Singapore Post (SingPost)

SingPost reports 10.3% rise in 2Q earnings to $27.7 mil on absence of exceptional loss

SINGAPORE (Nov 4): Singapore Post (SingPost) saw its earnings jump 10.3% to $27.7 million for the 2Q19/20 ended September, from $25.1 million a year ago.

However, the better performance was led by the absence of a $2.9 million fair value loss on warrants from an associated company incurred last year.

Excluding the impact of exceptional items, underlying net profit slipped 4.6% to $26.8 million for 2Q19/20, on the back of a drop in earnings from the Post and Parcel segment and freight forwarding business.

Briefs

SINGAPORE (Sept 23): “I don’t want you to listen to me. I want you to listen to the scientists. And then I want you to take real action.” 16-year-old climate change activist Greta Thunberg addressing the US Congress on Sept 19.

Anwar says he will be PM around 2020

Malaysian ruling party leader Anwar Ibrahim, who cut a deal to become the country’s next prime minister ahead of last year’s election, said in a Sept 18 interview with Bloomberg that he should take power around May 2020. 

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SingPost's US e-commerce units seek bankruptcy protection

SINGAPORE (Sept 19): Singapore Post (SingPost) today announced that its two e-commerce businesses in the US – Jagged Peak and TradeGlobal – have filed for voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code.

This came on the back of the group failing to find a buyer for the two e-commerce units. It ran a comprehensive sale process over almost six months, which saw 105 interested parties that signed non-disclosure agreements and led to eight expression of interest and finally two non-binding offers.

SingPost delivers 37.2% jump in 1Q earnings to $25.7 mil even as logistics, US business segments flounder

SINGAPORE (Aug 2): Singapore Post (SingPost) has delivered higher earnings in the 1Q19/20 ended June, despite losses in its logistics and US business segments.

Earnings jumped 37.2% to $25.7 million, up from $18.7 million a year before.

This resulted in earnings per share of 0.98 cent in 1Q19/20, up 48.5% from 0.66 cent in 1Q18/19.

The bottomline increase was mainly due to the absence of exceptional fair value loss on warrants last year from an associated company, GD Express.

Postal service player DPDHL bucks sunset trend as it takes on the world

SINGAPORE (July 22): German 10-year bund yields have spent much of July at -0.24% to -0.26%. For yield seekers, look no further than Deutsche Post, trading as Deutsche Post DHL Group (DPDHL), an interesting company that is trading at a dividend yield of 3.92% (see Chart 1). Its yield spread — the difference between dividend yield and risk-free rates — is more than 4%, given the current negative yield on risk-free bunds. The catch, of course, is tax. For German dividends, investors have to pay a withholding tax of 25%+5.5%.

Postal service player DPDHL bucks sunset trend as it takes on the world

SINGAPORE (July 22): German 10-year bund yields have spent much of July at -0.24% to -0.26%. For yield seekers, look no further than Deutsche Post, trading as Deutsche Post DHL Group (DPDHL), an interesting company that is trading at a dividend yield of 3.92% (see Chart 1). Its yield spread — the difference between dividend yield and risk-free rates — is more than 4%, given the current negative yield on risk-free bunds. The catch, of course, is tax. For German dividends, investors have to pay a withholding tax of 25%+5.5%.

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SingPost banks on postal services as new CEO battles to regain public trust

SINGAPORE (July 2): Vincent Phang, the new chief executive officer of postal services at Singapore Post (SingPost), is facing an uphill battle to regain public confidence after a series of service lapses, which has contributed to its shares sliding some 31% off its 52-peak of $1.39.

SingPost has been fined a total of $400,000 by the authorities for failing to meet delivery standards in 2017 and 2018. This includes incidents of postmen caught dumping mail instead of delivering it.

SingPost's yield seen stable even as company bolsters Singapore operations

SINGAPORE (June 24): Singapore Post’s dream to transform into an e-commerce play in the US came to an end when Amazon.com turned up at its door, literally.

In May, Amazon held a groundbreaking ceremony for its US$1.5 billion ($2.05 billion) logistics superhub in Cincinnati, promising to reduce the company’s reliance on third-party providers. The air hub, scheduled to open in 2021, is less than an hour’s drive from SingPost’s e-commerce and logistics subsidiary, TradeGlobal.

SingPost’s yield seen stable even as company bolsters Singapore operations

SINGAPORE (June 24): Singapore Post’s dream to transform into an e-commerce play in the US came to an end when Amazon.com turned up at its door, literally.

In May, Amazon held a groundbreaking ceremony for its US$1.5 billion ($2.05 billion) logistics superhub in Cincinnati, promising to reduce the company’s reliance on third-party providers. The air hub, scheduled to open in 2021, is less than an hour’s drive from SingPost’s e-commerce and logistics subsidiary, TradeGlobal.

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SingPost partners Synagie to provide on-demand warehousing and logistics solutions for SMEs

SINGAPORE (May 15): Singapore Post (SingPost) and Synagie Corporation will be collaborating to provide on-demand warehousing and fulfilment solutions to SMEs in Singapore and Southeast Asia.

SMEs in SE Asia will now be able to utilise state-of-the-art warehousing and fulfilment services provided by SingPost’s subsidiary Quantium Solutions, and powered by Synagie’s cloud commerce platform.

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