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8 question sets shareholders should ask SingPost’s board over planned sale of Australian business

As it pivots to logistics in an attempt to mitigate the secular decline in its Singapore postal business, the business that it is now proposing to sell has become the the group’s top profit contributor

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Tay Peck Gek

Tay Peck Gek

Published Tue, Dec 17, 2024 · 06:30 PM
    • SingPost intends to use a portion of the proceeds from the sale of the Australian business to repay borrowings.
    • SingPost intends to use a portion of the proceeds from the sale of the Australian business to repay borrowings. PHOTO: ST

    ON THE face of it, shareholders of Singapore Post (SingPost) should be happy about the company’s proposed sale of its Australian logistics business.

    SingPost earlier this month announced it is selling its subsidiary offering fourth-party and third-party logistics solutions in Australia – which is ranked among the top five of such players Down Under – at an enterprise value of A$1 billion (S$856.4 million).

    For shareholders, this would translate to SingPost reaping some S$312.1 million in gains on disposal.

    Hock Lock SiewSingPost

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