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SingPost

Starship
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29-Mar-2019 18:20     
 
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Singpost Soooooooooooooooo Riiiiiiiiiiiiiich keeps donating to the govt.....................  laughcheekydevil


SingPost fined S$300,000 for service lapses in 2018
FRI, MAR 29, 2019 - 12:56 PM

SINGAPORE Post (SingPost) has been fined S$300,000 for not meeting quality of service (QoS) standards for the delivery of local basic letters, as well as registered and international mail in 2018, the  Infocomm Media Development Authority (IMDA) announced in a statement on Friday. 

Under IMDA' s Postal QoS framework, SingPost is required to deliver 99 per cent of local basic letters to an address within the Central Business District (CBD), and 98 per cent of local basic letters to destinations outside the CBD areas by the next working day.

SingPost failed to so in March, April, July and August 2018, when it did not deliver 99 per cent of local basic letters within the CBD by the next working day. 

SingPost  is also expected to deliver all local basic letters and registered mail by the second working day. However, it failed to meet the requirements for the delivery of local basic letters by the second day for nine months last year, and did not deliver all registered mail by the second working day for four months in 2018. 

In addition, the Postal QoS framework requires SingPost to deliver 99 per cent of international incoming basic letters received before 3pm at SingPost Centre to an address within the CBD, and 98 per cent of international incoming basic letters to destinations outside the CBD by the next working day. SingPost also has to despatch 100 per cent of processed outgoing basic letters to departing flights by the next working day. 

However, the company failed to meet the requirements for the delivery of international incoming basic letters within the CBD in the months of March, April, and June last year. 

IMDA said that in assessing the penalties, it took into account that SingPost had 20 incidents of non-compliance in 2018, versus nine incidents in 2017. These were repeated failures, and in some cases involved lost letters, IMDA added.

That being said, the authority also noted that the failure margins in 2018 were generally lower on average compared to the year before.

Separately, IMDA announced that it has completed investigations of the postman who had  discarded returned mail and advertisement mails at Reflections at Keppel Bay last year. 

The postman,  Liu Zhengang, was dismissed by SingPost after the incident and has since returned to China. 

IMDA&rsquo s investigation found the postman to have breached the Postal Services Act for discarding postal articles and has issued an advisory to him. He will be barred from employment in Singapore, and will be arrested if he returns to  Singapore. 

The authority added that it has issued an advisory to SingPost, reminding it of its  obligations to safeguard mail integrity  and security, as well as to train and educate its staff to perform their task properly.

" IMDA takes a very serious view of any lapses in SingPost&rsquo s mail services and has directed SingPost to take urgent steps to improve its service standards and restore public confidence in its postal services," it said. 

To this end, IMDA notes that SingPost has implemented measures such as hiring more postmen, extending delivery slots for basic mail parcels to weekday evenings and on Saturdays, and increasing the number of dedicated counters and staff at post offices for mail or package collection.

SingPost has also pledged to conduct an overall review of its operations to improve its service standards.

IMDA said it will continue to work with SingPost to improve the quality and reliability of its postal delivery services.

https://www.businesstimes.com.sg/companies-markets/singpost-fined-s300000-for-service-lapses-in-2018



 
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Belteshazzar
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13-Mar-2019 17:20     
 
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 Alert Admin 		Gd, same as osim. Shut off us unit brookstone, it's share price rocket and later delist and get listed in hk
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Starship
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13-Mar-2019 15:35     
 
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SingPost seen likely to sell, shut US e-commerce unit: analysts
13/03/19, 01:33 pm

SINGAPORE (Mar 13): Singapore Post is likely to wind down or sell its loss-making US e-commerce business after conducting a strategic review of the unit, according to a Bloomberg survey.

A potential divestment or shuttering of the business will bode well for SingPost&rsquo s long-term profitability, according to four analysts covering the stock. Two brokers including CLSA have factored in benefits from a possible transaction in their earnings estimates.

The poll was conducted after SingPost said last month it saw an impairment risk to the book value of its US unit. The company is now conducting a review of the business which is &ldquo expected to remain loss-making in the current financial year," Mei Yu Hong, a company spokeswoman told Bloomberg by email on Feb 20.

&ldquo I am expecting an exit from US e-commerce business either by scaling down or a sell-off," said CLSA analyst Horng Han Low, who upgraded the stock to buy from sell on Feb 7 with a target price of $1.17. &ldquo Sentiment has been overwhelmed due to the loss-making online business even as management reversed the structural decline in Post and Parcel segment," he said by phone.

The US e-commerce business, which helps US retailers including Speedo and Tommy Hilfiger manage online stores and package deliveries, has been a drag on SingPost&rsquo s profit as the unit suffered losses in each of the last three years, a key reason why SingPost&rsquo s market value has more than halved since a record high in February 2015.

SingPost, which counts Temasek Holdings and Alibaba Group Holding as its two biggest shareholders, bought majority stakes in US e-commerce companies TradeGlobal Holdings Inc and Jagged Peak for about US$184 million ($250 million) in 2015.

&ldquo The e-commerce operating environment in the U.S. continues to be challenging due to intensifying competition and rising customer bankruptcies," SingPost&rsquo s Hong said. Impairments, if any, will be assessed based on full financial year results and future plans, she said.

CLSA&rsquo s Low said a potential impairment should be seen as a prelude to the exit from US e-commerce. Operating losses in the e-commerce unit widened to $13.3 million in the third quarter, compared to a $11.7 million loss a year ago, according to the company&rsquo s filing.

Old Is Gold
Sticking to traditional businesses might work out better for SingPost as its mail unit has contributed the most to its annual operating income since 2010, according to Bloomberg data. The &ldquo US e-commerce strategy comes at a heavy price and would be costly to execute a turnaround. It has weighed on valuations and business outlook,&rdquo CLSA&rsquo s Low said.

The company is expected to report full-year earnings results in about two months. SingPost&rsquo s 12-month forward price to earnings ratio has fallen to 20.8 from 21.9 at the start of 2018.

The end of the US unit is unlikely to have an " impact on the bread-and-butter" mail and package business, CGS-CIMB Securities analyst Ngoh Yi Sin said by email. " Singapore Post will have to continue to manage its service quality for domestic mail, and overall margin for post and parcel business, while looking for new growth engines."

There is a 50% chance that SingPost will end the US e-commerce business but an exit should provide an " immediate boost to its earnings," Ngoh said.

https://www.theedgesingapore.com/singpost-seen-likely-sell-shut-us-e-commerce-unit-analysts
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batambird
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11-Mar-2019 14:25     
 
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 Alert Admin 		100k of shareholders money? Fat salaries still continue?
Short short short. Soon to see 70c

simplesimon      ( Date: 08-Feb-2019 16:26) Posted:

Should fine the CEO, not the company as CEO has fat salary, so is answerable!

guards80      ( Date: 07-Feb-2019 21:35) Posted:

IMDA fines SingPost S$100,000 for not meeting quality of service standards in 2017



THE Infocomm Media Development Authority (IMDA) has fined Singapore Post (SingPost) S$100,000 for not meeting quality of service (QoS) standards on delivery of local basic letters and registered mail in 2017. 

Under the Postal QoS framework, SingPost is required to deliver 99 per cent of local basic letters to an address within the Central Business District (CBD) and 98 per cent of local basic letters to destinations outside the CBD areas by the next working day. SingPost did not do so in May 2017, when it failed to meet the standard of  99 per cent delivery of local basic letters within the CBD by the next working day.

SingPost is also expected to deliver all local basic letters and registered mail by the second working day. It failed to meet the requirements for the delivery of local basic letters by the second working day for the months of January, April, May, October and November 2017, as well as the delivery of registered mail by the second working day for the months of January, September and November that year. 

" Having considered all factors, IMDA has imposed a financial penalty of $100,000 on SingPost for the nine incidents of non-compliance with IMDA' s QoS standards in the period from January to December 2017," IMDA  said in a press release on Thursday.
IMDA is currently assessing SingPost' s QoS for 2018 and will publish the results by mid-year.

Separately, IMDA is also investigating a Jan 29 incident this year where a postman discarded mail. Such behaviour is an offence under the Postal Services Act. 

http://www.businesstimes.com.sg/companies-markets/imda-fines-singpost-s100000-for-not-meeting-quality-of-service-standards-in-2017
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john_ric
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27-Feb-2019 11:49     
 
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 Alert Admin 		look like it. but how much can this sick counter  go up.
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dc16888
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27-Feb-2019 09:42     
 
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 Alert Admin 		start moving. ....dyodd
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Qanghoo
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21-Feb-2019 00:21     
 
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 Alert Admin 		Their operational lapses n deceitful postmen are probably a greater concern than their financial performance which seems already on the mend n I believe will gradually improve further.  Besides, more manpower needed for basic postal service wld feed the justification for postage increase n I think a small increase is likely to be approved sooner rather than later.
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john_ric
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20-Feb-2019 21:15     
 
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 Alert Admin 		Salty fish flipping over.

Every dog has its day??
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Starship
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20-Feb-2019 16:34     
 
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Impressive performance today by ugly Singpost.
Angmoh funds returning back into Singapore?
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Whyliddat
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15-Feb-2019 16:25     
 
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 Alert Admin 		Sinkpost mail delivery really cmi..Just received 1 mail, post marking 1st Feb...Luckily non important. Don't know what jalil doing ? I strongly advised any bank, credit bills any bills can giro or via E-mail better.
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pasttime
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13-Feb-2019 08:49     
 
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Yells: "gold silver are real money. not others iou."
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 Alert Admin 		to cut us ecommerce lost. jsut sell or close it. 10xeffort to turn it around one as the cost of operations is expensive there.
then singpost take  a hit down and recover from whatever position it goes down.
stop throwing good cash at bad one.
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Qanghoo
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12-Feb-2019 08:37     
 
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 Alert Admin 		Always have something to blame.  But it all boils down to negligence, I' d think. 

Whyliddat      ( Date: 12-Feb-2019 06:50) Posted:

https://www.channelnewsasia.com/news/singapore/singpost-letterbox-left-open-bedok-reservoir-road-11230644?cid=fbcna
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Whyliddat
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12-Feb-2019 06:50     
 
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 Alert Admin 		https://www.channelnewsasia.com/news/singapore/singpost-letterbox-left-open-bedok-reservoir-road-11230644?cid=fbcna
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SuperLuckyCorn
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11-Feb-2019 12:00     
 
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 Alert Admin 		Interesting...some buy & hold. Hope can swing off US E-Commerce losses and Spore up up again.
For us...has to wait for Bet over, then can take action. When the time come...take care.


 

sengsk      ( Date: 10-Feb-2019 19:02) Posted:

Spost may face more problems.
Just sell and wait for better price.

tangsookiam1947      ( Date: 10-Feb-2019 18:38) Posted:



SingPost has about 1000 staff. To rectify the lapses and to comply with the regulatory requirements, it has committed to increase its workforce by 100 staff.


This will inevitably push up the overall cost structure and not just manpower cost alone. For example, with a bigger manpower, they will need to make more separate trips for delivery, which will increase other cost components such as fuel, etc. More vehicles may also be needed, if the existing fleet of vehicles cannot be scheduled for use by a bigger labour force.

Would expect the EPS and dividend to drop by another leg.

80 cents level should be coming soon.

 


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sengsk
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10-Feb-2019 19:02     
 
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 Alert Admin 		Spost may face more problems.
Just sell and wait for better price.

tangsookiam1947      ( Date: 10-Feb-2019 18:38) Posted:



SingPost has about 1000 staff. To rectify the lapses and to comply with the regulatory requirements, it has committed to increase its workforce by 100 staff.


This will inevitably push up the overall cost structure and not just manpower cost alone. For example, with a bigger manpower, they will need to make more separate trips for delivery, which will increase other cost components such as fuel, etc. More vehicles may also be needed, if the existing fleet of vehicles cannot be scheduled for use by a bigger labour force.

Would expect the EPS and dividend to drop by another leg.

80 cents level should be coming soon.

 

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tangsookiam1947
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10-Feb-2019 18:38     
 
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SingPost has about 1000 staff. To rectify the lapses and to comply with the regulatory requirements, it has committed to increase its workforce by 100 staff.


This will inevitably push up the overall cost structure and not just manpower cost alone. For example, with a bigger manpower, they will need to make more separate trips for delivery, which will increase other cost components such as fuel, etc. More vehicles may also be needed, if the existing fleet of vehicles cannot be scheduled for use by a bigger labour force.

Would expect the EPS and dividend to drop by another leg.

80 cents level should be coming soon.

 
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Whyliddat
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10-Feb-2019 18:09     
 
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 Alert Admin 		Ex date for div 13feb, will be interesting to see any BBs shorting ?
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simplesimon
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08-Feb-2019 16:26     
 
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 Alert Admin 		Should fine the CEO, not the company as CEO has fat salary, so is answerable!

guards80      ( Date: 07-Feb-2019 21:35) Posted:

IMDA fines SingPost S$100,000 for not meeting quality of service standards in 2017



THE Infocomm Media Development Authority (IMDA) has fined Singapore Post (SingPost) S$100,000 for not meeting quality of service (QoS) standards on delivery of local basic letters and registered mail in 2017. 

Under the Postal QoS framework, SingPost is required to deliver 99 per cent of local basic letters to an address within the Central Business District (CBD) and 98 per cent of local basic letters to destinations outside the CBD areas by the next working day. SingPost did not do so in May 2017, when it failed to meet the standard of  99 per cent delivery of local basic letters within the CBD by the next working day.

SingPost is also expected to deliver all local basic letters and registered mail by the second working day. It failed to meet the requirements for the delivery of local basic letters by the second working day for the months of January, April, May, October and November 2017, as well as the delivery of registered mail by the second working day for the months of January, September and November that year. 

" Having considered all factors, IMDA has imposed a financial penalty of $100,000 on SingPost for the nine incidents of non-compliance with IMDA' s QoS standards in the period from January to December 2017," IMDA  said in a press release on Thursday.
IMDA is currently assessing SingPost' s QoS for 2018 and will publish the results by mid-year.

Separately, IMDA is also investigating a Jan 29 incident this year where a postman discarded mail. Such behaviour is an offence under the Postal Services Act. 

http://www.businesstimes.com.sg/companies-markets/imda-fines-singpost-s100000-for-not-meeting-quality-of-service-standards-in-2017
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investshare
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08-Feb-2019 12:38     
 
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 Alert Admin 		Why it takes one year to determine Singpost does not meet the requirement?

Qanghoo      ( Date: 07-Feb-2019 21:46) Posted:

While ths is one QC mechanism, the bigger concerns must be non delivery of mail (eg, staff throwing mail away) n misdelivery of mail.  How does the regulator put in place an effective QC  mechanism for these?  Anyway, is the penalty less than deterrent when  benchmarked against  the penalties meted out by LTA on transport service providers?  Maybe for the recent incident, if SP is found wanting, the penalty shd be 1 mil?

guards80      ( Date: 07-Feb-2019 21:35) Posted:

IMDA fines SingPost S$100,000 for not meeting quality of service standards in 2017



THE Infocomm Media Development Authority (IMDA) has fined Singapore Post (SingPost) S$100,000 for not meeting quality of service (QoS) standards on delivery of local basic letters and registered mail in 2017. 

Under the Postal QoS framework, SingPost is required to deliver 99 per cent of local basic letters to an address within the Central Business District (CBD) and 98 per cent of local basic letters to destinations outside the CBD areas by the next working day. SingPost did not do so in May 2017, when it failed to meet the standard of  99 per cent delivery of local basic letters within the CBD by the next working day.

SingPost is also expected to deliver all local basic letters and registered mail by the second working day. It failed to meet the requirements for the delivery of local basic letters by the second working day for the months of January, April, May, October and November 2017, as well as the delivery of registered mail by the second working day for the months of January, September and November that year. 

" Having considered all factors, IMDA has imposed a financial penalty of $100,000 on SingPost for the nine incidents of non-compliance with IMDA' s QoS standards in the period from January to December 2017," IMDA  said in a press release on Thursday.
IMDA is currently assessing SingPost' s QoS for 2018 and will publish the results by mid-year.

Separately, IMDA is also investigating a Jan 29 incident this year where a postman discarded mail. Such behaviour is an offence under the Postal Services Act. 

http://www.businesstimes.com.sg/companies-markets/imda-fines-singpost-s100000-for-not-meeting-quality-of-service-standards-in-2017
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Whyliddat
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08-Feb-2019 07:59     
 
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 Alert Admin 		https://www.investing.com/equities/singapore-post-ltd-technical
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