SingPost to impose higher postage rates in October
The rate for standard regular mail will increase by 20 cents to 51 cents.
Starting 9 October, SingPost will have higher rates for standard regular mail.
In a bourse filing, SingPost said postage rates will increase by 20 cents to 51 cents, up from the current 31c “to reflect the escalating costs of maintaining the postal service.”
SingPost added that the rate increment is necessary for it to continue “serving its obligations as Singapore’s public postal licensee while allowing further exploration of a more sustainable postal business model in the long term, balancing the need to remain viable while safeguarding the interests of its shareholders.”
The last time SingPost implemented a significant rate increment was nine years ago in 2014, when postage increased from 22 cents to 30 cents.
Apart from an increase, SingPost will also introduce changes to its domestic postage rates structure, including the elimination of the weight criteria.
“Starting from the end of October 2023, SingPost will issue a 1st Local stamp booklet (of 10 stamps) to each household to help manage the postage increase,” SingPost announced.