Singapore Post

[la papillion]

When I received my pioneer magazine, I realised that the magazine is now courier delivered by one of singpost's competitors - StarPost, which is a subsidiary of AJ couriers Pte ltd. AJ is the company who made some noise in ST not too long ago (see previous post) about condo guards refusing to let them enter the premises to deliver the mails, citing that they are not Singpost hence they are not authorised.

Pioneer magazine wasn't hand delivered to my doorstep in the past, because it was then delivered by singpost, who had access to the keys to open the mail box located at the void deck of HDB flats. I supposed AJ courier do not have the keys, and so have to hand delivery.


Two things I wanted to highlight by sharing this:

1. Why did Mindef let a subsidiary of AJ courier, StarPost, to deliver their Pioneer magazine? Cost? Reach? It seems unlikely that the smaller and less established AJ courier could outbid Singpost. I wonder why.

2. I wonder what will happen if other postal operators have access to the keys to the mail boxes. The balance of powers will shift.


With the revenue of 70-80% coming from domestic posts, this could break or make singpost.

[blid2def]

I dunno - but I know that a lot more people holding the master key = a lot more junk mail. A LOT A LOT.

[kennynah]

serious buyers, will pay more than $20K cash above valuation for your unit....

please call Ms Siow Ting Tong at 91234567

one example of such everday rubbish in the mailbox

[la papillion]

I dunno - but I know that a lot more people holding the master key = a lot more junk mail. A LOT A LOT.

GD, who's that face? haha

[blid2def]

Hahaha... it's 奸人坚..

http://tvcity.tvb.com/drama/men_don_t_c ... index.html

「貓捉老鼠，隻老鼠死咗，咁隻貓玩乜嘢？我要慢慢玩殘你。」

[kennynah]

the actresses like not very sui leh....

[winston]

RESEARCH ALERT-Morgan Stanley ups SingPost to overweight

SINGAPORE, Dec 12 (Reuters) - Morgan Stanley raised its rating for shares of Singapore Post to "overweight" from "equal-weight" on Friday, citing the company's high dividend yield and defensive profile.

"If the share price fails to appreciate to our target price, we believe the implied dividend yield would be attractive for income investors looking for high defensive yield stocks to ride the volatile equity market," analyst Chin Y. Lim said in a note.

Morgan Stanley said it expects SingPost's operating profit to decline marginally next year in light of a slowing Singapore economy and cut SingPost's 12-month target to S$1.01 from S$1.23.

SingPost's shares ended at S$0.76 on Thursday.

[millionairemind]

Singapore Post
Buy
OCBC Investment Research
Jan 2
Close: $0.795

IN POST we trust: Singapore Post is the country's designated public postal licensee. It provides domestic and international mail services and logistics in the domestic market. Its global service offerings cover more than 220 territories and countries. Leveraging on its retail distribution network, SingPost also provides agency and financial services. In H1 FY2009 (the six months to Sept 30, 2008), the group achieved a 4.3 per cent y-o-y rise in revenue to $241.6 million but reported a 1.5 per cent fall in net profit to $76.9 million. Excluding one-off items, underlying net profit was 11.5 per cent higher at $77.7 million.

Despite the liberalisation of the basic mail services market in April 2007, SingPost remains the dominant postal services operator. Only it can hold the masterdoor keys to letterboxes provided by property owners and developers, including those in Housing & Development Board estates, as dictated by the Infocomm Development Authority. With other advantages like an established distribution network, significant free cash flow, a monopoly on stamp issues and an entrenched brand name, we reckon liberalisation should have limited impact on SingPost.

SingPost has stable operating and free cash flows, given the nature of its business. It has also been increasing its dividend per share since its listing in 2003, to $0.0625 in FY2008. Amid the uncertainty in today's stock markets, its earnings are comparatively defensive. Although mail volume growth may be affected by e-substitution and the slowing economy, SingPost has taken pro-active measures, as evidenced by its initiatives and diversification of services.

The defensive nature of SingPost's business and its dominant market position render it an attractive investment. Its pro-active measures demonstrate its resolution to safeguard its profits, making it an even more compelling stock. Moreover, with a long list of properties under its name, SingPost may be able to unlock asset value when the time is ripe. We initiate coverage of SingPost with a 'buy' recommendation and $0.93 fair value. SingPost has a dividend policy of a minimum of $0.05 per share per year, implying at least a 6.3 per cent yield. Assuming SingPost continues its $0.0625 dividend per share in FY2009, this would imply a 7.9 per cent yield, which is attractive given its defensiveness.

[Mr_Boring]

I am not impressed with their speedpost services. Thrice I have indicated delivery date and time, a week in advance for parcel deliveries. They not only failed to deliver, they fail to give any courtesy call that they will not be delivering. Wasting my previous morning.

[winston]

Many years ago, one Life Insurance company told me that they would be selling Insurance thru Sing Post

Tells me alot about how much they know about selling Insurance , the Insurance Company that is ..