Modern history
In 1979, it was reported that the Postal Services Department would be merged with Telecommunication Authority of Singapore (TAS).[2] In 1980, Communications Minister, Ong Teng Cheong announced that a consideration was done to merge the Department and TAS.[3] The merger was scheduled to be done by April 1982 but was postponed to be completed in July 1982.[3] The department and TAS was finally merged on 1 October 1982.[4]In 1992, Telecoms was split into three entities, the reconstituted TAS (later becoming Infocomm Media Development Authority), Singapore Telecommunications Limited (SingTel) and Singapore Post Private Limited, an associated company of Singapore Telecommunications.[5]
In 1993, Singapore Post introduced Q-TV, a video-based "advertising medium" which shows post office information and commercials, targeting customers waiting for the next available counter.[6]
Singapore Post Limited was then incorporated on 28 March and then listed on the mainboard of the Singapore Exchange (SGX-ST) on 13 May 2003. It was then granted the first Public Postal License by TAS. As a licensee, Singapore Post is allowed to operate postal services - receiving, collecting and delivering letters and postcards from one place to another until 31 March 2037.[7]
In 2009, SingPost acquired the remaining 50% stake in G3 Worldwide Aspac (G3AP),[8] thereby giving the company presence in 10 countries (including Singapore). SingPost bought Quantium Solutions, a joint venture between SingPost, Dutch TNT and Britain's Royal Mail.[9]
SingPost also raised its stake in Malaysian Logistics company GDEX to 27% in 2011.[10]
Alibaba bought a 10.35% stake in SingPost for S$312.5 million in May 2014. Both parties also signed an agreement to pursue a joint venture in the business of e-commerce logistics. In 2018, SingPost chose to integrate AI-assisted route planning software from LogiNext into its logistics platform, dubbed LaMP.[11]
In October 2015, SingPost acquired a 96.3 per cent stake in TradeGlobal for US$168.6 million (S$210 million), thereby expanding its e-commerce footprint in the United States.[12] SingPost also trialed a drone delivery system, using a commercial drone modified by a joint team from SingPost and Infocomm Development Authority Labs.[13]
SingPost was fined S$100,000 in 2017[14] and S$300,000 in 2018[15] for failing to meet mail delivery standards by the Infocomm Media Development Authority.
In March 2024, SingPost group announced the reorganisation of the company into three business units: Singapore, Australia and International.[16]
On the evening on 22 December, it was announced that CEO Vincent Phang was sacked together with two other senior executives over mishandling of whistleblower's report.[17] The whistleblower reported that manual entries of delivery status codes by the international business unit were done without supporting documents to avoid paying contractual penalties to a customer.[17] Phang and group chief financial officer Vincent Yik announced they would contest the decision by SingPost.[18]
In February 2025, SingPost laid off 45 employees as part of a "restructuring" exercise.[19] In May, SingPost announced that it made a full year net profit of S$245.1 million (US$188 million) for its financial year that ended Mar 31, more than double of the previous year. The increase of profit is due to the sale of its Australia business Freight Management Holdings.[20]
