SINGAPORE (Dec 4): DBS Research is maintaining its "hold" call on Singapore Post with a target price of $1.23 after the announcement of higher postage rates for international small packets.
Currently, small packets, letters and printed papers weighing not less than 2kg come under international airmail rates.
With effect from Jan 2, small packets will be under a new rate structure with hgher minimum postage across the board, with increases of $2 to $3.50 per packet. Currently, international mail revenue contributes 25% to Singpost’s total revenue.
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