SingPost clarifies Famous Holdings sale not yet certain

This comes after Maybank said that a potential sale could raise at least $80m.

Singapore Post Limited (SingPost) clarified that there is still no certainty that any transactions will arise amidst discussions with third parties on a potential sale of its freight forwarding business Famous Holdings.

This comes after Maybank posted a report stating that it expects ‘the sale of Famous Holdings to conclude by end-Jan 2025 which should raise another $80m to $100m in proceeds”.

SingPost previously announced its strategy to monetise non-core assets and businesses to recycle capital, and a list of these non-core assets and businesses, which includes Famous Holdings Pte Ltd, has been identified.

SingPost has also previously announced on 2 December 20242 the proposed sale of SingPost Australia Investments Pty Ltd, an indirect wholly-owned subsidiary of SingPost which holds the equity interest in Freight Management Holdings Pty. Ltd.

The proposed sale of SingPost Australia Investments Pty Ltd is subject to shareholders’ approval at an extraordinary general meeting of the Company expected to be held in February 2025.

SingPost wishes to advise its shareholders to refrain from taking any action in respect of their shares in SingPost which may be prejudicial to their interests.

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