TRANSPORT & LOGISTICS | Tim Charlton, Singapore

Is SingPost waiting in vain for e-commerce gains?

It has recently lost $65.2m in the e-commerce business.

Singapore Post's recent net loss of $65.2m proves it still has a long way to go in delivering its e-commerce promise. The loss is due to the impairment of its intangible assets for TradeGlobal.

According to OCBC Investment Research, SingPost faced setbacks in e-commerce segment with TradeGlobal losing key customers.

"In the fast-moving world of e-commerce, it is currently unclear to us if this segment can turn in a net profit by FY19," the brokerage firm said.

To recall, SingPost's e-commerce segment incurred an operating loss of $33.8m in the quarter.  

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