SingPost considers divesting S$1.1 billion SingPost Centre and floating Australian business
SINGAPORE Post (SingPost) : S08 0% is looking at divesting its non-core assets, including its flagship retail-commercial mixed development SingPost Centre at Paya Lebar Central. Floating its Australian business is another option that has stemmed from its strategic review.
In a briefing on Tuesday (Mar 19) to disclose the findings, the listed national postal service provider’s group chief executive officer Vincent Phang said that SingPost Centre – valued at S$1.1 billion as at September 2023 – is a non-core asset.
However, he did not want to provide a timeline of the divestment of this property or other non-core assets, as the company pivots to be a pure-play logistics player.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Morgan Stanley, Frasers settle UK lawsuit over US$1 billion margin call
Venture posts lower Q1 net profit of S$60.1 million on weaker demand
YHI International COO and subsidiary charged with alleged failure to ensure employee safety, causing death
India's markets regulator puts seven Adani companies on notice for violations
Singapore stocks end week in red; STI down 0.1%
UK's FTSE 100 hits record highs on Anglo-American boost