“These aged trade payables relate to international settlements with overseas postal administrators for international industries. We will now derecognise aged trade payables that exceed a seven-year threshold. This will remove long-standing balances from the current trade payables in the balance sheet, better reflecting the company’s current financial position,” says group CFO Isaac Mah.
Singapore Post’s (SingPost) latest set of results yet again reflects the group’s struggles. For FY2026, SingPost reported earnings of $60.9 million, 75.2% lower y-o-y. Profit from continuing operations was down by 73.6% y-o-y to $62 million, while the group made a loss from discontinued operations of $2.5 million, reversing from the previous year’s profit of $10.1 million.
For the first time, the group has also included the derecognition of aged trade payables, which added $38.1 million to its bottom line. Strip out that line, and the underlying picture looks bleaker.
