SingPost considers divesting S$1.1 billion SingPost Centre and floating Australian business
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SINGAPORE Post (SingPost) is looking at divesting its non-core assets, including its flagship retail-commercial mixed development SingPost Centre at Paya Lebar Central. Floating its Australian business is another option that has stemmed from its strategic review.
In a briefing on Tuesday (Mar 19) to disclose the findings, the listed national postal service provider’s group chief executive officer Vincent Phang said that SingPost Centre – valued at S$1.1 billion as at September 2023 – is a non-core asset.
However, he did not want to provide a timeline of the divestment of this property or other non-core assets, as the company pivots to be a pure-play logistics player.
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