“Despite a near-term solution to SingPost’s mailing segment woes, we are still uncertain over the success of the postal rate hike given the sharp increase in mailing costs, coupled with the lack of clarity over SingPost’s group strategic review,” says Tan in his Sept 20 report.
UOB Kay Hian analyst Llelleythan Tan has kept his “hold” call on Singapore Post (SingPost) (SGX:S08
) after the group announced that it would be increasing its postal rates by 64.5% from October onwards.
SingPost, on Sept 19, announced that it will increase its rates for standard regular mail to 51 cents, 20 cents higher than the current rate of 31 cents.
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