SINGAPORE – Through a multi-pronged strategy, SingPost will attempt to transform itself fully into a logistics company within three years, group chief executive Vincent Phang said during a review of the business on March 19.
The move, which comes after an eight-month-long review, could involve selling SingPost Centre in Paya Lebar, as well as a partial stake in its Australian business to improve shareholder returns. It will also see a change in the company’s dividend policy.
These plans fall under the group’s strategy of managing capital more efficiently.
This focus could see non-core assets – including the group’s SingPost Centre – divested and the sales proceeds used to pay down debt, invested in its faster-growing businesses or returned to shareholders.
SingPost Centre was valued at $1.1 billion as at September 2023.
Another initiative is the reorganisation of its business lines into geographic segments consisting of Australia – which accounts for around 60 per cent of the group’s revenue and profits – along with both Singapore and the international operations.
هذه القصة مأخوذة من طبعة March 20, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة March 20, 2024 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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