SINGAPORE (Oct 31): DBS Group Research believes recently-announced adjustments to Singapore Post’s (SingPost) existing services are “steps in the right direction”. However, the brokerage cautions that key headwinds remain, which could offset some of the benefits that could arise from the changes.
SingPost announced Wednesday that it is making certain revisions to its existing services, which will take effect from Dec 2.
It claimed that the move is imperative to “meet the demands brought about by changes in Singapore’s postal landscape”. Such changes include the growth of eCommerce and falling mail volumes, SingPost said in a statement.