Brief: Singapore Post Says Completion Of Strategic Review Of Group

Singapore Post

19/03/2024 06:11

March 19 (Reuters) - Singapore Post Ltd  SPOS.SI :
    * COMPLETION OF STRATEGIC REVIEW OF GROUP
    * BELIEVES GROUP IS WELL POSITIONED TO SCALE ITS LOGISTICS
AMBITIONS OVER NEXT FEW YEARS
    * REVENUES GENERATED OVERSEAS NOW CONTRIBUTE MORE THAN 85%
OF BOTH
TOTAL GROUP REVENUE & OPERATING PROFIT
    * APPROVED 5 STRATEGIC THRUSTS FOR GROUP TO BE EXECUTED OVER
NEXT
3 YEARS
    * IDENTIFIED A LIST OF ASSETS AND BUSINESSES THAT ARE
NON-CORE TO
ITS STRATEGY WHICH CAN BE MONETISED TO RECYCLE CAPITAL
    * APPROVED REORGANISATION OF GROUP INTO 3 BUSINESS UNITS OF
SINGAPORE, AUSTRALIA AND INTERNATIONAL
    * IDENTIFIED LIST OF NON-CORE ASSETS INCLUDES SELECTED
PROPERTIES
AS WELL AS VARIOUS ASSETS IN ITS INTERNATIONAL FOOTPRINT
    * FROM FY2024/25, BOARD TO ADOPT DIVIDEND POLICY OF PAYING
OUT
BETWEEN 30% & 50% OF UNDERLYING NET PROFIT
    * INTERNATIONAL BUSINESS UNIT WILL FOCUS ON SERVING
CROSS-BORDER
ECOMMERCE CUSTOMERS

Further company coverage:  SPOS.SI 

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