In its Sept 19 release, SingPost said that the rate increment was “necessary” for the group to continue serving its obligations as Singapore’s public postal licensee. The move will also allow the group to allow “further exploration” of a more sustainable postal business model in the long term.
Singapore Post (SingPost) (SGX:S08
) has increased its rates for standard regular mail to 51 cents, 20 cents higher than the current rate of 31 cents. This is to reflect the escalating costs of maintaining the postal service.
The group, on July 6, said that it will work with the Infocomm Media Development Authority (IMDA) to review its costs and operating model to ensure the sustainability of its postal services.
