms worldwide. Initiatives include a disciplined approach to acquisitions and a strategic increase in postal rates, leading to profitability in the postal segment during the third quarter of the financial year.

This restructuring marks a pivotal moment for Singapore Post as it adapts to evolving market dynamics and positions itself for sustained growth. With a sharper focus on key markets and profitability, SingPost aims to enhance its competitive edge and drive value for stakeholders in the years ahead.