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SingPost on ‘hold’ as new Group CEO and management hammer out group’s strategy

PC Lee
PC Lee8/7/2017 02:57 PM GMT+08  • 2 min read
SingPost on ‘hold’ as new Group CEO and management hammer out group’s strategy
SINGAPORE (Aug 7): Maybank Kim Eng is putting national postal provider SingPost on “hold” as new Group CEO Paul Coutts and the leadership team review and update the group’s strategy and deliver a performance improvement roadmap over the next few mon
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SINGAPORE (Aug 7): Maybank Kim Eng is putting national postal provider SingPost on “hold” as new Group CEO Paul Coutts and the leadership team review and update the group’s strategy and deliver a performance improvement roadmap over the next few months.

Management highlighted that this will distinguish the core and non-core segments and identify additional investments needed for the group.

In 1Q18, SingPosts’s core earnings missed Maybank’s forecast by about 10% as the operating profit of postal segment fell 14% y-o-0y due to falling domestic mail volume.

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