Singpost on Thursday announced that it has, through a wholly owned subsidiary, entered into a sale and purchase agreement with Triforce Investments for the sale of the General Storage Company (Lock+Store) for an estimated S$85.1 million.

 

The General Storage Company is a subsidiary of SingPost that offers private storage facilities. The move comes as part of SingPost' s strategy of recycling capital through the divestment of non-core assets, said the company in bourse filing.

 

The proposed disposal is estimated to result in a gain of about S$6 million after transaction costs. The transaction is expected to take place on Oct 15 should conditions of the agreement be met. Upon the completion of the disposal, the General Storage Company and its subsidiaries will no longer be part of the SingPost Group.

 

Proceeds from the sale would be channelled towards the group' s transformation initiatives and efforts to reposition itself for long term, sustainable growth, according to SingPost.

 

The consideration was mutually arrived at after arms' length negotiations on a willing-seller and willing-buyer basis after taking into consideration the discounted future cashflows of the business from its portfolio of owned and leased properties with adjustments for levels of debt, cash and working capital.

 

The General Storage Company was valued at between S$77 million and S$91 million, based on the last valuation by the company as at March 31. The valuation was derived at based on the income approach of different scenarios, and is the sum of estimated annual after-tax free cash flows of the business in the respective scenarios, discounted to their present.

 

Assuming that the proposed disposal had been completed on March 31, the consolidated net tangible assets per share of SingPost on a pro forma basis would be 62 Singapore cents versus 60.3 cents before the disposal.

 

Earnings per share on a pro forma basis would have been 1.4 cents after the proposed disposal compared with 1.46 cents before the divestment.

 

SMRT, SPTel and SingPost SingPost: S08 +0.75% have been hard at work in August, rolling out initiatives involving new technologies that seek to set themselves apart from the competition.

 

Stellar Lifestyle, formerly known as SMRT Commercial, announced on Wednesday that it would introduce robot baristas at its MRT stations in partnership with Crown Digital, a Singaporean startup with expertise in food and beverage technology.

 

By the end of next year, commuters taking the train will be able to order beverages ahead of time via an app during their commute and collect their drinks at some 30 MRT stations.

 

The robot barista making the coffee, ELLA, will occupy less than five square metres. It will also have a cashless and contactless interface that can serve up to 200 cups of coffee per hour to commuters.

 

Aside from making coffee, the robot barista will also have security features such as artificial intelligence (AI) powered vision system for round-the-clock " live" video analytics monitoring, as well as an advanced AI-powered computer vision system that can spot anomalies like spillage and foreign objects.

 

Stellar Lifestyle had earlier invested in Crown Digital' s pre-Series A fundraising round and ELLA' s deployment is part of this deal. In December 2020, Crown Digital also signed an agreement to deploy ELLA for test marketing at Japanese train stations operated by JR East.

 

Aside from automated baristas, urban farms are also seeking the help of local companies to improve their operations.

 

On Aug 10, SPTel, a joint venture between ST Engineering ST Engineering: S63 +0.25% and SP Group, announced that it would implement Internet of Things-as-a-service (IoT-a-a-S) with local agritech player AbyFarm to deploy IoT applications to enhance food production processes as well as improve productivity and crop yield.

 

Currently, urban farms face issues sourcing and identifying the right applications, sensors and technologies for such uses. This results in increased cost as farms end up investing heavily in the use of multiple IoT devices across different vendors.

 

SPTel said that it would help by providing an integrated platform that monitors and manages different sensors and applications regardless of their gateway deployment requirements.

 

Such sensors would be able to detect variables such as plant health and growth, as well as temperature, humidity and nutrient levels. Additional sensors can also be added easily, allowing farmers to retain centralised control of all their devices and applications.

 

" Through this deployment, we are able to become a sustainable self-regulating urban farm with IoT, automation and crop blockchain ledger that enables farm-to-table traceability for improved food safety and security," said AbyFarm director and co-founder Phoebe Xie.

 

On Wednesday, ST Engineering shares closed at S$3.96, up one cent or 0.25 per cent.

 

Farms are not the only ones seeking to improve operating efficiency through technology either, as SingPost announced on Monday that it would commence pilots of fully electric three-wheeler scooters and vans to reduce the company' s fuel consumption and greenhouse gas emissions.

 

The IONA RAP three-wheeler, will emit roughly 75 per cent less greenhouse gases, while still having a slightly higher maximum cargo volume of 500 litres, up from the 462-litre cargo volume of current fuel-consuming three-wheelers and the 164-litre cargo volume of motorcycles.

 

Meanwhile, the BYD T3 van, distributed by ST Engineering Mobility Services, will also emit roughly 50 per cent less greenhouse gases compared to their petrol-fuelled equivalents. These electric vehicles (EVs) will help the company achieve its goal of having a 100 per cent electric delivery fleet by 2026.

 

Said SingPost chief executive officer of postal services and Singapore Vincent Phang: " By converting our delivery fleet to a fully electric one, we will be delivering a greener Singapore for everyone."

 

SingPost said it is committed to a 35 per cent reduction in absolute greenhouse gas emissions from FY2019 levels by FY2030.

when its positioning all wrong in the past

 

https://www.youtube.com/watch?v=XeGF2PoVNFc

if he aims properly he should put the company in the right position by 2022

 

THE board of Singapore Post (SingPost) SingPost: S08 0% announced on Friday that Vincent Phang will be named group chief executive officer (CEO) and executive, non-independent director from Sept 1.
The current group CEO Paul Coutts' last day with the postal service provider is Aug 31. Mr Coutts had spent some four years at the helm, and his resignation was announced about two months ago.
Mr Phang, 47, is currently SingPost' s CEO for postal services and Singapore, and joined the company in April 2019.
His latest appointment came after an extensive global search process, which considered both internal and external candidates, and has received all required regulatory approvals, SingPost said in a statement. Mr Phang has repositioned SingPost' s postal business by " significantly improving the service quality of both postal and last-mile delivery operations" , the company added.

the incoming ceo will do some good and sustainable projects to boost the under performed share price soon

 

https://www.youtube.com/watch?v=bePgfqQ1tk4