Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top

SingPost Implements New Growth Strategies After Strategic Review

SingPost has finalized its strategic review, outlining five key growth drivers for the next three years, including the adoption of a new payout scheme.

Led by BofA Securities, the review aims to transition SingPost into a logistics business over time. The organization will be restructured into three business units: Singapore, Australia, and International, to enhance flexibility.

Despite posting its first-ever full-year loss in the post and parcel business for FY2023, SingPost remains focused on future profitability. It plans to pay out 30 to 50 percent of its underlying net profit from FY2024 to FY2025, aiming for balanced returns.

Previously, its dividend policy was based on a higher payout ratio of 60 to 80 percent of underlying net profit each financial year.

SingPost's current share price, which closed flat at S$0.38 on Monday. The group said that its current share price “does not appropriately reflect the intrinsic value of the company”.

Chairman Simon Israel noted that such a gap is “particularly apparent” considering SingPost Centre’s value of about S$1 billion as at end-September 2023, the Australia business, and the group’s overall growth potential.

“Management’s execution of our strategy will unlock value for shareholders and deliver agility and sustainable long-term growth as an international logistics enterprise.”
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
3
1
+0
2
Translate
Report
70K Views
Comment
Sign in to post a comment
trader
271Followers
7Following
3312Visitors
Follow