SingPost, the incumbent postal operator in Singapore, returned to profitability in 2024 with an operating profit of SDG 7.5m, reversing the previous year's SGD 12m loss. The turnaround in profitability was driven by an 11% increase in e-commerce volumes, improved international business results, and a postage rate adjustment in October 2023. However, overall SingPost’s postal business faces a revenue decline.
SingPost’s current designation as the universal service provider will last until April 2027. The postal operator also holds exclusive rights to place letter boxes, print stamps and manage the postal code system. SingPost is, however, subject to access obligations.
The express letters and basic mail (i.e. letters and postcards) markets have been liberalised since 1995 and 2007, respectively, but remain subject to regulation.
The parcels market is not regulated, as it was found to be sufficiently competitive.
Cullen International’s latest special report reviews the Singapore postal market, providing market and financial data on SingPost, as well as the information on the operator’s sustainability targets and actions.
The report also analyses the regulatory framework, including the rules governing:
- universal service;
- specific rights for the universal service provider;
- quality of service;
- licensing regime;
- letter boxes and parcel lockers; and
- competition.
For access to the special report, please click on “Access the full content” - or on “Request Access”, in case you are not subscribed to our Postal service.
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