Similarly, SingPost has pledged to divest its non-core assets and businesses after completing a strategic review initiated in May 2023 and concluded in March 2024. Following the review, SingPost reorganised its operations into three business units — Singapore, Australia and International — and identified a list of assets deemed non-core to its business. These would be divested to deploy capital back into its main businesses.
Singapore Post (SingPost) may see a trajectory similar to Singapore Press Holdings (SPH) if it remains focused on divesting its non-core businesses, says Nicholas Yon of Lim & Tan Securities. Commenting after SingPost’s FY2025 ended March 31 results, Yon drew parallels to SPH’s multiple divestments to refocus on its core business segments, including its media operations at the time.
In 2017, SPH sold its stakes in Mediacorp TV and Today, and divested its stake in the convenience store chain Buzz Shop in 2020. In 2021, the group hived off its core media business into SPH Media Trust, before eventually going private, after a high-profile bidding war between Keppel and Cuscaden Peak, in 2022.
