As it pivots to logistics in an attempt to mitigate the secular decline in its Singapore postal business, the business that it is now proposing to sell has become the the group’s top profit contributor
ON THE face of it, shareholders of Singapore Post (SIngPost) should be happy about the company’s proposed sale of its Australian logistics business.
SingPost earlier this month announced it is selling its subsidiary offering fourth-party and third-party logistics solutions in Australia – which is ranked among the top five of such players Down Under – at an enterprise value of A$1 billion (S$856.4 million).
For shareholders, this would translate to SingPost reaping some S$312.1 million in gains on disposal.
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