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Singapore Post

#6808

Rank

$598.4M

Marketcap

SG Singapore

Country

Singapore Post
Leadership team

Mr. Heng Wee Phang (Group CEO & Exec. Non-Independent Director)

Mr. Huan Kiap Puar (Group Chief Information Officer)

Mr. Loh Jiet Lim (Head of Corp. Planning & Investor Relations)

Products/ Services
E-Commerce, Freight Service, Logistics, Retail, Supply Chain Management
Headquarters
Singapore, Central Region, Singapore
Established
1819
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
S08.SI
Social Media
Overview
Location
Summary
Singapore Post Limited, together with its subsidiaries, engages in post and parcel, eCommerce logistics, and property businesses in Singapore, Japan, Europe, New Zealand, Hong Kong, Australia, and internationally. It operates through Post and Parcel, Logistics, and Property segments. The Post and Parcel segment offers services for collecting, sorting, transporting, and distributing domestic and international mail, as well as sells philatelic products. This segment also provides agency services, financial services, and parcel deliveries. The Logistics segment offers freight forwarding and eCommerce logistics solutions, which includes front-end related eCommerce solutions, warehousing, fulfilment, delivery, and other value-added services. The Property segment provides commercial property rental, and self-storage services. The company is also involved in the online sale of products; and provision of management and consultancy services to related entities, as well as integrated supply chain and distribution services, and logistics consulting services. In addition, it provides customs brokerage and freight forwarding services; and freight collections transshipments services. Additionally, the company provides online shopping platforms and services. The company was founded in 1819 and is headquartered in Singapore.
History

Early history

Postal Services were available in Singapore since the island was founded by Sir Stamford Raffles in 1819. Initially, mail services were handled by the military authorities and then by the Master Attendant in 1823. The volume of mail was very small in those days and letters were collected and delivered from a single mail office. The Post Office, as it was then known, shared a room with the Master Attendant's Marine Office and the clerk to the Registrar of Import and Export. The whole establishment of the post office in the 1830s consisted of one European clerk, one local writer and a peon.

To cope with the increasing volume of mail, the Post Office, then known as the Singapore Post Office, later General Post Office, was moved in 1854 to its own building near the Town Hall by the side of the Singapore River. Although it was more spacious, there were frequent complaints regarding its location. The Commercial Square was on the opposite side of the river, so going to the Post office was inconvenient as one had to cross the river by boat. After 1856, a footbridge was constructed across the river and a toll of 1?4 cent was levied.

As trade flourished in Singapore and both postal and marine traffic grew heavier, the Post Office was separated from the Marine Office and it became a separate department in October 1858. During the period 1819 and 1858, letters for posting had to be handed in at the Post Office. No postage stamps were used but a register was kept of all letters received at the Post Office and of the names of sailing ships on which they were conveyed.

Stamped receipts were also given for all letters sent to the Post Office for dispatch. For the convenience of the residents, a register was kept of their individual postage accounts on the understanding that all postage due would be regularly settled every month. The first postage stamps were introduced for payment of postage only in 1854. In the early days, the flagstaff at Government Hill was eagerly watched as flying of a flag at daylight, or the firing of a gun at night, signified the arrival of a ship with mail. This infused new life into the quiet community.

On receipt of letters from incoming ships, the Post Office sorters would proceed to register alphabetically all the letters before sending them out through the postmen for delivery. Postal delivery services by means of bullock cart, horse carriage or on foot, were first restricted to the town area. Posting boxes were later installed in the town area for the posting of mail which were then collected by horse-drawn mail coaches.

In 1873, a new General Post office was built on the site of the former Fort Fullerton, a location which was much nearer to the commercial centre of the town. However, the British Government failed to foresee the needs of the future, with the result that the building had to be replaced by another on practically the same site. The new General Post Office was completed in 1885, three years after approval was obtained.

The General Post Office was closed on 23 April 1921. All the equipment were moved to a building on the recently reclaimed land at Collyer Quay, and staff worked at this temporary post office during the construction of Fullerton Building. The post office was transferred back to Fullerton Building on 23 July 1928 and has remained there since.

The latter part of the 19th century marked the modern phase of the development in the history of the Singapore postal service. Services were extended to include a parcel post service, money order and postal order services and a post office savings bank. 1897 saw the establishment of the first sub-post offices, and by 1938, some 20 sub-post offices were already providing decentralised postal facilities on the island. The horse-drawn mail coaches were withdrawn and replaced by motor vans in 1914 as the mail traffic handled steadily increased.

Modern history

In 1982, the Postal Services Department merged with Telecommunication Authority of Singapore, also known as Telecoms.

In 1992, Telecoms was split into three entities, the reconstituted Telecommunication Authority of Singapore , Singapore Telecommunications Limited and Singapore Post Private Limited, an associated company of Singapore Telecommunications.

Singapore Post Limited was then incorporated on 28 March and then listed on the mainboard of the Singapore Exchange 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.SingPost was fined S$100,000 in 2017 and S$300,000 in 2018 for failing to meet mail delivery standards by IMDA.

Mission
SingPost is committed to transforming itself to make life and business easier for customers and becoming an integral part of its customers’ lives by offering a wide range of reliable, accessible and affordable services and products.
Vision
To be the most trusted and most innovative leader in providing end-to-end solutions, services and products to customers in all markets we serve.
Key Team

Mr. Wei Hsin Ooi (Company Sec., Gen. Counsel & Head of Group Legal and Compliance)

Mr. Robin Goh (Group Chief Brand & Communications Officer)

Ms. Marjorie Ooi (Sr. VP of Financial Services)

Ms. Sara Gerdner Kalle (Sr. VP of Group Sales)

Ms. Hui Ling Goh (Deputy Chief Exec. Officer of International Mail)

Ms. Cynthia Lee (Group Chief HR Officer)

Ms. Michelle Lee (Head of Corp. Services & Sustainability)

Recognition and Awards
SingPost has won numerous local and international awards, including the Supply Chain Asia Award for Excellence in Logistics and the Asian Excellence Recognition Award for Best Logistics Company. SingPost has also been awarded the Singapore Brands Award for Logistics Services and the Asian Freight and Supply Chain Award for Most Innovative Logistics Company.
References

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Singapore Post
Leadership team

Mr. Heng Wee Phang (Group CEO & Exec. Non-Independent Director)

Mr. Huan Kiap Puar (Group Chief Information Officer)

Mr. Loh Jiet Lim (Head of Corp. Planning & Investor Relations)

Products/ Services
E-Commerce, Freight Service, Logistics, Retail, Supply Chain Management
Headquarters
Singapore, Central Region, Singapore
Established
1819
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
S08.SI
Social Media