Nationalisation not on the cards: SingPost CFO
Postal service provider reports underlying net loss for H2; it will merge its Singapore, international segments
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[SINGAPORE] Singapore Post (SingPost) on Thursday (May 15) ruled out the possibility of a nationalisation of the postal service provider, even as it said it is working with the Singapore government to come up with an operating model that is profitable and sustainable.
“Nationalisation is not on the cards,” said SingPost group chief financial officer Isaac Mah at a media briefing following the release of its earnings for the full year ended Mar 31.
“The government acknowledges that right now we do not have a sustainable operating model, especially for the post office network, and we are engaging them on correcting that model so that it’s sustainable,” he added.
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