Singapore Post is Singapore's dominant provider of domestic and international postal services, with a history dating back to 1819. The Singapore Postal Services Department became a fully autonomous body in January 1967. Following a merger in 1982, the Telecommunication Authority of Singapore ('TAS') took over the provision of postal services from the Postal Services Department. In the late 1980s, the Singapore Government announced plans to privatise the telecommunications services provided by the TAS.
Singapore Post Limited was incorporated on 28 March 1992. Pursuant to a licence granted by the Info-communications Development Authority of Singapore, SingPost was granted to be the exclusive provider of basic mail services with respect to letters and postcards (excluding express letters) in Singapore until 31 March 2007, and a non-exclusive provider of these services until 31 March 2017.
The principal activities of Singapore Post consist of the operation and provision of post and parcel, ecommerce logistics and property. Its subsidiaries are principally engaged in provision of business mail solutions and distribution of mail, investment holding and provision of electronic platform and recyclable lockers for merchandise distribution
Singapore Post is traded on the Singapore Stock Exchange under the code S08.
Post and parcel - The post and parcel segment provides services for collecting, sorting, transporting and distributing domestic and international mail (both letters and parcels). International mail service covers the handling of incoming international mail and outgoing international mail. In the year end March 31, 2019, the parcel and post segment represented 49.13% of total revenue (SGD 764.8 million).
Logistics - The logistics segment provides a diverse range of logistics solutions, comprising freight, warehousing, domestic and international distribution, and delivery services. The services include ecommerce logistics, warehousing, fulfilment and distribution, and other value-added services (Quantium Solutions) and freight forwarding (Famous Holdings). In the year end March 31, 2019, the logistics segment represented 31.87% of total revenue (SGD 496.1 million).
Ecommerce - The ecommerce segment provides a wide variety of products and services beyond the scope of traditional postal services, including agency services, financial services and front-end ecommerce solutions. In the year end March 31, 2019, the ecommerce segment represented 15.99% of total revenue (SGD 248.9 million).
Property - The property segment comprises commercial property rental and the self-storage business (General Storage). Rental income is derived from the SingPost Centre retail mall, which commenced operations in October 2017 after a period of redevelopment. In the year end March 31, 2019, the property segment represented 5.83% of total revenue (SGD 90.7 million).
Note: Inter-segment eliminations represented SGD -43.8 million in the year end March 31, 2019.
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