| Latest Forum Topics / SingPost Last:0.315 -- |
 Post Reply
|
|
SingPost
|
|||||
|
hmphie
Veteran |
26-Feb-2025 12:22
|
||||
|
x 0
x 0 Alert Admin |
Special dividend 1ct?
|
||||
| Useful To Me Not Useful To Me | |||||
|
Mark001
Veteran |
26-Feb-2025 12:18
|
||||
|
x 0
x 0 Alert Admin |
Singpost EGM will be held to approve the sale of Aus.business on 13 Mar. There will definitely be a special div. |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Joelton
Supreme |
21-Feb-2025 12:08
|
||||
|
x 0
x 0 Alert Admin |
SingPost Q3 operating profit down 23.8% at S$21.1 million
Decrease in operating profit comes as operating expenses for its Singapore and International business units outpace revenue growth
SINGAPORE Post&rsquo s (SingPost : S08 -0.89%) group operating profit for the third quarter ended December was S$21.1 million, down 23.8 per cent on the year from S$27.7 million.
The decrease in operating profit comes as operating expenses for SingPost&rsquo s Singapore and International business units outpaced revenue growth.
&ldquo The decline was driven primarily by ongoing macroeconomic pressures, including higher inflation, supply chain disruptions and a highly competitive environment,&rdquo said SingPost on Thursday (Feb 20).
Group revenue for the quarter rose 12.1 per cent to S$510.6 million, from S$455.4 million previously. The third quarter is a &ldquo seasonally high period&rdquo for SingPost&rsquo s businesses.
SingPost said the improved top line comes as lower contributions from its Singapore and International businesses were outweighed by revenue growth in its Australia segment and property leasing.
Group operating expenses increased by 14.1 per cent to S$490.9 million from S$430.1 million.
By segments
The overall delivery volumes in the Singapore postal and logistics business grew by 3.4 per cent, as letter mail volume growth offset lower e-commerce volumes due to service performance issues.
But year on year, revenue fell due to lower contributions from logistics, financial and other services.
The lower top line, along with high operating costs, resulted in an operating loss in the Singapore postal and logistics business, compared to a profit in the year-ago period, said SingPost.
Property leasing revenue improved on the year due to higher rental income from SingPost Centre. Overall occupancy rate at the property was 98.2 per cent as at Dec 31, 2024, compared to 96.2 per cent as at Mar 31, 2024.
For SingPost&rsquo s International business, revenue fell on the year due to a 29.6 per cent year-on-year decline in volumes.
&ldquo The continued contraction in cross border e-commerce volumes and challenging business conditions resulted in an operating loss for the cross-border segment during the quarter,&rdquo said the national postal service provider.
Freight forwarding revenue and profit improved on the year due to higher sea freight rates.
SingPost&rsquo s Australia business recorded higher revenue and operating profit year on year, mainly due to Freight Management Holdings&rsquo (FMH) consolidation of Border Express, following its acquisition last March.
As at end-December, the group had S$391.5 million in cash and cash equivalents from S$476.7 million as at Mar 31, 2024.
Borrowings rose 4.8 per cent to S$866.9 million as at Dec 31, 2024, from S$827.1 million as at end-March last year. The increase was mainly due to additional bank loans undertaken by FMH for the deferred consideration for Border Express.
Total equity stood at S$1.4 billion as at Dec 31, 2024, down 1.5 per cent from S$1.42 billion as at Mar 31, 2024.
Outlook
SingPost intends to &ldquo progressively divest and unlock the value of non-core businesses and assets&rdquo .
Following the divestment of the Australia business, SingPost will review its group strategy and reset it in due course.
Last December, SingPost announced that it has entered into a share purchase agreement to dispose of its Australian business at an enterprise value of A$1 billion (S$870 million) as part of the outcome of a strategic review. The buyer is Pacific Equity Partners (PEP), an Australia-headquartered private equity fund.
Even amid the recent sacking of SingPost&rsquo s senior executives over their negligence in handling internal probes related to a whistleblower&rsquo s report, PEP had told The Business Times previously that the divestment is &ldquo on track&rdquo .
The three senior executives were former group chief executive Vincent Phang, group chief financial officer Vincent Yik, and the CEO of the company&rsquo s international business unit Li Yu.
Phang had also stepped down from his role as SingPost&rsquo s non-executive, non-independent director in January.
A slew of appointments had taken place in SingPost since the incident.
Neo Su Yin assumed the group chief operating officer role in January, and was named to take over the role of local operations CEO after Shahrin Abdol Salam resigned.
The national postal service provider also appointed former executives of Singapore Exchange and SIA Engineering as its new non-executive, independent directors.
On Feb 19, the group also said it will lay off 45 employees &ldquo in the coming months&rdquo in a move to restructure the company. Those affected by the layoffs are primarily in corporate support units, with a &ldquo small number&rdquo from the international business unit.
SingPost noted that the restructuring is the result of prolonged macroeconomic challenges, such as intense competition. It emphasised that the layoffs are not correlated with previous incidents or whistle-blowing reports.
The group intends to focus on building market share and maximising capacity utilisation, while reviewing its customer service for its Singapore business.
&ldquo Adjustments will be made to some post offices and locations to ensure that postal services remain cost-effective and relevant,&rdquo said SingPost.
It expects its international business to face increasing challenges amid a &ldquo volatile global environment&rdquo for e-commerce logistics.
&ldquo These challenges, driven by trade disputes, geopolitical conflicts and evolving regulatory requirements, are expected to have a prolonged impact on the International cross-border business,&rdquo the group said.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Tob231
Elite |
21-Feb-2025 08:33
|
||||
|
x 0
x 0 Alert Admin |
that' s the core biz and important one ... serious overhaul in management team. need to bring it todate ... solid assets. it will fine. patience and wait for the announcement |
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
20-Feb-2025 22:01
|
||||
|
x 0
x 0 Alert Admin |
So what is it?s core business now?
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Mark001
Veteran |
20-Feb-2025 12:44
|
||||
|
x 1
x 0 Alert Admin |
Don' t waste your time on Singpost current performance and subsequent improvement any more. It is only right for the sunset post business to follow the path of previous SPH. There is no other viable way to sustain. My opinion only. Do what you believe in.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
20-Feb-2025 12:15
|
||||
|
x 0
x 0 Alert Admin |
SingPost Q3 operating profit down 23.8% to $21.1 million
Summary: Singapore Post&rsquo s group operating profit fell 23.8% in Q3 2024 due to higher operating expenses outpacing revenue growth. Revenue increased 12.1% year-over-year, driven by Australia segment growth and property leasing, but was offset by declines in Singapore and international businesses. Looking ahead, SingPost plans to divest non-core businesses, focus on building market share, and trim operations, including a planned layoff of around 45 employees.
https://www.invest-alpha.sg/view& id=730
|
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
20-Feb-2025 12:15
|
||||
|
x 0
x 0 Alert Admin |
SingPost to lay off 45 employees &lsquo in the coming months&rsquo
The move is not correlated with previous incidents or whistle-blowing reports, it emphasises
SINGAPORE Post (SingPost) will lay off 45 employees &ldquo in the coming months&rdquo in a move to restructure the company, it said in a statement on Wednesday (Feb 19).
Those affected by the layoffs are primarily in corporate support units, with a &ldquo small number&rdquo from the international business unit.
The company said that the move is meant to &ldquo rightsize and devolve corporate functions to its business units&rdquo .
It added that the initiative will eliminate duplicate functions and &ldquo improve the agility and efficiency of the business&rdquo .
It noted that the restructuring is the result of prolonged macroeconomic challenges, such as intense competition.
SingPost emphasised that the layoffs are not correlated with previous incidents or whistle-blowing reports.
The company also said that it has exhausted options to find employees alternative positions within SingPost for those in the affected roles. All the staff who have been affected will have access to outplacement and counselling services during this time.
&ldquo We are committed to managing this process with utmost care for our employees involved,&rdquo the company added.
The company had earlier fired its chief executive Vincent Phang, chief financial officer Vincent Yik and chief executive of the international business unit Li Yu on Dec 21, 2024, for their handling of a whistle-blower report.
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Newcomer19707016
Veteran |
20-Feb-2025 11:51
|
||||
|
x 0
x 0 Alert Admin |
Singpost profit declines by 21% in fiscal quarter 3 | ||||
| Useful To Me Not Useful To Me | |||||
|
Mark001
Veteran |
20-Feb-2025 11:00
|
||||
|
x 0
x 0 Alert Admin |
That' s what Singpost said: The Board reaffirms its intent to progressively divest and unlock the value of non-core businesses and assets. Next wait for the final result of divestment and date of AGM. nothing else matters!
|
||||
| Useful To Me Not Useful To Me | |||||
|
Mark001
Veteran |
20-Feb-2025 10:38
|
||||
|
x 0
x 0 Alert Admin |
thanks.
|
||||
| Useful To Me Not Useful To Me | |||||
|
spursfan
Supreme |
20-Feb-2025 08:25
|
||||
|
x 0
x 0 Alert Admin |
here is the link to singpost Q3 updates if you are interested https://links.sgx.com/1.0.0/corporate-announcements/LG74TP3ZHJLCAF1B/833595_Q3FY2425_Business_Update.pdf |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Mark001
Veteran |
19-Feb-2025 16:00
|
||||
|
x 0
x 0 Alert Admin |
any idea when result of sales of Aust. businesses comes out? | ||||
| Useful To Me Not Useful To Me | |||||
|
Tob231
Elite |
19-Feb-2025 13:30
|
||||
|
x 0
x 0 Alert Admin |
coming to the end of February, why still no news for the EGM ...... probably middle of March |
||||
| Useful To Me Not Useful To Me | |||||
|
Cadence88
Veteran |
18-Feb-2025 15:23
|
||||
|
x 0
x 0 Alert Admin |
What price did they dump?
|
||||
| Useful To Me Not Useful To Me | |||||
|
shk363
Elite |
18-Feb-2025 14:32
|
||||
|
x 0
x 0 Alert Admin |
back to ipo price soon | ||||
| Useful To Me Not Useful To Me | |||||
|
Tob231
Elite |
18-Feb-2025 12:55
|
||||
|
x 0
x 0 Alert Admin |
almost time to tango 🥳 | ||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
18-Feb-2025 11:19
|
||||
|
x 0
x 0 Alert Admin |
SingPost appoints former execs of SGX and SIA Engineering as non-executive, independent directors
This comes months after the firing of three senior management executives over their negligence in handling internal investigations related to a whistleblower&rsquo s report
SINGAPORE Post (SingPost) : S08 +0.89% on Monday (Feb 17) announced the appointment of two new non-executive, independent directors, Chng Lay Chew and Ng Chin Hwee, effective Feb 17.
Chng was chief financial officer (CFO) of the Singapore Exchange between December 2011 and September 2020 and holds 30,000 ordinary SingPost shares, the company said in a bourse filing. Ng formerly served as chief executive officer and executive director of SIA Engineering between April 2020 and September 2023.
The announcement comes months after SingPost announced the firing of three senior management executives over their negligence in handling internal investigations related to a whistleblower&rsquo s report, the company said.
They were former group CEO Vincent Phang, group chief financial officer Vincent Yik and the CEO of the company&rsquo s international business unit (IBU) Li Yu.
Phang stepped down from his role as the company&rsquo s non-executive, non-independent director in January, after being asked to resign as a director of SingPost and all its related companies. He held directorships in several SingPost-linked entities prior to his termination.
Yik and Yu were not previously on the company&rsquo s board.
Earlier in February, SingPost also announced the resignation of its then local operations CEO Shahrin Abdol Salam.
Neo Su Yin, who assumed the group chief operating officer (COO) role in January to oversee the group&rsquo s Singapore and international business units, among others, was named to take over after his departure.
Neo was formerly SingPost&rsquo s Singapore CEO from November 2021 to April 2024.
Parcelgate
SingPost received a whistleblower&rsquo s report earlier in 2024 relating to its non-regulated international e-commerce logistics parcels business. A whistleblower&rsquo s report on the same issue was also sent to the Infocomm Media Development Authority of Singapore.
After beginning investigations into the report, SingPost found that three managers in the IBU committed &ldquo serious breaches&rdquo in its code of conduct while handling delivery for one of the company&rsquo s largest customers.
They had performed or approved manual updates of the &ldquo delivery failure&rdquo status code for parcels SingPost had agreed to deliver even though no delivery attempt had been made. There was also no supporting documents.
The company fired the three managers with immediate effect on Dec 21, 2024, and filed a police report. It informed the customer about the whistleblowing reporting, as well as the findings and both parties agreed on a settlement.
On the day of their firing, Phang and Yik said in a joint statement that they would &ldquo vigorously contest&rdquo the termination of their employment, citing procedural unfairness, but later said in early January that they were prepared to abandon their litigation option if an independent professional inquiry were to be carried out.
SingPost said it would announce the appointment of a new group CEO &ldquo in due course&rdquo and that Isaac Mah, the current CFO of its Australian business, would be appointed as the new group CFO. The company said that an acting CEO would be appointed to lead the IBU but added that there were no plans yet to appoint a new IBU CEO.
The settlement is not expected to have material impact on SingPost&rsquo s net tangible assets or earnings per share for the current financial year, the company said in December.
Phang was appointed group CEO in September 2021 after joining SingPost in 2019 as CEO for postal services and Singapore. Yik joined SingPost in December 2021 after having previously held CFO roles at OUE Lippo Healthcare and Far East Orchard. Yu joined SingPost in September 2022 from United Parcel Service where he most recently oversaw its Asia-Pacific global logistics and distribution.
SingPost shares closed 0.9 per cent or S$0.005 up at S$0.56 on Friday before the announcement.
|
||||
| Useful To Me Not Useful To Me | |||||
|
shk363
Elite |
17-Feb-2025 14:50
|
||||
|
x 0
x 0 Alert Admin |
alibaba regret dumping too early | ||||
| Useful To Me Not Useful To Me | |||||
|
Tob231
Elite |
17-Feb-2025 14:06
|
||||
|
x 0
x 0 Alert Admin |
date for the egm should be out soon ... | ||||
| Useful To Me Not Useful To Me | |||||