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SingPost's shift in focus to e-commerce logistics: the start of a restructuring?

Samantha Chiew
Samantha Chiew5/14/2021 06:31 AM GMT+08  • 7 min read
SingPost's shift in focus to e-commerce logistics: the start of a restructuring?
Could SingPost's shift in focus to e-commerce be the start of its restructuring?
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For the past few years, Singapore Post (SingPost) has been struggling with inconsistent growth, owing to several reasons — from underperforming associates, high competition landscape to currently, the Covid-19 pandemic.

Although FY2020 ended March 2020 proved to be a good year for SingPost, as it hitched on the e-commerce boom amid the Covid-19 pandemic, its growth was short-lived.

This time, for its latest FY2021 results, earnings were once again down by 47.7% y-o-y to $47.6 million from $91.1 million a year ago. The group blamed this on Covid-19-related disruptions.

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