SingPost should quickly cut borrowings by divesting its non-core properties now
November 26, 2024 / /
Over the past two years, the group has shuttered 12 post offices, leaving another 44 that are located at SLA properties, ground floors of HDB shophouses and other commercial setups such as malls
ON THE face of it, national postal service provider SINGAPORE Post (SingPost) delivered an impressive improvement to its bottom line for the first half ended September.
For its H1 FY2025, the group posted earnings of S$22.6 million – up 97.3 per cent.
But on closer inspection, SingPost could have reported a much higher profit, if not for the S$24.6 million it forked out in finance expenses.
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