SingPost considers divesting S$1.1 billion SingPost Centre and floating Australian business

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.