The poll was conducted after SingPost said last month it saw an impairment risk to the book value of its US unit. The company is now conducting a review of the business which is “expected to remain loss-making in the current financial year," Mei Yu Hong, a company spokeswoman told Bloomberg by email on Feb 20.
SINGAPORE (Mar 13): Singapore Post is likely to wind down or sell its loss-making US e-commerce business after conducting a strategic review of the unit, according to a Bloomberg survey.
A potential divestment or shuttering of the business will bode well for SingPost’s long-term profitability, according to four analysts covering the stock. Two brokers including CLSA have factored in benefits from a possible transaction in their earnings estimates.
